By Jacqueline Koch
What is shifting the calculus in journalism today? Judging by a recent Pew Research Center report, it’s Kickstarter and a few other startups in the crowdfunding space. Anyone who believes that numbers tell the most compelling story will find this one very convincing.
In the first nine months of 2015, supporters shelled out US$1.74m to support 173 journalism projects, on Kickstarter alone. This is a significant increase from the $49,256 raised for 17 projects in 2009, just six years prior. All told, from April 2009 to Sept. 2015, journalism projects launched on Kickstarter have received funding amounting to $6.3m.
Lined up against the $20bn in revenue generated by newspaper ads, Kickstarter’s sums may seem anaemic. Yet the funds and influence that Kickstarter —alongside a growing number of publicly funded journalism projects—represent is no small change, literally and figuratively.
New, niche and nontraditional
Kickstarter is just one of a growing number of crowdfunding platforms, and one among several that are specifically focused on journalism. The Pew report notes: ‘In today’s evolving digital era, [crowdfunding] represents a new, niche segment of nontraditional journalism driven in large part by public interest and motivation.’
In short, it’s a new chapter for journalism that offers a win-win-win. Win 1: Hungry, enterprising journalists, who are seeking the means to report on important and untold stories and push the envelope, are tapping into the financial resources to do so. Win 2: The public gets a seat in the editor’s chair to support the journalism, stories and topics they find meaningful. Win 3: Media organisations are dialing into quality and diverse content without the burden on their budget.
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