Digital-first nonprofit newsrooms are generating only a fraction of the revenue of the newspaper industry from 20 years ago, and their “earned revenue” through things like subscriptions and memberships make up only about a quarter to a third of their total funding.
Those are the findings of a report released on Thursday from the Wyncote Foundation, which concludes that philanthropists likely will need to support these outlets for an extended time to preserve their sustainability. That philanthropy, however, may need to shift from national funders to local ones.
The Philadelphia-based foundation published the report to focus specifically on the role of philanthropy in the sustainability of local news. The study puts in context the financial and organizational challenges in nurturing the continued growth of nonprofit digital newsrooms, which are playing an increasingly critical role as many local legacy newspapers shrink or even close.
Comments
No comments on this item Please log in to comment by clicking here