Sustainability of the European media market(s)

Abstract

This chapter deals with the economic aspect of media pluralism, focusing on the ways in which newsrooms and media organisations can sustainably operate in light of current challenges. In the last two decades, one of the most discussed topics in journalism studies was the decline of traditional revenue models and the ensuing financial vulnerability of news media. EU member states are no exception: all over the block, advertising models are collapsing, willingness to pay for (print) media is decreasing, and many countries experience the formation of news deserts, especially in rural areas. In the first part of this chapter, we will assess the current state of EU member states' and candidates' media markets, the challenges posed by changing news consumption habits, as well as online platforms' dominance over advertising markets. The second part of the chapter examines the ways in which selected online news media in three countries (Croatia, France, and Hungary) cope with their challenges. The analysis of news media responses focuses on diverse revenue streams, encompassing market revenues (the declining but still relevant income generated by advertising and different forms of reader revenues), public subsidies, and unconventional sources of earnings (including philanthropy and supplementary services provided by news media publishers).