Meta funded a vibrant anti-disinfo ecosystem. Now they’ll likely kill it.
A critical survey on EU media funding, Spotify launches an actual revenue-sharing program for Creators, news publishers of late capitalism and 23 active calls.
Welcome!
This week on the Media Finance Monitor:
Meta funded a vibrant anti-disinfo ecosystem. Now they’ll likely kill it.
Have you ever received funding from the European Commission? Or have you never even tried? Tell us all about it!
Spotify launches a real revenue-sharing program for Creators
News publishers of late capitalism
23 active calls (6 new)
Meta funded a vibrant anti-disinfo ecosystem. Now they’ll likely kill it.
Meta founder Mark Zuckerberg (zuck, the zuck, The Great Eye—I kid you not) announced in a five-minute video on Tuesday that Meta is pulling the plug on fact-checker support in the U.S. The move is widely seen as another Trumpward tilt by the company, which recently swapped out its liberal-leaning public policy VP, Nick Clegg, for Republican Joel Kaplan and added UFC CEO and Trump confidant Dana White to its board. Zuckerberg also teased the return of newsy content to Facebook after years of dialing it back, while promising less moderation for some topics and a tougher stance on illegal or dangerous content.
Let’s skip the politics for a moment—the opportunism here is glaring. Instead, I want to focus on what these decisions mean for the fact-checking ecosystem.
While Meta walked away from many of its journalism-support programs years ago, it has remained the single biggest funder of fact-checking globally. Through its third-party fact-checking program (aka “trusted” or “3rd party flaggers”), Meta paid newsrooms to verify content flagged on its platforms. And Meta paid well—rumor has it some outlets earned as much as $700 per fact-check. In most contexts, that’s far more than the cost of production, making Meta the primary financial backer of anti-disinformation efforts worldwide.
On one hand, this support enabled the development of a vibrant anti-disinfo ecosystem, but it was so generous that many newsrooms lost the incentive to look for money elsewhere, making them dangerously dependent on Meta.
While the third-party fact-checking program was far from perfect, destroying this ecosystem to curry political favor feels cynical. These newsrooms used Meta's support to do far more than just verify content for the platform—they developed expertise, built teams, and created valuable public resources. We're not just losing the verification program; we're losing all this added value too.
In the US, we're likely looking at job losses for talented journalists and editors, and some newsrooms might have to shut down entirely.
The European situation is more complex. I've heard the European Commission and other stakeholders are still processing what this means for the EU, but I'd bet good money that Meta's "subsidy" will largely disappear in the coming years, if not immediately. One important difference is that unlike the US government, the European Commission funds some anti-disinformation work through the EDMO network and other initiatives. This institutional support gives EU fact-checkers a stronger safety net than their counterparts in the U.S. and other parts of the world. However, even with this advantage, the trade-off between reliance on platform funding and dependence on government subsidies may not feel like an entirely positive shift.
With reduced or erased platform funding and limited state subsidies at best, the role of commercial and audience revenues will likely increase
I’ve always found it perplexing that some fact-checkers were fine accepting money from Facebook but frowned upon for generating advertising revenue. If the argument is that funding from any source risks corruption, then Facebook’s subsidy should be viewed no differently than a commercial sponsorship. Conversely, if we believe fact-checkers can safely take Facebook’s money without being compromised—thanks to transparency and the safeguards required by IFCN or EFCSN membership—there’s no reason those same principles couldn’t apply to other forms of commercial revenue, making them just as acceptable. I think many newsrooms will see their views evolve on ads as the choice will become between a more permissive stance and extinction.
We will also see more audience revenue programs, donations and membership schemes, but their success is far from guaranteed. Maldita from Spain is one of the pioneers among anti-disinfo newsrooms in getting their audience to support them financially, but they only generated 2.38% of all revenues from their membership program last year (vs the 19% they received from Meta, or the 9.78% they received from the EU). Still, I see the most potential from this stream; in fact, whoever can move the fastest and launch a fundraising campaign on the back of the Zuckerberg video will likely have the best results short term (like the Guardian capitalising on the Washington Post deciding not to endorse Kamala Harris).
