Would you pay for local news on Netflix?

That’s the question I saw on LinkedIn.

According to the news anchor in Colorado who asked,

“Whomever figures out a successful business model for it will make themselves, and Netflix (and other streaming services) a lot of money, along with, hopefully, higher wages for journalists.”

Sounds like a win-win! But sadly, I couldn’t figure out a successful business model. I hope you can.

Check out my response and let me know what you think below it!

Local news by who? Been thinking a lot about your question, going around in circles in my mind, and I don’t see how it’s possible.

People pay for Netflix. Would they pay for local news there? (TV stations give it away for free, and that’s no longer successful.)

The precedent, of course, is newspapers. People paid for news to supplement what they were getting on radio and TV.

Newspapers were considered the whole picture, the record of the day, maybe even intelligent with editorials and columnists. They survived so long despite local sections without frills. They weren’t up-to-the-minute and didn’t contain video. (Gotta add, that was in both good and bad economies, but not while being called fake or the enemy of the people.)

So.. Would people pay for an improved local news product – say, with all that classic newspaper content but up-to-the-minute with video on demand?

I would hope, but that product doesn’t exist. Newspapers aren’t what they used to be, and broadcasting never was. TV stations that tried to differentiate themselves by being anti-sensational, doing less crime, never did well.

Also, people are more likely to leave their hometown, and feel less is at stake. And they can see a whole lot more nationally and overseas, which means more competition for local news.

It would take a saint – a rich one – to step up and offer a superior product in enough areas. (Traffic and weather are already free.) They’d have to pay a fortune in startup costs without a promise of success.

Then, they’d lose money like all new businesses do. They’d probably get a little subscription money but hardly any from advertising.

Bottom line, unfortunately: The way I see it, it would take nothing less than a miracle. 😥