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

Peter Konhäusner,Veronica Câmpian,Marius Thielmann,Dan-Cristian Dabija

doi:10.3390/su131911100

Peter Konhäusner, Veronica Câmpian + Show 2 more

Open Access

https://doi.org/10.3390/su131911100

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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.

Highlights

The main research aim of this study, empirically based on the examination of case examples, was to focus on the type of crowdfunding that is used by the independent print media
Observing the gathered and discussed data, the conclusion can be drawn that every crowdfunding campaign used for independent print media offered rewards
As the goal of the crowdfunding campaigns of the independent print media are printed magazines, and the independent media organizations often rely heavily on a nonprofit approach, the reward-based crowdfunding approach seems bettersuited than other monetary-driven campaigns

Summary

Introduction

As well as digital, media act as infomediaries between the producers and the recipients of information [1,2]. A shift from analogue to digital media usage can be observed [3,4,5,6]. With the emergence of social media at the advent of the Web 2.0, the roles of the producer and the consumer became fluent [7,8,9]. One of the consequences, triggered by filter bubbles, is the rise of fake news leading to social tensions [10,11]. Media companies have a social responsibility when distributing information, and influencing local, regional, and international communities [12,13,14]

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