When we launched Lakmusz.hu, Hungary's largest fact-checking newsroom, we deliberately chose to stay independent from Meta's program. While this was the right decision for us, it meant heavier reliance on EU support—which came with its own complications. There are no easy solutions to the disinformation problem, but bad information causes real harm, often to the most vulnerable individuals and communities. Regardless of where one stands on the effectiveness of specific initiatives or the pros and cons of different funding models, I firmly believe giving up on the ecosystem would be a mistake.
Have you ever received funding from the European Commission? Or have you never even tried? Tell us all about it!
Some of you may remember the advocacy initiative we announced last September, hoping to persuade European decision makers to spend more money on the news media sector. As part of this effort, we’ve been analyzing a decade of European Commission spending on media, and I shared some early findings at the 2024 CE Media Trends Conference in Warsaw. We’re aiming to wrap up that analysis by the end of February.
But that’s only part of the picture.
We are also launching a survey today (with support from our great colleagues from Mertek Media Monitor) aimed at mapping how newsrooms and publishers access European funding.
The survey is not short, it takes about 10 minutes to complete, but I really believe the results will enable us to advocate for more EU funding for newsrooms like yours. Your responses and data will remain strictly confidential and will be used exclusively for this research project. Only anonymized and aggregated data will ever be published.
Please, take 10 minutes to answer our questions and feel absolutely free to share the survey with colleagues. The more responses we gather, the stronger our findings and recommendations will be.
Respond to our survey here!
Thank you, your help is really making a difference.
In related news, we are happy to announce that EP veteran David Kardos is joining our team as Advocacy Director. He is going to head our efforts trying to persuade key stakeholders at the Parliament, the Commission and the Council that journalism needs more public sector support.
David is a seasoned lawyer who began his career at Hungary's Radio and Television Commission in the early 2000s before transitioning to the European Parliament, where he has served as a legal adviser for the past two decades. Over the years, he has specialized in media and regulatory affairs, playing a pivotal role in shepherding landmark regulations such as the DSA and EMFA, among others.
David is so embedded in the policy scene he is the Brussels Bubble and he brings an unparalleled network and expertise to our team. We are fortunate to have him on board.
Our advocacy strategy is already taking shape, so stay tuned for more updates soon!
Spotify launches a real revenue-sharing program for Creators
I want to officially launch the Annual Media Finance Monitor Buzzword Bingo by saying “2025 is going to be a Year of the Creators”. Okay, that's more of a buzzphrase than a buzzword, but still, legacy publishers, watch out, it’s 2025, Creators are Ante Portas, in fact some of them may have already stormed through.
Evidence #1 - Spotify has announced a revenue-sharing and monetization program for podcasters and creators, akin to YouTube’s established model. While Spotify has long shared revenue with musicians, this marks a significant shift toward podcasters. Creators with at least 2,000 unique listeners and 10,000 hours streamed over 30 days—plus a minimum of 12 published episodes—can now earn a slice of Spotify’s ad revenue. Additionally, they can charge membership fees for exclusive content
This move has major implications for publishers too. Spotify remains a key platform for podcast consumption, yet exclusive (members-only) podcasts have historically been a logistical nightmare. Private RSS feeds were cumbersome, and Spotify didn’t support them at all, forcing publishers to forego direct monetization on one of their largest potential platforms. Some experimented with separate, podcast-only membership models on Spotify, but these often clashed with mature audience revenue strategies
Now, Spotify is collaborating with 20 membership platforms—including Substack, Patreon, and Steady—making it far easier to integrate monetization.
A little irony, but Spotify, one of the few European tech giants will start offering this program exclusively outside the EU, in the U.S., the U.K., Canada, and Australia for now, but support for new markets are promised soon. I guess this is what we get for being the only regulatory superpower of the world. I wish we had more aircraft carriers and Costcos instead.
Evidence #2 - There is an interview in the FT with YouTube chief Neal Mohan, in which they casually mention that the company “paid out $70bn in subscription and advertising revenue to partners in the past three years.” Simon Owens makes a good point (as always) on LinkedIn: sponsorships, merch and other revenues are on the top of this, so YT generates more revenue for creators than what Netflix or Disney spend on content.
