From the exit post on New Matilda:
Looking to the experience of media start-ups in the US and the UK, we have realised that the days of the single-revenue media outlet are over. Nowadays, small outlets are finding new ways to fund their work through what Texas Tribune founder John Thornton calls “revenue promiscuity”: “you have to get it everywhere and often”.
They are trading on the quality of their journalism and their trusted brands to build relationships with other media outlets to which they provide niche content. And they rely on a broad and growing base of philanthropists, funding bodies, foundations and individuals who see that as the media industry cuts costs, the survival of public interest journalism requires them to put their money where their mouth is.
Well, it’s a triple backflip summersault from an editor that claimed that there was no future in online media.
But it is spoilt a bit by stuff like this
These outlets are doing important work to fill the gaps left by a shrinking media industry, often with little money and few staff
Actually, the media industry is thriving. The HERITAGE media is shrinking, new media is thriving. And that’s half the problem with how New Matilda was run, and was certainly a problem at Crikey when king luddite Jonathan Green ran the shop: neither considers themselves to be part of new media.
This also doesn’t help
When we re-launch, our primary aim will not be to drive hits back to our own site — the model that advertisers dictate is king — but to inject new, quality journalism and analysis into the Australian media environment. In this way we hope to inspire enough of you out there to deem us worthy of your financial support.
She doesn’t seem to understand that traffic isn’t just about ads: if you don’t have enough readers, you’re not going to get enough financial support from ANY source.