ABSTRACT
This chapter outlines the broad set of economic approaches that have been applied to support community, hyperlocal, and local news and their benefits given the technical, industrial, and cultural changes taking place in the field. The keys to a sustainable future are embracing their diversity and cultivating their 'niche': localness. The hyperlocal movement can be understood as a shift towards a "marketplace of niche". The problems with centralizing and dispersing local news can be seen most clearly at the hyperlocal level. The chapter discusses two overarching themes—business models and sustainability models. The process of centralization and standardization of news has been a popular business strategy in the digital age, especially among major media players with interests in local news. The audience for news, once considered passive consumers, is now recognized for its capabilities of gathering news, editing, publishing, and for helping fund professionals' ability to practice quality journalism.
