Crowdfunding for Independent Print Media: E-Commerce, Marketing, and Business Development

Abstract

Crowdfunding, as an alternative method to fundraising, triggers increased awareness in society, while it is also an effective marketing tool for campaign runners. The production and release of independent print media poses significant hurdles in terms of financing. Including the community in raising funds through crowdfunding seems like a good possible alternative. This paper examines which types of crowdfunding the independent print media use, and why, and also focuses on the possible types of crowdfunding that are the best fit for organizations. The study applies a case example approach on a total of thirty independent print publications that have relied on crowdfunding. We found that independent print media focus on reward-based crowdfunding for the launch of publications, the method being not used solely for fundraising, but also specifically for community building. Practitioners benefit from the insights by being enabled to draft campaigns that are better-suited to the specific needs of the independent media target group, and to secure financing for the start of the operations. The approach of this study is of special value, as the research and empirical insights into the independent media sector are limited.