The unanimous answer from the panel was that people wouldn't pay for journalism.
Now, you can take this one of two (or more) ways:
1. Journalism as widely practiced in the present environment isn't worth paying for, so of course people won't pay for it.
2. Even if journalism was "objectively" worth paying for (lemme hand wave that judgement for the sake of argument), maybe people still wouldn't value it to the extent they were willing to pay what it would cost to produce.
And we can drill into #2 even deeper: in practice, some kinds of reporting are already funded entirely by its audience. For example, Janes has made a business for decades of compiling open-source intelligence about military hardware. That's a kind of reporting, and provably one that some audience is willing to pay for.
Other kinds of reporting though may be valued differently. One of my professors won a Pulitzer prize for a story on AIDS in the Midwest. This is probably not something you can build an industry around reporting on, especially not in the way she went about it, but clearly some people felt it was worthwhile reporting.
So now we get back to the question of how we incentivize "good" reporting, which arguably the above two are examples of, but in different ways. One is basically industry reporting which seems like largely a solved problem from a financial feasibility perspective.
The other angle is less of a solved problem as far as I know, but I can see two paths to try with it: culture grants (common for certain kinds of projects in some Nordic countries - not as sure about the US) and crowdfunding. In either case, it will probably look substantially different from how we think of journalism today.
As ever, people gravitate to "free," so you're stuck with people reading journalism made by one group but copied to several other places. The race to the bottom begins. There's a signpost up ahead -- your next stop, the Kardashians. Gossip is cheap.
We've seen this in software. We remember the relentless flogging of "Just make it open and somehow it'll pay for itself!" Fans. Freemium models. Whatever.
Culture grants would be quite difficult, as any journalist may be tempted to bite the hand that feeds. Recall The Beeb and how they fed Jimmy Savile for so long. Now he's dead and they can report on it, but Johnny Rotten got in hot water for even hinting at the topic while he was alive.
Here's what I suggest. When you see it, call it out. Doesn't matter if it is WSJ, CNN, Fox, your uncle at Thanksgiving, or whatever. Call out ads masquerading as news. Don't engage with them directly. Don't take a political stance. Reinforce the idea that you don't know shit about what's going on and not nearly enough to formulate a meaningful opinion (opinions always exist but opinions aren't always meaningful or helpful). Be HARDLINE apolitical in this respect. You can have politics about things that you know about, anything less is tribalism.
You're not going to directly topple the structures overnight nor are you going to be able to march into the president's office. But you are a meme, you are a virus. If you infect just two others, the virus spreads. And it spreads fast. This is the power you have at the individual level. You are part of a deeply connected web that people are trying to convince you is worthless. But we're all 6 degrees of freedom, or less, from one another and that's how contagions spread so fast, especially in the modern world. This is how you hit them from the market side. This isn't boycotting in the traditional sense, but it isn't dissimilar. Regulations won't happen without strong public support and MAJOR pressure on politicians, who have consistently shown they do not respect our opinions: because we don't hold them accountable. This is all connected.
Be the meme/virus. Be apolitical. Stop any tribalism. Call out ads. Be a pain, even to your friends, and force themselves to censor themselves around you. Don't force them to have no opinions, just don't let them be tribal and lazy. Force them to have nuance. Either they will have nuance, or they censor. Both are effective.
We really need some kind of regulations to disincentivize companies from producing drivel and more incentives for well researched material.
I don’t know what those regulations would look like. But without them we are drowning in material that does society more harm than good.