Can Philanthropy Save Local Newspapers? – Slashdot
70 million Americans live in a county without a newspaper, according to a 2022 report cited in this editorial by the Washington Post’s editorial board”
Who’s to blame? The internet, mostly. Whereas deep-pocketed advertisers formerly relied on newspapers to reach their customers, they took to the audience-targeting capabilities of Facebook or Google. Web-based marketplaces also siphoned newspapers’ once-robust revenue from classified ads.
But the Post emphasizes one positive new development: “a large pile of cash.” In an initiative announced this month, 22 donor organizations, including the Knight Foundation and the John D. and Catherine T. MacArthur Foundation, are teaming up to provide more than $500 million to boost local news over five years — an undertaking called Press Forward… The injection of more than a half-billion dollars is sure to help the quest for a durable and replicable business model.
The even bigger imperative, however, is to elevate local news on the…
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source: https://news.oneseocompany.com/2023/09/24/can-philanthropy-save-local-newspapers-slashdot_2023092450519.html
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