1. Toward a new business model for investigative journalism Dr. Mark Lee Hunter Adjunct Professor, INSEAD CIJ Summer School, July 21-22 2007

4. The Goals: Get out of crisis Seize opportunities Earn a living doing a thing we love… That makes the world better

6. Part One: What are we doing?

7. The Current Model Providing citizens with information (revealing secrets) leads to better governance Watchdog role prevents, denounces or redresses missteps/wrongdoing THE CORE MODEL IS POLITICAL

8. Three additional answers Provide informed guidance/judgement; Make sense of chaotic open source info; Propose alternatives (link to civic journalism) Implication: Move from secret to open source, information to meaning

11. Part Two: Where’s the Value?

12. The Value to Others: Help consumers to make better choices Help investors make better decisions Identify promising new talents, products, policies, etc. Find sense in confusing information Denounce false information Paradox: Few of these practices are considered “investigative”

14. Part Three: How are we doing it?

16. Our revenue models suck: Poor diversification/leveraging Weak and costly distribution Losing advertising markets Losing viewer/reader bases

17. Our HR policy is for losers Low salaries/benefits = lost talent What managerial/team training? What mid-career training? Early training focused on info not inquiry

19. Part Four: Promising Alternatives

20. Style is Added Value Michael Moore: The news is bad, but getting it is fun Agnès Varda (The Gleaners): News you can use to stay warm

21. Local news is now global Internet communities: Global consumers have same products/concerns. Courrier International (France, weekly): Aggregated local news becomes international themes

22. Independence pays… at least in France! Le Monde: Shift from counter-power to power costs circulation Le Canard enchaîné: 400,000 weekly readers; investigation (2/8 pp) underlines credibility of commentary and reportage; circulation and revenue rising

23. The Internet Pays… for communities: Environmental movement: Leading NGOs are now a news network Radins.com: Guide and tests of free offers supports owner. Media blogs: Desire to understand news Potential value added: Lifestyle support, reputation (access to ancillary revenues), advertising revenue, diversify audiences (plural!)

24. The Internet Pays… for VA content: Economist Group: Electronic advertising revenue increased by 39% over year. Electronic revenues represented 17% of Group turnover. Consumer and business information businesses growing.

25. Value-added content = leverage (Economist Group): Group: The Economist, Economist.com, Economist Intelligence Unit, Economist Conferences, Economist diaries, Rights & syndication, CFO brand family, Government brands, etc. Combined advertising revenues up 20%. Economist’s worldwide circulation up 9% for the July-December 2006 ABC audit period, up 12% in North America, 8% in UK, 4% Asia-Pacific. Print advertising revenues at The Economist up 18%. Economist threatens dumbed-down BW in US.

26. Part Five: Strategic Perspectives

29. Diversify revenue streams: Private contracts/consulting Research/content services to: consumers, policymakers, NGOs Sell IJ services to media, outsource scutwork to specialists

33. When the draft is done…. Is it coherent ? (the details fit together) Is it complete ? (all questions are answered, contradictions are resolved) Does it MOVE well?

34. RHYTHM IS KING A good story is like a train. The reader/viewer must be invited to get on. The writer must get the train moving. DO NOT STOP THE TRAIN. SLOW IT DOWN ONLY TO RELIEVE THE READER OR SUMMARIZE BRIEFLY.

35. Editing the work Watch out for long sentences. They reveal your confusion + slow you down. Watch out for long paragraphs. When a person/place/idea changes, so should the paragraph. Watch out for bureaucratic language. It makes sense only to bureaucrats.

36. For writing samples using this method… Please visit my site: http://markleehunter.free.fr