What's wrong with the prevailing publishing structure are the legacy institutions. These legacy institutions continue to revisit the bankruptcy courts because they are not structured to compete in the new internet age. While legacy institutions have many different shareholders, they're, generally, controlled by a legacy publishing family through alternative share classes that entitle them to a controlling number of votes. That means that the legacy publishing families are calling the shots for the entire industry and are the party that should be accountable for the failure of the legacy institutions to adapt. Shareholders need to start holding the controlling parties accountable and when they don't respond, vote your dissatisfaction by divesting of your stock and cancelling your subscription.
The legacy publishing houses are carrying the weight of physical distribution chains, editorial bureaucracy, print deadlines and geographic coverage constraints. The fixed costs of the old business model have left them in an uncompetitive position as prices for information seem to be racing to the bottom; the zero price floor! The future of news is about being lightweight corporately and heavyweight on individual choices and community involvement.
nwzPaper represents what the future of news will embrace:
- An information distributor that is neutral on the content message.
- A platform that empowers the journalist to decide what to write, when to publish and makes the journalist subject only to the market forces of his or her subscribers.
- A subscriber experience that offers everything in a familiar format, in one place and leaves the choices of who and what to read up to you.
I don't expect building this community to be easy, but I am confident that what we have built is a platform that meets the needs of contemporary information consumers and journalists alike. We will continue building nwzPaper for the journalist and his subscribers, so make sure to share your feedback with us!