BusinessWeek: OhmyNews Has Financial Woes
BusinessWeek column head and subhead read:
OhmyNews’ Oh My Biz Problem: The Korean site for citizen reporting hasn’t had much success so far with its moves into other markets-and it’s in the red at home
Story adds:
OhmyNews has … become one of Korea’s most influential media outlets. However, the site continues to look for a profitable business model and is expected to lose money in 2006. This comes after a several years of very modest profits. OhmyNews, set up in 2000, now has about 90 full-time staffers-65 of them journalists-and some 44,000 citizen contributors. Together, they produce around 150 articles a day. This year, it expects revenues of about $6 million, 60% of which come from online ads and the rest from the sale of the company’s news product to Internet portals, and from miscellaneous services.
