July 27, 2009 – News Corp., the owners of the Times in London, Wall Street Journal, and social media network, Myspace, has plans to increase their revenue by charging their readers for access to online content including news and entertainment, according to a new report from Bloomberg.
Jonathan Miller, News Corp.’s chief digital officer, announced that the Web “will become a have and have not world” where online companies will be producing Web content that customers will either be willing to pay for or they won’t. News Corp. currently charges customers a susbcription fee to view their online newspapers, but seems to have plans that will result in additional future charges for viewing online articles as they see the Internet as moving further towards becoming a “paid model” when it comes to news publishing.
Myspace, the currently free but fading social media network that recently laid off 30% of its workforce in June, is increasing the amount of ads present on the site and are now planning to insert those ads “deeper into the site in creative ways,” according to Courtney Holt, the head of Myspace Music.
It’s a wait and see game at this point to decide how best to keep journalism on the web accessible and profitable, as well as how the move to monetize certain online content will affect other website’s search engine results for similar news content and who will come out on top.
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