“Online advertising is looking more and more like a contest that publishers can’t win—not on a large scale, at least. Advertising can help to cover some of their costs, but online ads alone won’t pay for big, serious, high-quality journalistic enterprises the way that print ads once did. The idea that the news business needs to find different revenue models—subscriptions, memberships, events, nonprofit status—is hardly new. But it’s time for online media companies to take a harder look at it than they have before.”