Crowdfunding is a system for raising money among family, friends, social media friends, readers, clients or general public, according with fundable.com
The majority of funded projects over the seven-year time period, 71%, were produced by individuals not tied to any journalistic organization – either alone (43%) or as a part of a small group (29%): Pew RC
Crowdfunding sounds great, but the industry cannot depend on the good will of the people and corporations in order to function and do one of the most important roles in society: inform and investigate.
- How are paywalls or membership schemes doing?
In October 5, 2015, the New York Times reached 1.1 million subscribers on the internet.
The success for paywalls still remains to be seen. One of the problems is that people are not used to paying for something that they use to get for free. It will take time, but in the future, the only way to get good content will be by paying for it, according with Tom Rosenstiel, executive director of the American Press Institute. He says the quality of the media will be as good as people demand it.
- What about the nonprofit model?
- 172 organizations founded since 1987 in the USA.
- All states except one have at least one nonprofit organization that focuses on journalism.
- Most of them specialized on journalism niches and they do not follow the mainstream media.
- A great number of those organizations (62% out of 92 that answered the survey) received big support from grants, but many of those (only 28%) got their contract renewed.
Diversify revenue (no model yet)
- 58% out of the 92 organizations depend on three major sources: grants, individual donors, advertising, media partnership and events.
- But, about half of those (92) still depend on one single donor: grants.
- Only 1/3 of the 172 are independent; most of them depend on a second organization.
Inside the News Room
- Crowdsourcing, bloggers and citizen journalism have to be included
The Sun Herald in Mississippi: The South Mississippi paper’s hurricane blog is up-to-date, relevant and sees heavy traffic with people giving information on shelters, medical aid, relief operation and mobile kitchens among other things.
NPR Blog: National Public Radio has also dedicated a blog to the coverage of the hurricane, and updates regularly with the latest news. The blogs are updated daily, providing both a general overview of the situation as well as individual stories.
According with the PewRC
- Cannot be forgotten
- Five core values of journalism
By Aidan White, Director of Ethical Journalism Network
Is Journalism dying?
Journalism is dead when we don't report with honesty and try to manipulate the information
Journalism is dead when we ignore the community we serve
Journalism is dead when the 'least trusted' network finds out that Trump is good for business and decides to keep him on the screen 24/7
According with Standard Media Index (SMI) in 2016
- CNN increased revenue 58% - from $19M to $536M
- MSNBC increased revenue 48% - from $71M to $219M
- Fox News increased 26% - reaching a total of revenue to $621M
Journalism is dead when we as journalists decide to be partial, serving the people in power (private or public), or favor one group instead to be as objective as a reporter can be. Journalism is dead when media corporations decide to pay somebody millions of dollars to report propaganda and mislead its audience but sells the product as news.
Journalism will be dead if you let them die. You decide!