Izzy is responsible for the website development using her background experience in coding. She assists is researching, sorting and gathering information pertaining to the app. She plans to discuss subscription models during the research phase with current professionals in the industry.
As the videographer, May will focus on the project trailer, project promotion videos, and helping out whatever else our project lacks aide. Her main skills include video-based work, such as Adobe Premiere and Avid Media Composer. She is also a proficient in Photoshop and graphic design, and has basic HTML/CSS skills. As graphic designer, May will try to keep a consistent design across platforms, along with creating any needed graphics or visuals.
As the Content Producer, Yulin is responsible for doing researches online and filling in contents for the project. Majoring in Public Relations, he can also provide sufficient creative ideas for the team so that we can better develop the project.
We did research to see what price point current payment models are for a variety of news organizations in order to determine the price point for each article on Nickel News so that we are a financially appealing option for users.
Next, we created three theoretical model user profiles based on how many articles they would read per day. These profiles range from the Average Joe who reads 6 articles/day to the News Fanatic who reads 30. To simply the number, we assume that each user profile reads the same number of articles from each tier.
We were able to calculate the revenue each contributing news organization would make based on the amount of users Nickel News has. Each tier gets 2/3s of the revenue from their articles Tier 1 organizations such as WSJ gets ⅔ of 15 cents per article. Tier 2 organizations such as The New York Times gets ⅔ of 10 cents per article. Tier 3 organizations such as The Athletic gets ⅔ of 5 cents per article. Nickel News gets the remaining ⅓.
We calculated these monetary value on a benchmark average that each users evenly reads the same number of tier, 1,2 and 3 articles per year. Approximately 1200 articles total and also equivalent to our 'Casual User' user profile.
Additionally, we calculated the annual revenue that each tier and our company would receive assuming that we accrued a certain number of users. If we had 5,000 users, we would make $270,000 annually. Tier 1 organizations such as The Wall Street Journal would make $300,000 annually and so on. Based on this analysis, we believe that Nickel News is a financially viable option for both users and news organizations.
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