Crowdfunding Journalism: An Alternative Business Model
This paper will discuss crowdfunding in journalism. More specifically the role crowdfunding can play in contemporary journalism and the effects that crowdfunding journalism has on journalist. With the increasing pressures on journalists to be more technologically inclined, journalists are forced to spend less time performing the classic task of journalism such as fact-checking and in-depth research, while spending more time performing technical tasks such as editing and packaging.
The research on crowdsourcing will deluge into the issues regarding the outdated business model journalism operates in. Journalist are currently largely freelancer who contract themselves to media corporation, under this model self-censorship is regarded as an issue because in the competitive market journalist must write what they’re told to a great extent. However, in order to fully grasp the issue a brief history of journalism and more broadly news business models must be understood. Beyond the numbers of the crowdfunding model, the paper will discuss the implication journalist face when operating under this modern model of media. The primary research question will answer how crowdfunding impact journalists and differs from previous news media funding models?
The topic attempt to analyse the fourth topic choice regarding the impacts of the commodification/commercialization models on news content. Furthermore, under the assumption that the current business model is broken, the research will challenge the traditional model with more democratic business models, including crowdsourcing. The main objective of this paper is to develop a greater understanding of crowdfunding within the media industry, ultimately in search for the potential downfalls and successes the model could face. The paper will also discuss the broad theme of technological improvements and their positive impacts on journalists, while attempting to answer whether the growth in technology can enable society to live in a more utopian democracy.
In summary, the research essay will explore crowdfunding’s future in cultural industries and more specifically journalism.