With persistent rumors about top newspapers shifting toward nonprofit models, the "beg your readers for cash" plan is working for at least one smaller outlet.
A week ago, Paste, a music magazine, began asking its readers for donations. The Associated Press reports that "Editor-in-chief Josh Jackson said Thursday the suburban Atlanta-based monthly has raised $166,000 in donations. The magazine focusing on music, film and culture is struggling after a sharp decline in advertising revenue."
In an interview with Media Life, Jackson explained that the magazine has been able to drum up support by offering exclusive bonus tracks donated by artists like the Indigo Girls, Robyn Hitchcock, and The Decemberists.
You only have to donate $1 to get the tracks but Johnson said that "A $1 donation gets you access to more than 90 rare tracks from some very cool bands. But we've had more $50 donations than $1 donations."
As for how much more cash the magazine would like to raise? "We haven't published a specific goal because there's a difference between surviving to publish another day and getting on more solid financial footing. Both are in the low six-figures."
Of course news institutions like The New York Times have far more complex problems and larger cost structures that can't be solved as quickly as Paste's. But the relative ease with which a small magazine that doubtless has fewer affluent fans than the Times has been able to raise cash should give skeptics a willingness to look at the benefits to shifting toward a nonprofit or hybrid model.
As for how much more cash the magazine would like to raise? "We haven't published a specific goal because there's a difference between surviving to publish another day and getting on more solid financial footing. Both are in the low six-figures."
Of course news institutions like The New York Times have far more complex problems and larger cost structures that can't be solved as quickly as Paste's. But the relative ease with which a small magazine that doubtless has fewer affluent fans than the Times has been able to raise cash should give skeptics a willingness to look at the benefits to shifting toward a nonprofit or hybrid model.
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