Victor Pickard: A new business model for journalism

Last year was one of the worst in recent memory for layoffs across media. Job losses in digital, broadcast and print news increased almost 71 percent from 2022, according to a recent report. Victor Pickard, professor of media policy and political economy at the University of Pennsylvania, says the current situation amounts to a "systemic market failure." To fix it, he proposes a bold new plan.

• Plus, Axios' Sara Fischer with her top reasons for journalism's decline; and Karen Rundlet, CEO of the Institute for Nonprofit News, on the local and nonprofit news efforts giving her hope.

Guests: Victor Pickard, professor of media policy and political economy at the University of Pennsylvania

Credits: 1 big thing is produced by Niala Boodhoo, Alexandra Botti, and Jay Cowit. Music is composed by Alex Sugiura and Jay Cowit. You can reach us at podcasts@axios.com. You can send questions, comments and story ideas as a text or voice memo to Niala at 202-918-4893.