Innovative ways of financing print media and finding ways to reduce costs in the context of media convergence

Abstract

With the emergence and development of various types and types of mass media, their business models, which were formed in the first half of the XX century, were transformed. However, media convergence has become a process that has led to changes taking place not only at all stages – from creation to distribution of content, but also to the search for new ways to finance the media business. The subject of the study is the transformation of media business models in the context of the convergence process. The object of the research is innovative ways of financing print media in the context of media convergence. The author analyzes the following new ways of financing print media: 1. creation of online stores on websites (sale of various goods on the publication's website or on a specially created Internet resource). 2. transition to data journalism (sale of the received data to other mass media and (or) other organizations; sale of data visualization services). 3. Introduction of automated technologies (using artificial intelligence to create content) as a way to reduce costs. 4. Allocation of editorial office space for rent (for example, for organizing forums, conferences). For the first time, the author comprehensively examines these new ways of financing print media. The phenomenon associated with the development of online stores on Russian media sites is described on the basis of data obtained during in-depth interviews of the author with employees of the Komsomolskaya Pravda Publishing House, Moskovsky Komsomolets Publishing House. The article concludes that these methods of monetization of the media business in the conditions of convergence can only be considered as additional (often very small) sources of financing. It should also be borne in mind that the experience of individual mass media cannot always be successfully used in other editorial offices.