Business models aren't about revenue, he says. In fact, they are quite the opposite.
"They involve the foundations upon which businesses built, such as companies’ competences, value created, products/services provided, customers served, relationships established with customers and partner firms, and the operational requirements. If you get those elements right, the revenue issues take care of themselves."
Picard suggests news organizations have to think about the way their content is consumed.
"The range of technologies and distribution and interactive platforms available in the twenty-first century require that firms increasingly see their business activities as cooperative processes requiring coordination and interdependence with external firms and customers themselves. Standing isolated and alone—at arms distance from the customer—is no longer a viable option," he writes.
While it's not necessary to be precipitous, Picard suggests attention needs to be paid soon.