The Future of Journalism
Where journalism is headed — from AI-generated news to new business models, and what must be preserved for informed democratic societies.
The Existential Business Model Question
The core challenge for journalism's future is economic. The advertising revenue that funded journalism for over a century has migrated to Google and Meta, which capture over 50% of all digital advertising globally. Most newspapers have not found sustainable digital alternatives. The New York Times is a rare success story — its digital subscription model crossed 10 million subscribers — but this success has not been replicated at scale.
Emerging models include membership (The Guardian), philanthropy (ProPublica), bundled subscriptions (Apple News+), micro-payments, and public subsidy. No single model will replace advertising revenue for the entire industry. The future likely involves a combination of models, with the risk that quality journalism becomes available only to those who can afford to pay for it.