What is the profit model of media companies?

Now many culture-related units can teach media companies. I'll take newspapers and radio and television, for example. I'm familiar with them.

The main profit model of newspapers and radio and television is advertising, especially radio and television. Newspapers and periodicals are generally losing money. For example, the cost of Beijing Youth Daily is around 3 yuan, but the price is only 1 yuan, which is mainly made up by advertising. However, in Japan, newspapers that make money by publishing, such as Asahi Shimbun and Yomiuri Shimbun, have a daily circulation of millions or even tens of millions (early edition and late edition).

Another profit model is to carry out diversified business, such as investing in real estate, film and television shooting, and publishing books. At present, the profit model of domestic newspapers and radio and television is relatively simple.