ABSTRACT
The media environment has changed dramatically in the last few years. Audience fragmentation and online advertising atomisation have transformed existing business models and put into question traditional media management practices. Now more than ever, policy makers and editors are concerned about the future of newspapers. In this changing scenario, there are new media models that attempt to promote and preserve public interest journalism. Among them, non-profit institutions and community-funded platforms are the most innovative and relevant alternatives. They promote audience involvement using what is known as crowdfunding, or they are funded by grants received from wealthy millionaires. For these new models, profit margins and income are unwelcome. Despite the fact that they could be regarded as non-business models, they are actually changing the paradigm of public interest journalism while providing fresh ideas for traditional media. The aim of this paper is to explain the nature of crowdfunding by describing the context in which it takes place and considering its impact on journalism. We have created a database to identify all the crowdfunding initiatives around the world. The results highlight the emergence of these platforms and other systems that make possible crowdfunded journalism and investigative reporting. Transparency, user involvement and control over where their money goes tend to be the success factors of these initiatives.
