Turning journalism’s existential crisis into an opportunity

Big tech's latest views on the value of content, news and copyright, a comprehensive global study on media funding regulations, mapping journalism funders in the Western Balkans and 16 active calls.

Welcome!

This week on the Media Finance Monitor:

• Turning journalism’s existential crisis into an opportunity

• Big Tech: We absolutely don’t need creators and publishers, but please hand over all your content for free

• Here is how 23 governments are trying to regulate fair compensation

• Do you think the EU or the US spends more on media support in the Western Balkans?

• We need to change the way journalism is funded in Europe

• 16 active calls (4 new)

Turning journalism’s existential crisis into an opportunity

Up until a few days ago, I was skeptical about solutions journalism. Frankly, I thought it was mostly a matter of packaging—a new label slapped on well-researched, longform pieces, aimed at presenting them as something fundamentally new, largely to engage donors (and, to a lesser extent, the audience) who might have grown indifferent to "regular" reporting. It felt like a pitch: "Okay, so you don’t want to support investigative journalism or feature reporting. But have you tried the hottest new thing, SoJo? Come, have a taste."

While I still believe that labeling is a significant part of it (and there's nothing wrong with that—whatever gets donors going), after spending two days in Prague last week at the first European Solutions Journalism Summit, I left convinced that there's something genuine about this movement.

I’m not here to write about SoJo, partly because I'm not qualified, and also because I’m trying—with iron discipline—to keep this newsletter focused on funding. However, the keynote by Tina Rosenberg, one of the founders of the Solutions Journalism Network in the U.S., touched on something that I believe is relevant to how the news media is funded.

Rosenberg spoke about the dual crises facing journalism: economic and existential.

She used a very interesting frame getting into the business of news, talking about newspapers losing more jobs than the coal industry in recent years. The data may be murky, but it raises an important question: Why do job losses in the news industry seem to bother the general public far less than those in other sectors?

Part of the reason is understandable. Journalists and media professionals, particularly those in cities, often have more career options. If you're laid off from a newsroom, it’s tough, but transitioning into adjacent fields is often possible. While these roles might not be the same, they still provide alternatives—something workers in other industries, like coal, don’t have. If you grow up in a coal town and the mine shuts down, your prospects are much bleaker. The industry-specific skills and the local economies tied to coal are difficult to transfer elsewhere, leaving fewer options. So it makes sense that the public feels more sympathy for job losses in industries where the consequences are more severe and far-reaching.

However, the other factor behind the muted response to journalism's decline is the deepening crisis of trust. The perception of bias, sensationalism, or agenda-driven reporting has eroded the credibility of the media. This lack of trust strikes at the heart of journalism’s role in society. So when a news outlet goes under, it’s often seen as no great loss. This is the existential crisis Rosenberg referred to—and it’s something every reporter, editor, and publisher needs to be thinking about.

These crises aren’t abstract; they are daily realities in many CEE newsrooms. And while painful, they also represent an opportunity for transformative change. A sense of urgency can drive innovations that might have faced resistance in more stable times.

Rosenberg advocates for more solutions journalism, and she may be right. However, I would argue that audience revenues in general and membership programs specifically are also crucial parts of the answer. 

Membership models, when implemented thoughtfully, do more than provide financial support—they deepen the relationship between journalists and the communities they serve. When readers become members, they aren’t just consumers of content; they are stakeholders in the journalism they rely on. This dynamic allows newsrooms to be more transparent, more accountable, and more aligned with the needs and interests of their audiences, directly addressing the existential crisis of trust we now face.

This shift isn't just about survival; it's about creating a more robust, responsive, and relevant journalism ecosystem. 

Big Tech: We absolutely don’t need creators and publishers, but please hand over all your content for free

Sometimes reading statements from Big Tech leaders about publishers and content creators makes me feel like we’re already living in a computer simulation designed by Jaroslav Hašek, Milan Kundera, or perhaps both.