The Correspondent hits $2.5 million crowdfunding goal from 42,780 backers to unbreak the news
The ad-free journalism platform hit its goal after 29 days, and will start publishing by mid-2019
NEW YORK and AMSTERDAM -- December 13, 2018 -- The Correspondent (thecorrespondent.com) — a new online media platform for unbreaking news — has successfully reached its crowdfunding goal of $2.5 million in 29 days.
The Correspondent launched its month-long crowdfunding membership drive on November 14 to change what news is about, how it’s made, and how it’s funded. To date, 42,780 founding members from more than 130 countries have pledged their support and dollars to join The Correspondent. This $2.5 million funding will allow The Correspondent to build a newsroom of full-time correspondents, editors, developers, designers, operations, and back-office staff in anticipation of the launch of the platform by mid-2019.
Founding editor Rob Wijnberg said: “We’re overwhelmed and humbled by the support we’ve received from our supporters all over the world. The fact that we hit our fundraising goal in such a short period of time shows how much people care about journalism, and how willing they are to pay for it. We can’t wait to start building a newsroom together and telling stories that will help us understand the world around us – and change it for the better.”
Just 23 days into its campaign, The Correspondent broke the world record for the number of backers in a journalism crowdfunding campaign. The previous record — 18,933 — was held by De Correspondent, The Correspondent’s counterpart in the Netherlands and its 2013 campaign.
New members can continue to join The Correspondent at any time and choose their own membership fee, giving them full access to The Correspondent for one year once the platform launches next year. The median membership fee during the crowdfunding campaign was $30.
The Correspondent’s unique model allows members to collaborate with correspondents and editors throughout the reporting process, sharing knowledge, expertise, and personal experiences to shape the stories that are told.
Wijnberg added: “We believe journalism should be affordable to anyone. That’s why we have introduced a Choose What You Pay model. We’re so happy to actually see it work. This way we are directly funded by our readers, yet still accessible to everybody. We’re a member-funded public good. It’s a win-win.”
ABOUT THE CORRESPONDENT
The Correspondent (thecorrespondent.com) is a movement for unbreaking news. It aims to redefine what news is about, how it’s made, and how it’s funded.
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About The Correspondent
The Correspondent is a movement for unbreaking news. Founded in Amsterdam, now bringing our ad-free, member-funded, collaborative journalism to the English language.