I'm not so pessimistic. For example, over here in Holland we have De Correspondent, which does an admirable job at depth over 'breaking first' (it's even their mission statement: beyond the whims of the day, loosely translated). They're very loosely paywalled and get by on paying subscribers like myself.
From what i gather so far, they're doing a wonderful job and expanding rapidly without losing money. I think there's plenty room for initiatives like that in specific niches as well.
My impression of NYT and The Economist and such is that while they're trying, they're still way too tethered to an older model which, among other things, requires more money for (relatively) more crap. And while on behalf of good journalism I lament the period of turmoil as they fight their fight but eventually disappear, I think it's necessary for more targeted, leaner journalism to take over.
From what i gather so far, they're doing a wonderful job and expanding rapidly without losing money. I think there's plenty room for initiatives like that in specific niches as well.
My impression of NYT and The Economist and such is that while they're trying, they're still way too tethered to an older model which, among other things, requires more money for (relatively) more crap. And while on behalf of good journalism I lament the period of turmoil as they fight their fight but eventually disappear, I think it's necessary for more targeted, leaner journalism to take over.