A new report highlights the obstacles to survival for media startups in the Global South, and checks in on the progress of two dozen of them to see how they’ve fared over the past three years. It includes advice from some of these outlets’ editors for those thinking of launching their own startups. A recurring theme: Before you do anything else, secure a couple years’ worth of funding.
Many media investors see disaster everywhere they look, as traditional media lose audience, revenues, and relevance. However, the importance of media is “absolutely obvious” and media companies need more support from democratic societies than they are getting.
For high-quality journalism to thrive after the collapse of the traditional business model for media, independent media outlets need to leverage on their social capital to generate revenue and ensure editorial independence. The economic value of social impact can be used to justify and attract investments from foundations, NGOs, businesses, the public, and even government.