News publishers of late capitalism
Our good friends at South180 posted a fascinating story about how the Finnish publishing giant Sanoma sued the Finnish public broadcaster YLE for offering video-on-demand and free educational content. Sanoma argued that the state subsidy YLE receives constitutes unfair support that illegally distorts the market. I understand that this is a complex issue, and I tend to be more pro-free market than many of my colleagues, but reading sentences from the official complaint brings out my inner Thomas Piketty. Free educational content for children?!?!! How dare they?!?!!!
“The complainant further explains that YLE additionally offers a range of online learning services, including services for primary and secondary education, and services preparing students for the matriculation exam ( 5 ). Moreover, adult learning services are also offered by YLE. The complainant states that YLE’s online learning services provide materials for students and teachers. These services are provided free of charge and therefore reduce customers’ willingness to pay for similar products and services offered by commercial operators. The complainant claims that YLE’s public service remit is not defined correctly, and that YLE has not been entrusted with offering online learning services.”
Now, here are the active calls, with the largest at the top:
A European public sphere: a new online media offer for young Europeans
Who: European Commission
How much: EUR 1,500,000 and EUR 3,200,000
What is it for: Engage young Europeans in pan-European discussions
How long: 12-14 months
Deadline: March 24th, 2025
Eligible countries: EU Member States, including overseas countries and territories
European Festival of Journalism and Media Freedom - NEW
Who: European Commission
How much: EUR 3,000,000
What is it for: Organize the European Festival of Journalism and Media Freedom
How long: 24 - 27 months
Deadline: March 31st, 2025
Eligible countries: EU Member States (including overseas countries and territories)
Media Freedom Rapid Response Mechanism
Who: European Commission
How much: No maximum grant (estimated budget: EUR 3,000,000)
What is it for: Support media freedom and journalist safety
How long: Up to 24 months
Deadline: January 15th, 2025
Eligible countries: Creative Europe participating countries (EU member states and non-EU countries associated to the Creative Europe Programme
Journalism Partnerships - Pluralism
Who: European Commission
How much: Up to EUR 2,500,000
What is it for: Protection of independent media and journalism
How long: Up to 24 months
Deadline: February 27th, 2025
Eligible countries: Creative Europe participating countries (EU member states and non-EU countries associated to the Creative Europe Programme)
Prevention of irregular migration through awareness raising
Who: European Commission
How much: EUR 1,250,000 - 2,500,000
What is it for: Prevent irregular migration through information campaigns
How long: 36 months
Deadline: April 1st, 2025
Eligible countries: EU Member States, including overseas countries and territories
Journalism Partnerships - Collaborations
Who: European Commission
How much: Up to EUR 2,000,000
What is it for: Cross-border media collaborations
How long: Up to 24 months
Deadline: February 27th, 2025
Eligible countries: Creative Europe participating countries (EU member states and non-EU countries associated to the Creative Europe Programme)
Internet Freedom Fund
Who: Open Technology Fund (OTF)
How much: USD 10,000 - 900,000
What is it for: Support innovative internet freedom projects
How long: Up to 24 months
Deadline: Rolling applications
Eligible countries: Global, except those subject to U.S. trade restrictions or export sanctions
CREA - Media Literacy
Who: European Commission
How much: Up to EUR 500,000
What is it for: Media literacy
How long: Up to 24 months
Deadline: March 6th, 2025
Eligible countries: Creative Europe participating countries (EU member states and non-EU countries associated to the Creative Europe Programme)
Information measures relating to the Common Agricultural Policy
Who: European Commission
How much: EUR 125,000 - 400,000
What is it for: Promote CAP awareness
How long: Up to 12 months
Deadline: January 16th, 2025
