Globe to offer two websites: one free, one pay

Experimentation is the watchword throughout most of the media. So the Boston Globe next year will split its digital news brands into two distinct websites, keeping Boston.com free while establishing a subscription-only pay site, BostonGlobe.com, which will feature all the content produced by the newspaper's journalists.

That will set up a clear test of end user preference for online local news.

The change, scheduled to take place during the second half of 2011, is aimed at building an audience of paid subscribers online, a strategy that newspapers across the country increasingly are moving towards. With this approach, the company also aims to maintain high traffic to Boston.com, one of the nation’s largest regional news sites and a site that generates revenue from advertising.

In the video arena, attention is focused on experiments with on-demand and online-delivered entertainment video. But one change already has occurred: cable networks are vastly more profitable than the old broadcast TV networks.

Bravo, for instance, is valued at $3.2 billion, according to research firm SNL Kagan. In contrast, Wunderlich Securities says the NBC network is worth a negative $600 million.

ABC Family is worth $3.3 billion, while ABC's value is just $1.2 billion, according to Kagan and Wunderlich estimates.

Just about everything happens faster when the Internet is involved, it is worth noting, but the vast growth of cable programming value, and the decline of broadcast networks, took decades. Few of us would suggest it will take decades for online video to have significant impact on the multichannel video entertainment business. But it wouldn't take much insight to predict a decade as a reasonable expectation for online channels to have displaced a significant percentage of today's "cable-delivered" programming.

Globe to offer two websites: one free, one pay