"There’s a reason that some 2,900 newspapers have closed since 2005, and that reason is the ad revenues publishers were hoping for to support what were initially free websites never materialized."

What's left: paywalls and patronage.

I've become much more bullish about patronage than paywalls for journalism content, and working for two non-profit newsrooms with exactly that model has only solidified that opinion. The Guardian is an illustration of how well it can work - as are ProPublica and The 19th.

What the decline of programmatic ad revenue does make me wonder is: what's going to happen to the platforms that are sustained the same way? #Media