Media revenue inspiration from the International Journalism Festival
By Corinne Podger
Making journalism financially sustainable remains a challenge for many newsrooms, large and small. In recent weeks we’ve seen significant redundancies at VICE World News, Buzzfeed News, and the closure of MTV News.
But there are success stories, too, and many were shared in Perugia at the International Journalism Festival last month. You can visit the festival homepage and filter for sessions on ‘business models and funding’, and watch any session on YouTube by clicking on the title. Here are my top picks:
What’s next for the business of news?
This panel explored how different types of publishers are building income from reader revenue, advertising, memberships, and mixed models, and identified key trends that journalists can capitalise on in a market with few winners, and many losers.
Putting communities first: Planning local news
In 2022, the Public Interest News Foundation and NewsNow ran a pilot project in the UK, asking people not only what they want from local news, but also what they are prepared to do to support it. This session is packed with practical ideas for harnessing your local community to support quality journalism.
Membership models: all you need to know about running a member-centric newsroom
This session shared tips from three European news outlets: Krautreporter, Republik, and Zetland, on building a membership program to drive income.
The New European: Will print kill digital?
Launching a print outlet in the digital era might seem counter-intuitive, but since opening in 2016, the New European newspaper has experienced 50% year-on-year subscription growth. It takes no advertising, and launched a co-ownership scheme last year that has raised more than £1m from 2,200 new investors.
Blended funding: A useful innovation to fund independent journalism?
This session shared the experiences of newsrooms in Europe that are accessing ‘blended capital’ from foundations, news media companies and social investors in Europe.
News media bargaining codes: successes and shortcomings
The Australian experience with a news media bargaining code has been watched with intense interest all over the world. This session brought together Australian and international researchers to explore news media bargaining codes in Australia, Brazil, the United States, and Canada. What’s worked, and what needs improvement?
