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How to raise funding for new media

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Saved by Louise Yarnall
on November 15, 2008 at 12:27:15 pm
 

How do we do fund-raising based on our media products? That's our session here at Public Media Camp. Participants: Terry Green, Santa Cruz's KUSP; Mike Lambert, KUSP; Suzanne Yada, Public Press; Louise Yarnall, researcher. Riddle: Can the pledge-drive model used by public radio work for online media?

 

Print media ideas are thinking about creating new payment information services: large-scale databases, transcription of radio. 

 

Radio media encourages community AND corporate support. KUSP's income: 10% government funding; 10% private foundations; 33% corporate; 47% listener support. There's new thinking about giving listeners options on how to donate their money, which is formally called Vendor Relationship Management (VRM). Instead of supporting "public radio," the consumer supports specific producer directly. The question here: How to factor in overhead costs that support those producers and shows?

 

There are some lessons to be learned from Ira Glass' requests for support for podcasts of This American Life, and the Obama campaign. Make requests for a little money while delivering the content; if everyone gives a little, it adds up. Keep it personal. Make the money request in email sometimes. Keep the amount small. Tie it to a specific project. Important to understand most likely times of day people will donate. Voluntary subscription or donation requests can be embedded in hot stories that receive high traffic. Caveats: Don't let potential fund-raising option cloud news choices. Not sure if we're building up brand loyalty.