> I think it'd be accurate to say that the decline in general _quality_ of journalism is downstream of the dynamics you describe. But there are ways to be click-driven beyond building closed-loop narrative worlds for your readers. The obvious example is sensationalism and disproportionate emphasis on catastrophizing negative news for your readers, and this is entirely possible without being partisan.

No doubt there are other ways, but partisanship seems to be the optimal way at least in today's social media landscape.

> If anything, committing to a dishonest narrative view of the world cuts off half of your potential pearl-clutching: if the New York Times were breathlessly writing about the dangers of critical race theory the way Fox does, they would get _more_ clicks, not less.

That's kind of the point: NYT isn't going to write breathlessly about CRT because that's a conservative boogeyman (to be clear, there are a lot of valid criticisms of CRT or at least the movement born out of CRT, but as it's just entered the conservative lexicon 5 minutes ago they don't understand it well enough to critique it gracefully). NYT have their own topics about which they write breathlessly, consider from whence the 1619 Project came, after all.

The idea that NYT would get more clicks by appealing to both the left and the right assumes that there is a fixed number of clicks, but that's not true. By focusing on right wing partisanship, Fox gets the right to engage far more than they would if the writing were more or less neutral. These additional clicks dwarf the clicks lost because they alienate left-wing and moderate readers. The NYT has roughly the same strategy with respect to left-wing clicks (although I don't think the NYT is exactly the mirror image of Fox). Partisanship grows the market such that either the left-wing partisan or right-wing partisan markets are individually larger than the entire nonpartisan market.

> Subscriptions work the opposite way here. Most people don't care about (or aren't capable of?) being informed, and subscriptions to the correct news source serves roughly the same function as choosing a church to hear your Sunday sermon at and make a part of your identity.

I agree that most people aren't interested in being informed, but I disagree that subscriptions work the opposite way. First of all, there were many decades during which online advertising was nil and during which partisanship was low. IIRC there was some increasing partisanship as a consequence of cable news advertising which is just a less-gripping form of online advertising (if only because online media is truly on-demand and we carry access to it in our pockets 24/7), which is to say this observation supports the thesis that advertising and not subscriptions drive partisanship.

Beyond the actual evidence, it doesn't make sense in theory that subscriptions would drive partisanship. To your point, most people don't care about being informed, but those people generally aren't subscribing in the first place. To the extent that people made their news sources part of their identity (prior to the significant increase in politicization of media), it was to signal their membership in the higher class, not their political identity.

> As far as I can tell, it fits the evidence much more cleanly to model journalism's narrative/polemical turn as downstream of the broader increase in polarization in society in general. The NYT spins alternative-fact fantasies not because of the economics of ad-based serving, but because of the characteristics of contemporary consumer demand.

As previously discussed, if traditional and social media companies' ad-based revenue model were torpedoed tomorrow (say, due to legislation prohibiting ad revenue altogether, or at least online ad revenue) I strongly suspect the market for partisan media would largely evaporate. To say that media companies increasing polarization is just "responding to demand" in the same way that the tobacco industry was just "responding to demand" by making their cigarettes ever more addictive.