Google Inc. Chief Executive Eric Schmidt called on newspaper executives to create a "new format" for online journalism, including delivery methods that give consumers personalized content they want to read. During a speech at the Newspaper Association of America's convention in San Diego, Mr. Schmidt called on the industry to join with Google to create products that would entice readers to go beyond headlines listed on search-engine pages.
"Advertising still is the best way to reach a large audience," Mr. Schmidt said. "It's very difficult to hold information back" on the Web.
He foresees a place for micro-payments, which could allow a reader to pay a few cents each for an article they want to read online. He said technologies are available to allow publishers to create an online micro-payment system, like the one pioneered in the music business by Apple Inc.'s iTunes.
Mr. Schmidt compared the digital future of the publishing industry to that of the TV business, where broadcast networks draw the largest audience with an ad-supported model, and cable networks attract more niche audiences with subscription-based models and a combination of the two.
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