The Wall Street Journal Editor Robert Thomson recently told the Financial Times that the publication plans to introduce a micro-payment system for individual articles and premium subscriptions to the Web site this fall.
The WSJ‘s premium plan will target readers interested in niche industries including energy, commodities, wealth management, and more. It will place more focus on urban areas and take advantage of weakness among outlets in metropolitan areas like San Francisco and Detroit, where local publications are struggling.
As the fee structure is implemented, many anticipate that the Web site’s audience will also change. Bill Zucker with Burson-Marsteller tells PRWeek, “Readers who pay on the spot for specific articles will be more invested in the topic and not just casual readers.”
So what does this mean for public relations professionals and companies who want to pitch a story to the WSJ?
Pitches will need to be more focused and creative to fit into a niche story.
Pitches will need to be tailored to include not only national angels but also local angles, depending on the focus of the story.
PR professionals will need to take a strategic and creative approach to demonstrate why their story would inspire readers to pay.
This will provide a unique opportunity for companies to track and analyze what kinds of information and stories are resonating well with their target audience.
As the media landscape continues to change, many online publications will look to implement a fee structure in order to stay afloat. According to the Financial Times, several newspapers are following the footsteps of business newspapers by looking for ways to charge for Web content.
As this trend continues, make sure to stay updated on which publications charge for content and what kinds of stories reporters are interested in.
In order to ensure your pitches are reaching the right editors or journalists and sparking their interest, consider these tips from our past blog entry about How to Pitch a Reporter.