Traditional media (print and broadcast) mostly relied on advertising revenue. However for online journalism, ad income doesn't fetch as much. This is because non news websites and apps compete with news sites for the ads. Advertisers pay less rates online than what they would pay for traditional media. Lastly, news audiences also generally access content for free.
Nonetheless digital news is expensive to produce. Like all other media, there are upfront investment and recurring costs of production. Both include internet bills, gadgets, web and app development services. Additionally. there is the cost of newsgathering. Software costs depends on many factors but a large scale and sophisticated news website like the New York Times reportedly spent about $25 million on their paywall.
So if you start a news website today, how are you going to make money?