5 Ways Newspapers Can Make Money

The Minnesota Newspaper Association had its 157th annual convention last week at the Minneapolis Marriott Northwest in Brooklyn Park. I attended the convention for the first time and had a swell time. I met a lot of great journalists and newspaper pros and learned some things. 

According to veteran MNA convention goers, attendance was down a little, but there was still plenty of excitement about print, journalism, and the newspaper industry. One exhibitor I asked about morale, Julie Tesch , president and CEO of the Center for Rural Policy and Development , described the mood as a mixture of fear and hope, with hope in the lead.

Minnesota Sen. Amy Klobuchar and Gov. Tim Walz stopped by to say a few words about the importance of journalism and a free press for democracy. 

Minneapolis The Minnesota Star Tribune CEO and publisher Steve Grove gave a keynote talk on the paper's vision to create the leading model for local news in America. The model is built on innovation in media, serving with the hearts of journalists and the heads of technologists. Product development and digital subscriptions are at the center of the company. Reader revenue is their north star.

Many newspapers are thinking about how to get more revenue. Since 1867, when the Minnesota Newspaper Association was founded with the first meeting of the Minnesota Editors and Publishers Association in St. Paul, the newspaper game has changed. Not everyone is sold on the idea of print newspapers being viable in the future. Yet, like anything that lives long and prospers, newspapers must adapt to the times. 

As Dr. Adam Grant , an organizational psychologist at Wharton, said on a recent Huberman Lab podcast episode with Andrew Huberman , a professor and neuroscientist at Stanford, "The only way you learn is by continually evolving your beliefs."

The only way you evolve is to be open to new possibilities that were not available before. The current media landscape can be viewed as a black hole or a greenfield opportunity. If newspapers play their cards right, the days ahead will be filled with greenbacks.

Reaping the rewards won't be easy or a straightforward process. It will require stepping out of one's comfort zone. This has not always been easy for a newspaper industry that historically moves with the speed of a starfish. Now is the time to let go of old habits, beliefs, and ways of thinking that no longer serve a purpose. Now is the time to embrace new ideas.

Here are five actions that can make money for newspapers. 

🎯 1. Solve community problems.

The world is filled with problems. People love to complain about them, and nothing ever changes. A newspaper can either be part of the problem or the solution. Solving problems is more profitable.

During a breakout session at the MNA convention called "The Power of Newspapers," Mankato Free Press editor Joe Spear , this year's Distinguished Service to Journalism Award winner, shared stories about how their newspaper used the power of journalism to help their community. 

Highway 14 was the deadliest in Minnesota for a long time. In 2010, The Free Press did a special report on Highway 14 and framed the series as the "Decade of Death" (paywall). They detailed every fatality for 10 years. The lead art was a map. They found that the highway was not on the MnDOT (Minnesota Department of Transportation) priority list for 30 years. They interviewed the families of those killed. They made clear the complexities of highway funding (not pretty). 

With their journalism, they built social capital and mobilized support in the community.  They asked legislators what can be done. Why does this situation exist? 

They did more framing — "Years of Pain Delayed, Deferred, Deadly" — and looked at the human cost of this bad and dangerous highway. They presented more facts on actual highway safety. What has been done, and what has not been done? They visualized the action and inaction with another map.

They built more social capital. They talked to the North Mankato mayor. They talked to a victim of a highway crash. They got people on the right side of this issue.

✅ They did more framing. How are these decisions made? Are there flaws? They showed the road ratings and funding.

✅ They built more social capital. What can legislators do?

✅ They mobilized support. They met with local legislators. They got them on the record. They wrote editorials. 

In 2023, an $83.5 million project to convert Highway 14 from a two-lane highway to a four-lane divided highway was completed. The whole state celebrated. This would not have happened without the dogged reporting and relentless pursuit of the truth from the Mankato Free Press. It was a textbook case of how a newspaper can use journalism to make change.

You see, people like problem solvers. No matter the size or scope of a newspaper, newspapers have the power to create change for their community. Solving problems doesn't just build community. Solving problems is profitable.

🎯 2. Give young readers what they want.

Newsflash: It's not the news. At least, not the current news products being delivered. 

I have three kids, all under 16 (ages 15, 11, and 9). They don't read the papers, in print or online. Even if they had a free subscription to a newspaper, they would have more interest in watching ice melt.

