Crowdfunding Guide for Media Professionals
This guide aims to help media professionals explore new opportunities to develop their business. Innovative ways of funding quality journalism and other media projects are one way to achieve the extra bit needed, as many examples across Europe proof already today.
The Future Media Lab., in cooperation with the European Crowdfunding Network and the European Magazine Media Association, has developed this report in relation to a series of highly interactive, inspirational and educative workshops which bring participants up to speed on how to use crowdfunding within their own business context.
Crowdfunding is a collective of cooperation, attention, and trust, by people who network and pool their money and other resources together, usually via the internet, in order to support efforts initiated by other people or organizations. It is not easy to introduce new ideas, products and services in today’s media industry: there is always a lack of funds and issues with market acceptance. Crowdfunding can help tackle this problem by enabling media professionals to raise funding and simultaneously receive feedback from the audience on the product features and the demand for it.
Media brands and also journalists live a close and trustful relationship with their audiences. This is the ideal starting point for crowdfunding.
This practical guide aims to provide an introduction to how crowdfunding works and how it can be applied within the media industry.