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The New York Times hopes philanthropy will boost its journalism

World News Publishing Focus

World News Publishing Focus
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The New York Times hopes philanthropy will boost its journalism

The New York Times said that one of its executives Janet Elder would lead the newspaper’s efforts in seeking new philanthropic funding. Philanthropies already fund some of the paper’s investigations, but the publisher now aims to formalise philanthropy as a new revenue source.

While third-party funding may prove to be a significant complimentary source of revenue in the face of declining print advertising and online ad market dominated by Facebook and Google, the New York Times will have to build the operation carefully in order to guarantee editorial independence from funders, Poynter noted

The New York Times's announcement follows closely that by the Guardian, which last week launched a nonprofit to raise money from foundations and donors to support its journalism, Digiday reported.

Author

Teemu Henriksson's picture

Teemu Henriksson

Date

2017-09-04 11:40

Author information

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