JOURNALISM FUNDRAISING Tips To Secure Funds For Publications
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Over the last few years, the future of journalism and print publications has been facing uncertainty, with big names such as Buzzfeed, Meredith, and Verizon Media cutting back on staff and costs. To maintain their financial future, many online publications are switching to a donation model to future-proof their content delivery.
A donation model can work better than paywalls and subscription models since readers don’t have to commit to a regular payment to keep up-to-date with content
SUBSCRIPTION MODELS FOR PUBLICATIONS It’s becoming increasingly common for publications to ask readers to subscribe to read their content. Medium charges a monthly or yearly fee for members to read an unlimited number of stories on their site.
The Atlantic offers an ad-free subscription option With the subscription/membership model being rolled out by so many big-name publications, is it a viable move for their smaller counterparts?
The Atlantic offers an ad-free subscription option With the subscription/membership model being rolled out by so many big-name publications, is it a viable move for their smaller counterparts?
DONATION MODELS FOR PUBLICATIONS Readers can continue to consume your content even if they don’t have the financial means to set up a subscription right now
You can build stronger trust and loyalty amongst your supporters if you’re not forcing them to pay to read your content. This can be significant if your readers are consuming content from multiple sources and are on the verge of “subscription fatigue.
CROWDFUNDING FOR ONLINE PUBLICATIONS Crowdfunding is an option for publications that have yet to get off the ground. It can cover some of the upfront costs associated with starting up a publication, which can be high. This is a significant hurdle for many new publications before they even put out any content. A tiered reward system can encourage people to increase their donation amount. This can be done by “upselling� them on the benefits of making a larger pledge.
Have a clear and simple message that inspires people to pledge A compelling and engaging video is more likely to be shared by donors. This is an easy way to get more organic promotion for your publication
Have a strategy in place to reach a wider audience. The more readers you have, the higher the chances of securing donations
How to Secure Donations For Your Publication For any organization that wants to use a donation model, you can add a donate button or donation form to your website. This is quick and simple with donation software such as Donorbox
Publications Using Donorbox to Raise Funds DONORBOX
1. Truthout Truthout asks for one-time or regular donations from readers to continue their mission to put out “people-powered journalism.�
2. HonestReporting HonestReporting also asks readers for a onetime or monthly donation. They can choose from the pre-filled donation amounts or make a donation amount of their choice.
3. Free Spirit Media Free Spirit Media provides a platform for emerging content creators to make their voices heard. On their donation page, they offer prefilled donation amounts for readers to choose from and also allows a custom amount to be donated
4. Lawfare Lawfare allows donors to choose how much they donate, rather than suggesting amounts to give.
Adopting a donation model can help online blogs and publications to survive and thrive in a changing media landscape. Many publishers are finding it hard to secure adequate advertising income but are seeing success with using donations to fund their work.
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