Springwise: News Site Shares Revenue with Users
Now in beta, Knewsroom publishes the “Knews” every morning, featuring the previous day’s top stories in politics, business, technology, design, sports and entertainment. Which stories rank as most important is decided by the audience of readers, in Digg-like fashion. Going far beyond Digg, though, Knewsroom rewards contributors with a portion of 20 percent of every dollar it earns in advertising revenue. Members of the Knewsroom community can participate by proposing topics for the next day, submitting syndicated or original stories, and voting on favourites. Active members earn “watts”—the official community currency—for their contributions, and they can invest them to varying degrees in the stories they think have the most merit. Investing watts in topics is like investing in mutual funds on Wall Street, Knewsroom explains, offering a lower risk but lower rate of return; betting on stories, on the other hand, is more like investing in individual stocks, with a higher risk but a higher potential return. Whichever way they choose to invest, readers get rewarded each day at deadline, when Knewsroom runs its matrix algorithm to determine the Top 5 topics and the Top 5 stories in each section. Contributors who bet on a winner get a share of all the watts that were invested in that winner along with a cut of the ad revenue generated that day, which gets credited to their Knewsroom MasterCard. Contributors of original content can earn an extra USD 150 for their submissions as well.
There seems to be no doubt that citizen journalism is here to stay, but how it will reshape the news landscape is still being decided. Between Digg, Reddit, Newsvine and others, the race is on to decide what tomorrow’s newspaper will look like. Will Knewsroom take hold? Only time will tell. In the meantime, one to test out!
Website: www.knewsroom.com
Contact: team@kluster.com
Published with permission From Springwise
Springwise, an independent new business ideas/innovation firm, scans the globe for the most promising new business ideas. The company was founded in 2002 by trend watcher and entrepreneur Reinier Evers and is headquartered in Amsterdam, The Netherlands.
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