The shift from ad revenue to the pursuit of digital subscriptions has turned journalism into post-journalism.
Public trust in the media has hit an all-time low. Common explanations for this crisis of credibility include bias, polarization, and fake news, but these causes are themselves effects of the tectonic, and generally overlooked, shift in the media’s business model. Throughout the twentieth century, journalism relied for its funding predominantly on advertising. In the early 2010s, as ad money fled the industry, publications sought to earn revenue through subscriptions instead of advertising. In the process, they became dependent on digital audiences—especially their most vocal representatives. The shift from advertising to digital subscriptions invalidated old standards of journalism and led to the emergence of post-journalism.
