THE IMPACT OF CROWDFUNDING ON JOURNALISM

Abstract

This article analyzes the impact of crowdfunding on journalism. Crowdfunding is defined as a way to harness collective intelligence for journalism, as readers’ donations accumulate into judgments about the issues that need to be covered. The article is based on a case study about Spot.Us, a platform pioneering community-funded reporting. The study concludes that a crowdfunded journalistic process requires journalists to renegotiate their role and professional identity to succeed in the changing realm of creative work. The study concludes that reader donations build a strong connection from the reporters to the donors, which creates a new sense of responsibility to the journalists. The journalists perceive donors as investors, that cannot be let down. From the donor's perspective, donating does not create a strong relationship from donor to the journalist, or to the story to which they contributed. The primary motivation for donating is to contribute to the common good and social change. Consequently, donors’ motives are essentially more altruistic than instrumental. Thus, when the public donates for a cause, the marketing of a certain type of journalism should be aligned with the features of cause marketing. The traditional role of journalism as a storyteller around the campfire has remained, but the shared story is changing: people no longer share merely the actual story, but also the story of participating in a story process.

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