"Investigative journalism is expensive. Partnerships and grants can help but can also introduce conditions or stall proceedings. Could crowdfunding, where audience members donate to support an investigation, offer an alternative? “Crowdfunding serves as a crucial revenue source in investigative jo
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urnalism, enabling funding for stories that might otherwise remain uncovered,” says Tanja Aitamurto, the author of “Crowdfunding for Journalism” and an assistant professor in communication at the University of Illinois Chicago. “These crowdfunded stories often emerge outside mainstream media and large newsrooms, contributing significantly to journalism by diversifying producers and voices.” To explore the opportunities and challenges of crowdfunding investigations, GIJN spoke with three newsrooms pioneering the model: Noteworthy in Ireland, a community-led newsroom where readers pitch and fund investigation proposals, and Portuguese investigative podcast Fumaça and Brazil’s Agência Pública, which both operate membership models and have experimented with crowdfunding campaigns." (Introduction)
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"More than three years after the coup, a significant majority of the 40 senior media executives interviewed for this report say they are still dependent, partially or fully, on grants to run their operations. While they cannot control the external factors impacting on their work, be that the conflic
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t or the unpredictability of digital platform policies, they recognise that if they want to survive and attract funding and revenue, they need to build strong, professional operations and to prove their resilience. That includes doing independent, ethical journalism, developing strong financial management and inclusive HR policies, engaging with their audiences, experimenting with diverse revenue streams, planning for the future, and preparing for the unexpected." (Looking ahead)
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"Financing high-quality journalistic reporting is becoming increasingly difficult worldwide and economic pressure has intensified in the wake of the COVID-19 pandemic. While numerous alternative funding possibilities are discussed, ranging from membership models to government funding, they should no
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t compromise the highest possible independence of journalism – a premise that also applies to scientific research. Here, the state is involved in funding, but peer review models reduce funding bias. However, systematic approaches as to how established funding models in research could be transferred to journalism are lacking. We attempt such a systematic transfer using the example of the German Research Foundation (Deutsche Forschungsgemeinschaft, DFG). The transfer, based on an analysis of the complex DFG funding structures, was validated in 10 interviews with experts from science, journalism and foundations. Building on this, we developed a concept for a German Journalism Foundation (Deutsche Journalismusgemeinschaft, DJG), which awards funding to journalists and cooperative projects based on a peer review process. The funding priorities of the proposed organization range from infrastructure support to grants for investigative skills. Thus, unlike other models, it does not focus on funding specific topics in media coverage, but on areas such as innovation support, technology implementation and training. Although the model was designed for Germany, such a systematic transfer could also be tested for other countries." (Abstract)
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"This study examines 23 recently enacted or proposed legislative efforts from 2018 through 2024 aimed at providing revenue streams for journalism. We hope it offers a fulsome method for analyzing possible paths forward. There are two main parts of the report: Part One groups this legislation into se
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ven models for financing journalism. The financing models are organized around legal mechanisms that range from an expanded view of copyright to direct support for news by platforms and governments: the digital interaction (“usage”) type [models 1-3]; the subsidy type [models 4-6] and the tax type (model 7). Part Two looks at how this legislation impacts other issues critical to a sustainable news ecosystem that supports functioning, free societies. We first address an implicit yet inconsistently treated concept that emerges from this legislation: appropriate compensation, if any, for various uses of (and interactions with) digital content. This includes the notion of setting legal parameters for proper compensation that goes beyond traditional definitions of copyright. We then look at how these financially-oriented legislations impact issues within other core aspects of journalism." (Pages 2-4)
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"The Hindu Group (THG), a 143-year-old old legacy news brand, dove into subscriptions in 2019. The Hindu approached subscriptions with the mindset of revenue optimisation while being agnostic to the source." (Summary)
"This playbook is designed for media managers and journalists who are looking to monetise their social media channels and diversify their income — particularly in countries where English is not the predominant language. It will provide you with practical strategies and tips for creating and moneti
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sing content on social media, as well as insights into the unique challenges and opportunities that come with operating in a non-English speaking environment. Whether you’re a seasoned media professional or a novice just starting out, this book is the perfect guide to help you navigate the complex world of social media monetisation and succeed in the digital age." (Introduction, page 7)
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"This article analyzes how patronage crowdfunding is becoming a central part of the model for building a radio station. Implementing this model requires mobilizing listeners to engage in the direct, long-term financial support of a station. The analysis conducted in this article is based on a case s
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tudy of Radio 357—an Internet radio station in Poland funded through digital patronage since 2020. The success of this station suggests that the development of crowdfunding has created a space for new types of participatory engagement by audiences. Not only are we experiencing a reduction in the distance between presenters and listeners alongside increased connectivity between members of the audience but we are also seeing the intervention of patrons in shaping the station in terms of how, what, and when it broadcasts." (Abstract)
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"This study examines to what extent Arab audiences are willing to support these strategies, and what factors influence their willingness to pay (WTP) for online news, using a survey of 530 adults. The study found most of the public is not willing to pay for online newspapers, but are willing to pay
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for entertainment services. Most of them are not subscribing to printed or online newspapers. They do not have a real intent to help the newspapers in their digital transformation. Most of the public did not experience the paywall yet. Age and income influence the likelihood of paying for online news and to a lesser extent, gender and education. Age and income were predictors for WTP for entertainment services. Age and education were predictors for using online sources." (Abstract)
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"This publication considers the range of policy changes that have been tried or recommended by global regulators, assessing their impacts on press freedom and news media sustainability, with consideration for the risk of capture, and other potential tradeoffs of these interventions. It examines four
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categories of interventions: related to taxes and direct subsidies; copyright and licensing; competition and antitrust regulation; and transparency. Each piece discusses the driving concept behind each intervention, its advantages to publishers, how these benefits are distributed and how decisions are made regarding them, potential government involvement in each one, and their ability to address key underlying challenges related to news media sustainability. Our research also emphasizes the interrelationships between these policies and their broader effect on the platformatization of journalism. However, given that these interventions are in their early stages, or in some cases are still theoretical, a dearth of data makes it difficult to conclusively assess their impacts on media sustainability, media freedom and access to news. Where data asymmetries exist related to these questions, they are noted as areas for further research and potential regulatory attention." (Introduction, page 2-3)
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"Despite the political, economic and linguistic differences that characterise the 40+ countries where we conducted this research, the 540 digital native media organisations featured in our Project Oasis directory face many common challenges and opportunities. Among our key findings:
They use social
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media to target younger audiences, send news updates via Telegram to evade censorship, and train citizen journalists to reach underserved communities.
