Tuesday, September 20, 2005
Korea: OhMyNews to pull $10 million revenues in 2005
The Korean citizen journalism project OhMyNews (see former posting) is likely to pull in $10 million this year, reports San Francisco Chronicle through Paid Content. The site has been profitable since September 2003. About 70 per cent of the revenues result from ad sales, 20 per cent from syndication sales and 10 per cent from paid subscriptions for premium content. Citizen reporters at the site, who are men in 76% of the cases, usually receive to $2 to $20 for each story depending on their success. Over 70 of citizen reporters and staff have reached book deals since the web site started.
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