Can crowdfunding be a new lifeboat for journalism?

This week we focus on how the digital media era changes the way which journalism funded. Angela Phillips’s post: Will crowdfunding save journalism? inspired me to think that can crowdfunding become a new business model for journalism?Word Cloud

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Crowdfunding journalism refers to a business model that is submitted by the people from the press to some report plans, be recognized by the public, and obtain a large number of small public funds to begin the implementation of the news report plan. Some crowdfunding-related websites are very popular in the world, such as US’s kickstarter.com, Australia’s Youcomnews.com, Italy’s Spotus.it, and France’s jaimelinfo.

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The merits of the crowdfunding journalism are that flexible high-quality news reports based on brainstorming and independent funding will no longer rely on professional media. This business model is able to increase the number of readers and speak for the vulnerable groups while pursuits independent investigations and high-quality news content.

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One negative of crowdfunding is the objective and impartiality of news report. In terms of news project sponsors, there is no limitation. The sponsor can be professional journalists or ordinary citizens. Unlike professionally educated journalists, there may be no professional media literacy of ordinary citizens. As a result, the objectivity and reality of the news may not be guaranteed.

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Last, in my opinion, no matter whether crowdfunding can be a new business model which can gain money for the journalism. It, at least, a nice try to change the old heavily advertising based business model for the journalism industry.

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