When I was a kid, I read the Los Angeles Times every day. Starting with the sports section, cover to cover, every word, down to the agate. Then, I would read the rest of the paper. I held the paper in my hands, turned the pages, and folded them, in half, into quarters, every which way. We also got the Pasadena Star-News, and I would read that paper religiously too. I loved newspapers.

My kids love to take selfies on their iPhones, chat with friends on Snapchat, watch TikTok videos, and play Roblox. They are like many young people these days. 

According to Backlinko, Roblox hit a milestone of 300 million monthly active users in May 2023. That's an increase from 121 million in February 2020. Today, Roblox has 70.2 million daily active users. That’s up from 23.6 million daily active users at the beginning of 2020.

✅ There are 3 million developers on the Roblox platform.

✅ Community developers made over $701 million on Roblox in the first nine months of 2023.

✅ Roblox has over 5.5 million active experiences.

✅ Sixty percent of Roblox users are under 16.

Newspapers cannot expect young people to come to them. Newspapers have to go to where young people are. Then, we need to ask them what they want. Or we can just observe what they do. This is how we learn.

Roblox would be a good place to start. They are looking to grow their ad business and expand their Partner Programs.

In fact, check out any popular video games. Children 8 to 17 years of age spend an average of 1.5 to 2 hours daily playing video games today, and there are 618 million under-18 gamers.

Maybe it's time to make a news video game or collaborate with a publisher that already is? "News Tower" (developer Sparrow Night, publisher Twin Sails Interactive) will be released on Steam on Feb. 13. Here's how the game is described:

Develop your newspaper and become New York’s new media mogul! In this tycoon, build and manage your newspaper from printer to toilet. Create your editorial line and lead your journalists through unique 1930's stories and dig out the latest scoops!

Or "My Newspaper."

Become a journalist and earn money while developing your skills. Think carefully about your career path as it can have both negative and positive effects. You decide what is truth and what is false, news or fakenews.

It's time for real newspapers to get in the game.

🎯 3. Partner with successful organizations.

If you want to go fast, go alone. If you want to go far, go together. The jury is still out on the origin of this quote, but there's no doubt about the importance of partnerships for newspapers.

Think outside the box. The bigger, the better.

Costco Wholesale makes over $4.6 billion in membership fees, and that's 72 percent of its profit. As of January 2024, there are 603 Costco warehouses in the United States across 46 states. 

What if local newspapers worked with Costco to develop a local newspaper partnership program by state? Might they be able to develop some online or in-store synergies? How about turning local newspaper articles into videos with AI and delivering news at Costco gas station pumps? Ads could be served in the videos, and every newspaper in a state that participates could get a cut.

Or partnering with another one of Costco's ancillary businesses like its optical aid center, pharmacy, or travel business.

A business like Costco is doing just fine without newspapers, but newspapers could benefit from a partnership with Costco, and the altruistic mission of revitalizing the newspaper industry could enhance Costco's reputation, increase its cult following, and lead to even more business.

Don't discount the possibility of helping local news for benevolent reasons. 

They already have one of the most popular magazines in the country, The Costco Connection. If Costco isn't interested in a partnership with newspapers, newspapers at least could learn from Costco's success, which is the result of offering members distinct services and products.

Newspapers also could get creative in how they ask for money and seek recurring revenue streams.

Look at Lehigh University Athletics and Lehigh Development and Alumni Relations. They combined their annual giving day challenges into one: Giving Day + March Mania. The combined campaign will span two days in March and retain the best aspects of both challenges.

Lehigh’s strategic plan, Inspiring the Future Makers, wants to "make it together." Last year, the two giving events inspired 3,469 people to give more than $1.8 million.

Newspapers could do the same thing.

✅ Find an organization with a common mission and/or profitability.

✅ Ask them if they are interested in a partnership.

✅ Work together to figure out win-win details.

The worst they can say is no. If they say yes, to paraphrase Buckminster Fuller, we will invent a new system.

🎯 4. Create an incentive program.

The more you give, the more you get. I am executive director of a youth development nonprofit called the Strong Mind Strong Body Foundation. We are developing a community solutions with youth program that rethinks how we solve community problems in Minneapolis and empowers youth to be changemakers.

