Warren Buffet: Most Papers Are Toast

Famed investment guru Warren Buffet, whose Berkshire Hathaway Inc. has investments in the daily press, says that most newspapers today are “toast.” The decline of advertising has transformed the newspaper industry “from monopoly to franchise to competitive,” the billionaire told Yahoo Finance, and now to "toast... The world has changed hugely.” By 2016, ad revenue for US newspapers was nearly a third of what it was just a decade before, according to the Pew Research Center. Not all papers will perish, however. The New York Times, Washington Post and Wall Street Journal will survive, he said.

Source: Yahoo Finance

Posted on: April 24, 2019

Reader Donations Save Russian Magazine

Supporters of one of Russia’s last independent media outlets have raised enough money to pay a court-imposed penalty widely seen as politically motivated. On Tuesday, ICIJ member Yevgenia Albats said she had received more than $373,000 in donations -- well beyond the fine imposed by a Moscow court in October. The court fined Albats and the online magazine The New Times more than $340,000 for allegedly failing to report donations received from readers submitted via the nonprofit Fund in Support of Freedom of the Press. The fine represents one year’s operating costs. Albats, the publication’s editor-in-chief, told ICIJ she believed most donations came from Russian citizens and were exempt from Russia’s so-called “foreign agents” law that would have required the news organization to disclose foreign donations.

Source: ICIJ

Posted on: November 15, 2018

Decline of Local Press Leads to Higher City Borrowing Costs

An extraordinary new study by University of Illinois at Chicago and University of Notre Dame researchers finds that the cost of U.S. municipal borrowing goes up by as much as a tenth of a percentage point following closure of a local newspaper.  A key reason: “the investigative journalism gap left when a local newspaper shuts down.” According to the study, “potential lenders have greater difficulty evaluating the quality of public projects and the government officials in charge of these projects.” 

Source: Nonprofit Quarterly

Posted on: July 28, 2018

Google Vows $300m to Bolster News Media

Google today announced major new efforts to support the news media, pledging to invest $300 million over the next three years to combat fake news, bolster sustainability, and foster new tools. The programs are group under the Google News Initiative and are intended as a global expansion of the Digital News Initiative that has granted tens of millions of dollars to European media in recent years. The GNI initiative cites three specific goals: to highlight accurate journalism while fighting misinformation; help news sites become more sustainable; and create new media tools to assist journalists in their jobs.

Source: Google, The Verge

Posted on: March 20, 2018

Google Funds 107 Digital News Projects

In the third round of the Digital News Initiative fund, Google has awarded more than €21m to 107 journalism projects in 27 countries across Europe. The recipients of the funding range from prototypes to medium and large projects focusing on investigative reporting, fact-checking and virtual and augmented reality. Just under half of the projects funded are collaborative, with 47 per cent of the initiatives produced in partnership between multiple organizations and across different countries.

Source: Journalism.co.uk

Posted on: July 7, 2017

Guardian Membership Jumps 13-Fold in Year

The Guardian, run by a public trust and in search of new revenue streams, is having success with its membership program. Over the past year, its number of paying supporters jumping 13-fold, from 15,000 to nearly 200,000 in the past year. The paper's big goal: one million subscribers by April 2019.

Source: Digiday

Posted on: February 2, 2017

College Paper Leaves Print, Website for Medium, Twitter

At California's Mt. San Antonio College, students have stopped publishing not only the print edition of The Mountaineer newspaper but also their website. Instead, they've turned entirely to Medium and Twitter for "realtime reporting and distribution." Is this the future of news?

Source: Nieman Lab

Posted on: May 28, 2015

Newspaper Reporter Ranked Worst Job in U.S.

Last year, when CareerCast ranked 200 jobs in the US, being a newspaper reporter came out 199, the second worst (above only lumberjack). This year, newspaper reporter is ranked 200th -- the worst job in America. The group cited "negative growth outlook" and low salaries.

Source: Poynter

Posted on: April 18, 2015

Ten Ways To Kill Your Nonprofit Newsroom

Journalists increasingly are turning to a nonprofit model to sustain serious reporting. But running a nonprofit can be as challenging as managing a for-profit. Here are 10 ways to avoid disaster, from the Nonprofit Quarterly. Among them: operating in the red and staining your reputation.

Source: Nonprofit Quarterly

Posted on: January 9, 2015

Nonprofits Use Data Journalism To Earn Income

Nonprofits are using data journalism to bring in earned income, diversifying their bases from over-reliance on fundraising. Here are some examples that include selling access (ProPublica), microsurveys (Texas Tribune), and bartering for office space (Voice of San Diego).

Source: PBS Ideas Lab

Posted on: July 26, 2014