By Jemima Kiss: Next in our series of predictions for 2009 is James Montgomery, editor of the Financial Times website.

SEE ALSO: Interview: Rob Grimshaw, MD, FT.com: New Niches, Pinker Pages, No More Subscribers

“The credit crunch will intensify the pain of structural dislocation and force publishers into an urgent reappraisal of online business models. As the high tide of excess liquidity, a long consumer boom and Web 2.0 euphoria recedes, the ‘free economy’ will come under renewed scrutiny.

“The search for new sources of revenue to supplement advertising - from conferences, e-commerce and commercial publishing - will intensify. Subscription will come back into vogue, as the question becomes: what would Apple (NSDQ: AAPL) do?”