Summary
The days of free newspaper content on the internet may be coming to an end... but only if consumers can be persuaded to pay.
Analysis
The battle to save newspapers is heating up. "Consumers must pay!" is the new rallying cry. Among the loudest proponents of this new strategy is Rupert Murdoch. Not surprisingly, while Google is busily feasting on the blood of the newspaper industry, Les Hinton, publisher of The Wall Street Journal, has been drinking the NewsCorp Kool-Aid.
It's true, The Wall Street Journal is in a unique position. It creates original content that has real value to business leaders, traders and retail investors. Subscription and micropayment systems (a la iTunes) may help The Journal drive incremental revenue -- and increase traffic to its site, thus generating more ad revenue potential too.
But within the global "linked economy," The Journal is a relative niche player. If Ashton Kuchner subscribes to The Journal, he can Tweet his reactions to the latest headlines to 1 million+ "followers" - about the same number of paid subscribers The Journal has amassed in 10+ years.
News travels fast these days. Paid content loses value quickly. And everywhere you look, opinion is free.
I think I just proved my own point.
