I think before the advent of mass-media it probably worked reasonably well. A subscription-based revenue model seems to work ok.
I think a reliance on advertising is what has pushed things to the degenerated state we have now. And social media has practically dictated that reliance.
> I think a reliance on advertising is what has pushed things to the degenerated state we have now. And social media has practically dictated that reliance.
True, but the press relied on an advertising-based business model right from the start. That, in hindsight, was not such a sensible choice.
