Wall Street Journal boss William Lewis discusses building tech partnerships, revenue models and transitioning to a mobile-focused media company in this episode of Press Play, the NewsMediaWorks’ regular podcast. Click here to subscribe on iTunes.
Mr Lewis heads an international and revenue-diverse media company that operates WSJ, America’s top-selling newspaper, plus financial and data services, and brands such as Barron’s, MarketWatch and Factiva.
He gave the keynote address at the NewsMediaWorks’ annual conference, the Future Forum.
In an interview with NewsMediaWorks, he spoke of the need to charge for quality journalism and end the belief that good reporting had no value.
“The days of abusing our world class journalism for free have got to be over,” he said.
“The debate is over in our industry about what the model should look like that will enable us to continue to fund professional journalism.
“It’s clear now – it’s a hybrid model involving some subscriptions, some advertising and . . . let’s call it ‘other’ . . . because lots of people are developing wine clubs and stuff like that.
“The modern, thriving media company has got to stop thinking that it can be a one-trick pony and just bank it all on advertising.”
Theme: “R.A.P.”, Jazzafari 2014. Licensed under an Attribution-NonCommercial-ShareAlike License.
SFX: “Floor trading 6“, Touchassembly 2012. Licensed under an Attribution License
SFX: “Stock market/office noise“, Perplessio 2013. Licensed under a Creative Commons 0 License.