When we first started our program, getting youth to attend our workshop was a struggle. We decided to give them $50 Target gift cards if they participated. Bingo. Youth signed up for workshops and attended. Once they participated, they liked our workshop and kept participating, and we kept giving them gift cards for their participation.

Early in our program, other community members said we should not pay youth to participate. You should want to strengthen the community because it is the right thing to do. We did not agree with that reasoning. On the contrary, by providing a gift card, we are showing youth we value them and their time.

Building community was not enough of a sales pitch to get youth to join our community solutions program. A $50 Target gift card changed the narrative. We hooked them with an engaging program once we got them through the door.

What's in it for newspaper readers? Being informed is not enough. Newspapers need to show they value their readers. Instead of always asking for money, they need to give readers something.

This goes for advertisers, too. The Coronado Times is an online newspaper that gives advertisers a complementary sponsored post each month. 

The Coronado Times, which has a new owner and publisher after 21 years, covers local news for Coronado, California, near San Diego, and shows what's in it for local readers.

Your financial support benefits the entire community and increases the coverage of local news that includes: city, business, military, education, lifestyle and the arts.

Reasons to Become a Paid Supporter and Get with The Times!

✅ VALUE — We provide quality journalism that is accurate, timely and meaningful.

✅ LOCAL — Published daily in Coronado by your friends and neighbors (see below [and they show the online newspaper's team]).

✅ COMMUNITY — Help grow local coverage of news (especially local business).

They use PressPatron to make it easy to fund their journalism, via crowdfunding, membership payments, and donations.

When Our team is made up of your Coronado friends and neighbors who work hard to deliver concise, and objective community news right to your fingertips. The Coronado Times is proud to be your local paper and we appreciate your generous support!

It also is possible to remove paywalls altogether. If paywalls aren't working anymore, publishers can explore other forms of reader revenue, including volunteer contributions and perks-based loyalty programs, as well as mission-driven advertising and sponsorship strategies. 

Volunteer contributions are a legitimate revenue stream. News and content can be free and accessible to everyone. This builds a larger community of passionate supporters for your work.

🎯 5. Print less.

Focus on quality over quantity. Newspapers might not need to be published daily in the future.

Thad Swiderski , the founder and president of eType Services, had an interesting idea at the Minnesota Newspaper Association convention. He believes a successful model for print could be monthly with daily e-editions emailed to subscribers. Your monthly papers would include the best stories of the month. You also could have occasional weekly print editions for special events (such as high school sports playoffs). 

You also could publish weekly instead of daily. Remember the Weekly Reader, the weekly educational classroom print publication that read like a magazine and felt like a newspaper? It covered news, current events, and curriculum themes, and was a must-read in grammar school. The Weekly Reader ceased operations in 2012 as an independent publication soon after it was bought by Scholastic News.

What if local newspapers created their own updated version of the Weekly Reader? What if they partnered with local school districts and libraries to help with literacy and new literacy?

Newspapers are looking for creative solutions to cut costs and make printing papers more efficient and effective. I met Matt Theiler , the director of printing operations at the Star Tribune, at the MNA convention, and we talked about how print could make a revival like vinyl records did. The experience of listening to albums on a record player cannot be replicated. 

The same is true of reading a quality printed newspaper.

Journalism and newspapers have great value. They have been devalued in the digital age. We need a re-education movement to show the value of newspapers and journalism, especially with young people.

Newspaper subscribers aren't getting any younger. The average age of newspaper subscribers is 55-plus. We need to get younger generations excited about print. 

A youth journalism program in schools that teaches youth every aspect of journalism — from how to write a story, manage a news website, print a newspaper, and run a news business. Then, we empower youth to run their own youth-led newsrooms and make them sustainable, using all of the innovative ways to make money for local news and newspapers.

Some of the 43,000 newspaper journalists in the United States who have lost their jobs since 2005 (almost two-thirds of newspaper journalists) and those laid off more recently could return to the journalism industry. They could oversee the youth-led newsrooms in schools across America and play a vital role in creating a new business model for journalism. Wouldn't that be ironic?

These newsrooms could have online and printed newspapers. Both/and. Not either/or. This is one way to revalue journalism for a new generation of newsmakers and news consumers.

Everyone wins.