More than 85% said society and human rights issues are key areas of their coverage, including topics related to migration, refugees, gender and feminism.
More than 50% dedicate resources to investigative journalism, and many form alliances to cover stories across borders.
More than 58% of the media founders featured in this report are women. They are highly collaborative, and most have two or more co-founders.œMedia founded by teams that include both men and women reported the highest revenues, with an average of €509,740 per year.
Those that invest in business development build more sustainable organisations. Media outlets that have at least one employee dedicated to revenue generation reported average annual revenue six times higher than those without people in these roles: €598,539 compared to .95,629.
More than half the media in this study are non-profit organisations, and many of the for-profit ventures invest more in journalism than building profits.
Among non-profit media, the primary revenue sources are grants, individual donations and membership (in that order). Among for-profits, the top sources are: advertising, website subscriptions and grants.
Revenue diversity is key, but more sources do not correlate to greater success. Developing two to six sources of revenue appears to be optimal for sustainability and independence.
Digital native media outlets range from small start-ups run by volunteers dedicated to their communities, to highly profitable multi-platform operations that attract millions of page views every month and earn millions of euros a year." (Executive summary, page 4-5)
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"With 30 million readers, and paying digital subscribers surging past 700,000, Clarín has the distinction of having the largest number of paid digital users for any news publisher in Latin America." (Introduction)
"This guide helps media managers identify and choose the most relevant business models and practices that fit with their missions and operating conditions. It provides a common language around core concepts of media business functions and provides links to further resources. It offers practical, str
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aightforward guidance on growing audiences and diversifying revenue sources. The guide is written through the lens of news media and is written by media managers experienced in many different contexts. It includes topical overviews, case studies, interviews, guest essays, and practical hands-on tools." (Page 6)
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"The pandemic brought to crisis point prior trends facing independent news media, whether online or offline or hybrid. While media became more important than ever for citizens as a source of reliable information in an insecure and continuously changing world, newsrooms struggled to pay their bills.
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Already under financial pressure, many independent media have had to cut staff and even close shop. Transforming this moment of crisis into a window of opportunity, however, many in the media community, officialdom, academia, civil society and the private sector are taking action. They have come up with innovative ways to strengthen viability through initiatives that produce revenue and contribute to the central mission of independent journalism. Their efforts are a source of inspiration for media enterprises all around the world. To help multiply the achievements, this UNESCO publication profiles 11 case studies that can help ensure media viability without compromising editorial independence and journalistic integrity." (Back cover)
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"[...] we have brought together relevant case studies to illustrate how content production and business relations can be reconfigured to generate fresh revenue sources, and to demonstrate which tools may be helpful along the way. These cases include special thematic projects, creative agency models,
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and native-only formats in digital and multimedia form that revisit the boundary negotiation between editorial and business departments. The Native Advertising Playbook casts new light on the complex, overlapping and increasingly coupled relations between consumers and clients that require significant alignment and coordination to succeed." (Executive summary)
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"What’s working to generate revenue and sustain journalism collaborations, beyond philanthropy? To answer this question, the Center for Cooperative Media, The Lenfest Institute for Journalism and the Solutions Journalism Network conducted a survey, interviewed collaborative project managers, funde
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rs and ecosystem support staff from around the country, and ultimately identified eight innovative examples of collaborative revenue experiments in progress to share with you. These experiments range from new reader revenue streams to newsletter sponsorships, monetizing events and sharing back-office services." (About this report)
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"This study provides encouraging evidence that digital audience revenue programmes – donation drives, crowdfundings, membership schemes or subscriptions – may be a viable option for independent media outlets operating in challenging political environments. Responses from 19 outlets operating in
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Central and Eastern Europe and the Global South show that, while there is plenty of interference with independent media by state and political actors, there is little interference aimed at audience revenue programmes of independent newsrooms. Examination of the ownership structures and business setups of the outlets participating in the study shows how independent media is not necessarily just profit-driven in CEE and the Global South. Only half of the outlets in the cohort were fully for-profit and many of them had newsroom members as majority owners. While paywalls are a foregone conclusion in developed countries, for the media outlets in challenging environments included in this study, paywalls are very much up for debate. While all newsrooms in the project collect some form of audience revenue, only 37% had paywalls in place. Most outlets without paywalls worry about limiting the impact of their journalism, and this is why they are reluctant to charge for exclusive content. While their reservations may be perfectly legitimate, financially speaking paywalls work well for those who implement them. Outlets with active paywalls reported a higher share of audience revenue on average than those who do not have them." (Conclusions, page 56)
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