Freelancers like us were not the focus of the paidContent 2010 conference. But last month's gathering of "serious stakeholders" in New York to discuss the economics of content generated a ton of information that our businesses can benefit from.

Here are my five top takeaways:

1. Grow multiple "legs" of revenue. For the past 18 months, I've been talking with freelancers about the importance of having multiple streams of revenue flowing into our writing businesses, from article dollars and book royalties to speaking fees and blog ads. paidContent founder Rafat Ali, however, uses the phrase "multiple legs of revenue." I like this expression better because if we envision our freelance writing businesses as sitting stools, it's clear that they would topple without at least three supporting legs. Major media companies sell advertising, subscriptions, products and services. I sell articles, courses and multimedia. How about you? What distinct, sturdy income sources will give your business legs this year?

2. Follow the money. I had an "aha" moment when James McQuivey, a vice president and principal analyst for Forrester Research, noted that "People don't pay for content, and they never have." People pay for access to content. Publishers have been confused about this for years because content delivery used to be so closely tied to gated analog media (books, vinyl, theaters, newsprint, etc.). With the rise of digital information and devices, it's clear that consumers are paying for access to content. We're also shelling out more than ever to get the movies, news and music we enjoy. Need proof? Add up your monthly bills for cable TV, broadband, wireless phone data service, Netflix, digital music and gaming services. The average American has a content bill of $96.84 -- and $75.04, or 77 percent, of that is for access.

People will continue to pay for access to content, but ad revenue will drop as dollars get spread across many media and content producers (that's us) will face considerable competition. To profit in this environment, freelancers need to create content that is not easily replicated or duplicated -- and sell it to whoever wields the most control over access to content (e.g., cable and telecom companies, monopoly content rights holders and device makers). There's a pecking order in play: Producing generic news items commands less pay than producing Lost. As entrepreneurial writers, we need to reconsider the types of content we're providing and start moving up the food chain.

3. Go local. Globalization may be all the rage, but Hilary Schneider, executive vice president of Yahoo Americas, says that Yahoo is focused on localized content delivery. "Local is digital crack," she said. "Audiences are consumed with understanding local information, local news, connecting with their local community, and advertisers are just as excited about their ability to localize their offers." She estimates that this market, which includes different levels and definitions of local, represents a more than $15 billion opportunity. Yahoo is focused on the "national local" piece of this -- helping large advertisers like McDonald's use search traffic and consumer data to drive foot traffic in specific locations. In 2009, Yahoo's Newspaper Consortium, which sends Web traffic to newspaper sites, brought the papers $100 million in revenue, and that's just the tip of the iceberg, she said. Later in the day, Devin Wenig, CEO of Thomson Reuters Markets, outlined his company's plan to bring in local content by creating a "professional content ecosystem" in which local providers can syndicate content. Ask yourself: How can I create sought after local content? And, more importantly, who's buying?

4. Get niche quick. Rob Grimshaw, managing director of FT.com, said that the Financial Times' spate of acquisitions of high-end subscription publications shows that "news journalism is not dead." The acquired digital media companies include Medley Global Advisors, Mergermarket, Exec-Appointments.com, Money-Media and MandateWire. Notably, all relied on niche content, digital business models and intelligent aggregation to sell content at premium rates. In a separate talk, Steven Brill, co-founder of Journalism Online, made a similar point: "Online everyone is a trade publisher in the sense that they have to be tightly focused," Brill said. Freelancers, take note: Specialization pays.

5. Keep an eye on content farms (a.k.a. super-distributors). Rafat Ali cut to the chase when he asked executives from Demand Media, AOL, Associated Content and About.com: "Are you content with driving the economics of the business into the gutter?" His cynicism gave respondents an opportunity to distinguish their offerings from those of competitors. All content mills, it turns out, aren't created equal. Pay scales, writer credentials and editorial goals differ dramatically. About.com has been around for 13 years and its writers, with whom the company hopes to forge long-term relationships, make between $600 and $1,200 per month on average. In contrast, writers for Associated Content ("the people's media company") can expect $1 to $2.50 per 1,000 page views. Marty Moe, senior vice president of AOL Media's publishing division, says its Seed.com wants to "produce the highest-quality journalism" it can. Associated Content's CEO Patrick Keane asserts, "We are not a news site; we are not journalists. But we're democratic and open."

What these super-distributors share are impressive platforms for managing a high volume of content and paying a geographically distributed network of producers. Over time, I think we'll see some of these distributors start developing premium brands that publish better, more expensive writing. So while the pay may be paltry now, they bear watching.

As you navigate the new media landscape, you're welcome to send your freelancing questions to me on Facebook, LinkedIN or maya@writingcoach.com. I'll answer with a note, an article or a video.

Make every word count!