Eligible countries: EU Member States, including overseas countries and territories
Media actions in the area of communication
Who: European Parliament
How much: EUR 30,000 - 150,000
What is it for: Provide EU info, combat disinformation, promote media literacy
How long: At least 6 months
Deadline: January 15th, 2025
Eligible countries: EU member states
U.S. Embassy Tirana PAS Annual Program
Who: U.S. Mission to Albania
How much: Up to USD 100,000
What is it for: Promote professionalism and integrity in media reporting
How long: 6-24 months
Deadline: May 21st, 2025
Eligible countries: Albania
Boosting Fact-Checking Activities in Europe
Who: European Media and Information Fund
How much: Up to EUR 55,000
What is it for: Combat mis- and disinformation
How long: Up to 6 months
Deadline: February 28th, 2025
Eligible countries: EU, EFTA and UK
Strengthened Regional Networks and Cross-thematic Partnerships
Who: New Democracy Fund
How much: Up to EUR 53,000
What is it for: Strengthen regional and cross-thematic alliances
How long: Up to 12 months
Deadline: Ongoing
Eligible countries: Eastern Neighbourhood Countries (Armenia, Azerbaijan, Belarus, Georgia, Moldova, and Ukraine)
Democracy Commission Small Grants Program 2025 - NEW
Who: U.S. Mission to North Macedonia
How much: Up to USD 50,000
What is it for: Cybersecurity, media literacy
How long: 3 to 12 months
Deadline: March 31st, 2025
Eligible countries: North Macedonia
Visegrad Grants - NEW
Who: Visegrad Fund
How much: Up to EUR 30,000
What is it for: Media literacy, disinformation, transparency
How long: Up to 18 months
Deadline: February 1st, 2025
Eligible countries: V4 countries (Czechia, Hungary, Poland, Slovakia). * Consortia required.
Visegrad+ Grants - NEW
Who: Visegrad Fund
How much: Up to EUR 30,000
What is it for: Media literacy, disinformation, transparency
How long: Up to 18 months
Deadline: February 1st, 2025
Eligible countries: V4 countries (Czechia, Hungary, Poland, Slovakia), Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, North Macedonia, Montenegro, Serbia) and the Eastern Partnership regions (Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine). * Consortia required. The consortium composition determines eligibility.
U.S. Embassy Sofia PDS Annual Program - NEW
Who: U.S. Mission to Bulgaria
How much: Up to USD 25,000
What is it for: Strengthen media, promote media and digital literacy
How long: Up to 12 months
Deadline: August 1st, 2025
Eligible countries: Bulgaria
MVA Forward
Who: MVA
How much: Up to USD 25,000
What is it for: Media support
How long: Up to 12 months
Deadline: June 3th, 2025 - Rolling applications
Eligible countries: Global (low- and middle-income countries preferred)
Professional Development Grants for Environmental Journalism
Who: Journalismfund Europe
How much: Up to EUR 20,000
What is it for: Capacity building of environmental investigative journalists
How long: Up to 12 months
Deadline: February 13th, 2025
Eligible countries: European countries
REINFORCING - Responsible Digitalization - NEW
Who: REINFORCING
How much: Up to EUR 20,000
What is it for: Fighting misinformation and manipulation
How long: 8 months
Deadline: January 30th, 2025
Eligible countries: EU countries (member States or associated countries)
European Cross-Border Grants Programme
Who: Journalismfund Europe
How much: Unclear, but likely up to EUR 14,000
What is it for: Cross-border investigative content
Deadline: January 23rd, 2025
Eligible countries: At least 80% of the requested budget should go to local journalists/media from EU countries
European Local Cross-Border Grants Programme
Who: Journalismfund Europe
How much: Unclear, but likely up to EUR 10,000
What is it for: Local cross-border investigative content
Deadline: January 23rd, 2025
Eligible countries: EU countries
Pluralistic Media for Democracy
Who: Journalismfund Europe and IMS
How much: Unclear (call amount: EUR 700,000)
What is it for: Support media in "news deserts"
Deadline: February 13th, 2025
Eligible countries: EU 27 countries, including Albania, Bosnia and Herzegovina, Montenegro, North Macedonia, and Serbia.
Until the next issue, thanks for reading and take care.
Peter Erdelyi and the rest of the Center for Sustainable Media team