In 1992, the Internet was opened for commercial access, and online services like AOL, Prodigy and Delphi began offering connectivity. Anyone could run a site on the Web, which was now accessible to millions of people worldwide. In 1993, Global Network Navigator became the first online publication to support itself with interactive advertising banners, and the path forward was clear: newspapers could make their content available for free to anyone in the world with Internet access, and pay for it with advertising. Due to the nature of the network, once a piece of content had been produced, the cost of disseminating it indefinitely was negligible. The barrier to entry had also been dramatically lowered: anyone could publish news without having to establish a distribution network. Other advertising-supported sites like the Drudge Report, the Huffington Post and opinion-orientated “Web logs” like DailyKos began to spring up. The former media gatekeepers were no longer an effective part of the news ecosystem.

These events moved newspaper content beyond the scarcity model. Wikipedia says this about scarcity: “Goods that are scarce are called economic goods. […] Other goods are called free goods if they are desired but in such abundance that they are not scarce, such as air and seawater”. Thanks to the Internet, content became like air and seawater: almost infinitely abundant, and free. The possibilities provided by Internet advertising seemed to have heralded a new era.

Internet advertising has a major benefit over its printed cousin: it can be targeted towards its audience, and statistics about advertisement effectiveness and reader engagement can be captured in real time. Advertisers know exactly how many people have responded with an advertisement, and can tailor it to a particular viewing demographic. Contrast that with the print medium, where by necessity