Legacy media may not be a sinking ship just yet, but there’s no denying the leaking. A growing number of direct-to-consumer media outlets are luring elite journalists to their platforms, bringing a crowd of loyal (and highly desirable) subscriber groups with them. Effective journalism simply can’t function without a budget to back it, and a new wave of small-business news outlets is proving that subscribers are more dependable than advertisers, clicks, and cookies.