“If people value journalism, they should pay for it.”

Read this short blog post on a major British newspaper’s decision to charge for online content
Whether, and how much, newspapers should charge for online content is a contentious question. What role, if any, does the price elasticity of demand for
online news content play in this debate?
Your Task: You are free to access the Internet, textbook, and course notes while writing your response. Responses are to be no more than 500 words.
This discussion is setup different than you may be used to. Instead of each student starting their own thread, you will respond and reply within a single
thread. The first person to post DOES NOT answer all parts of the question but starts the discussion. Subsequent responders should not repeat answers but
should pick up where the conversation left off and build on it. Once the initial question has been addressed, use the below questions for furthering the
discussion.
These additional prompts/responses can be used to stimulate discussion:
“If people value journalism, they should pay for it.” What key economic concepts are being considered within that statement?
Why is charging for access sometimes viewed as a high-risk strategy?
What are the advantages and disadvantages of such a strategy?
Which consumers do you think will be most affected by this strategy?
What determines the magnitude of the price elasticity? Do you expect it to be elastic or inelastic?
Individual Comment on Peers’ Responses: Carefully read through your peers’ responses and choose at least 2 to respond to. Please be as specific as
possible in your comments. Comments may offer constructive critiques, highlight fellow students’ creativity, point out areas of overlap with other students’
comments or other course themes, build upon fellow students’ insights by adding your interpretation, or ask for clarification.
https://www.emarketeers.com/e-insight/times-and-sunday-times-online-move-to-subscriiption-model/