Is Murdoch going to be the pioneer for legacy media to start charging?

via battellemedia.com

The Daily Beast reported a rumor today about a potential payment plan that News Corp. may be rolling out in the next couple months. If this is true, News Corp. may become the first legacy media company to take a stand and start charging for online content (in addition to their subscription-only Wall Street Journal). Stryker McGuire, the author of the piece, didn’t mention too much about how the payment system would work– but he doesn’t have to. No doubt is the scheme going to be some combination of the many solutions we’ve seen fail so far: a micro-payment option, walled garden, or limited online access. What I’m excited to see is the way in which Murdoch is going to market this proposal. A student in my journalism class mentioned that legacy media companies will continue to exist– it’s just that the way they approach the business model needs to change. He might be dead on– if this system works, journalists may be able to start unclenching their teeth from fear of unemployment.

What might be interesting to see (that most start-up ventures can’t really do) is that News Corp is a whole conglomerate of media outlets: Murdoch owns not just The Wall Street Journal, but also the New York Post, Times of London, The Australian. Having so many different outlets and being able to control them (possibly all through one payment option) may be the single defining difference between his business model and, say, spot.us. In fact, this may be the very reason that Murdoch’s plan might be successful.

As the Boston Globe’s fate lies in a very delicate balance, it’s clear that it’s time to push forward with online payment options. For now, we’re waiting for one very rich Australian to come pull a magic rabbit out of his hat.