As I read about the New York Times' decision to build pay-walls and start charging for its content in 2011, I couldn't help but laugh a little. The newspaper is making plans for 2011? No rush, I guess.
Come on, guys, there are even predictions that the world will end in 2012. The debate about a sustainable business model for journalism is happening now, not in the future. Shouldn't we just go ahead with our decisions even if sometimes we have to accept failed experiments?
It was only today that the brilliance of the Times' announcement hit me—the company just engaged its competitors, the blogosphere and the social mediasphere in a conversation about its business model.
Today Google offered 105,000 results for the keyword phrase "ny times paywall." Some of the posts, I am sure, are only remotely relevant to the topic at hand, but one could also try other keyword combinations. What I am trying to say is that people have been actively discussing the Times' decision.
What is more, the online community has been pointing out loopholes in the pay-wall plan. Some of the smartest financial analysts and technology writers spent their time addressing problematic issues in the revised business model. To list a couple that impressed me the most, Tom Foremski of Silicon Valley Watcher published a post titled A Massive Hole in New York Times' Paywall Plan and finance blogger Felix Salmon wrote a series of articles about the paywalls.
In a way, the Times hired an army of thought leaders to help them out in making an important decision. How smart is that?
Photo credit: paalia