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In the race to build a better blogging business model, GigaOm is hoping to sprint into the lead. On May 28, GigaOm Network said it will start selling subscriptions alongside the site's existing free, widely read tech blogs.

For $79 a year, the new GigaOm Pro will offer access to premium content, including research reports and long-form stories in such areas as wireless technology and cloud computing.

GigaOm is at the forefront of a push by bloggers and other online information providers to find new ways to generate revenue as demand for online advertising slumps. Online ad revenue at the four largest Web portals, Google, Yahoo!, Microsoft's MSN, and AOL, fell 3.3 percent in the first quarter, according to consultant eMarketer. Newspapers and magazines are under even greater pressure as their circulation numbers dip and print ad sales plummet.

Ad sales rose in the first quarter for closely held GigaOm, says Paul Walborsky, CEO of Giga Omni Media. Still, the site is hedging its bets. "We believe that new media companies out there are going to have multiple revenue sources," he says. The company, which boasts about 3 million unique visitors to its site a month, also makes money from coordinating industry events. GigaOm provides blog content to BusinessWeek.com.

Information providers have a mixed record in getting users to pay for online content. The Wall Street Journal is one of the few newspapers that charges a subscription for online content. Others, including The New York Times, have ceased charging readers for access to some content.

Murdoch: Time To "Pay Handsomely"

The Wall Street Journal is looking to expand paid offerings. In a May 6 earnings call, Rupert Murdoch, CEO of Journal owner New Corp., said his company will start charging users for access to the newspaper via Apple iPhone. "In just three weeks, 360,000 people have...