These two questions are the motivation behind Talking Wales.
Our experiences of running news services in Wales over the last two years have given us a unique insight into the state of news provision in Wales and the business models employed by news companies in Wales.
It also gave us an insight into the types of stories people were reading online and how they were engaging with news stories from Wales and how this is shifting the focus of traditional news providers away from news towards publishing content and stories designed to drive traffic to their websites.
To create a service that focuses on “real news”, delivering stories from the world of politics and from national and local government we need to attract an audience that sees its value and is willing to invest in it.
As we prepare for launch investment will come in two forms.
We’re setting up as a Community Benefit Society. A CBS is a type of cooperative that reinvests any profits it makes back into serving the community it serves. You will be able to purchase shares in the company, which will give you a say in its running. Shares in Community Benefit Societies don’t increase in value, but they do attract interest on an annual basis, and you can cash out your shares for the price you paid after a certain period.
This will generate the funds required for us to set up and employ the team who will deliver the service.
Once up and running our main source of income will come from subscriptions. Most of our content will be available to all for free, but subscribers will have access to exclusive content in a range of formats.
By subscribing you will be investing directly in the service. Your monthly contribution will allow us to develop new services and cover a wider range of topics in greater depth and detail. It will also allow us to embed staff in communities that are currently underserved from a news perspective.
If you would like to learn more about our plans and support the venture our website contains all the information you need.
You can also sign up for our newsletter and we’ll keep you updated with news of our developments.