Creating a Stronger Financial Future for Journalism
Even for those hardened to relentless cost-cutting in journalism, 2020 was unprecedented. The foundations of hundreds of newsrooms, sandblasted for decades by the shifting winds of the information economy, crumbled as advertisers the world over closed their wallets.
Masthead after masthead – from the national to the local – tumbled and fell. Thousands of journalists lost their jobs. And towns and cities went media-dark.
The biggest threat to journalism right now is financial security for the industry. Without an income, media outlets cannot stay open. And the biggest question our industry is asking in 2021 is: how do we earn that income, in ways that are compatible with our organisation’s mission and values, and that support and enhance trust with our audiences?
The good news is that many outlets not only survived the ad revenue downturn, but thrived – by finding and testing new revenue streams that kept their businesses alive, and their communities informed.
We have researched and distilled hundreds of these case studies into Fathm’s new five-week Revenue Development Lab. The program is informed by perhaps the most important insight of recent years: no single individual can drive revenue diversification. The skillsets to build and grow new revenue streams sit across editorial, marketing, technology, and audience engagement.
The programme will bring people who need to solve the same problem – revenue development – together, to share their expertise and insights across all these skillsets, in a safe, collective learning environment. Your ideas will be protected with an NDA, so you can discuss your plans openly, and get feedback and suggestions as you design a revenue pilot and test it over two months.
We’re using familiar tools: Zoom, Miro, and LinkedIn Groups; and you’ll be in the hands of two highly experienced facilitators, Corinne Podger and Fergus Bell. They have helped thousands of journalists to solve problems – from better audience engagement to affordable content production, from pandemic coverage to women’s empowerment.
The Fathm Revenue Development Lab will be a solid investment, with its focus on practical skills and tangible takeaways of immediate relevance and value to your business.
Fergus and I share a tremendous passion for helping this industry achieve a robust, financially secure future. Every problem has a solution, and we look forward to helping you explore the challenges facing your business and facilitate your journey in finding solutions at the first Revenue Development Lab in September.
If you are ready to take the next step in developing revenue for your organisation, apply for a place on Fathm’s forthcoming Revenue Development Lab or find out more about the other Labs we offer.