The new fund for media diversity is initially endowed with six million euros – funding of up to 400,000 euros will be awarded per organization.
Berlin/Vienna/Zurich (OTS) – The Media Forward Fund started its first round of funding this Monday as the first cross-border fund for journalism funding in Germany, Austria and Switzerland. The fund is now committed to ensuring that there are more independent quality media with viable business models that publish strong, trustworthy content and are sustainably financed in the long term. The aim is to strengthen diversity in journalism and thus democracy.
The cross-border Media Forward Fund was founded on the initiative of the Schöpflin Foundation, Stiftung Mercator Schweiz, Volkart Stiftung, Rudolf Augstein Stiftung, ZEIT STIFTUNG BUCERIUS, Allianz Foundation, Foundation for Media Diversity, ERSTE Foundation, DATUM-STIFTUNG for Journalism and Democracy and the impact investor Karma Capital and Publix – House for Journalism & Publicity was founded as a non-profit fund and has to date been endowed with six million euros. The development of the fund was supported by project funding from the German Federal Government Commissioner for Culture and Media. Three rounds of funding are planned per year: The funding amounts to either 200,000 euros for project funding or 400,000 euros for organizational funding per medium for two years.
Independent funding for independent journalism
Criteria in the areas of transformation, user focus, diversity, independence and quality were defined for the allocation of funding. Media that are oriented towards the common good and which sustainably strengthen the media landscape and its role in society should be promoted. “In order for journalism to be financed sustainably, we need media makers who have the courage to experiment with new business models – and also donors who provide the necessary capital for this
“, says Martin Kotynek, founding managing director of the Media Forward Fund. “The fund provides media makers with funding from foundations, impact investors and private individuals – with the aim of helping us overcome this acute transformation crisis in the media together.
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“Money has to show its colors!”
„Journalism now needs a lot more money from a lot more people. Then our democracies have a chance. Money has to show its colors here!
“, says Hans Schöpflin, CEO of the Schöpflin Foundation, about his philanthropic commitment to the Media Forward Fund. “This is about protecting and strengthening democracy through a strong, functioning, independent media landscape
says Schöpflin. “A robust democracy requires a lively media landscape; This now needs to be defended and strengthened with the Media Forward Fund
“, says Manuel Hartung, CEO of the ZEIT STIFTUNG BUCERIUS. Andrew Holland, Managing Director of Stiftung Mercator Switzerland, emphasizes the opportunity for international cooperation within the framework of the fund: “The challenges facing journalism and democracy can only be solved across countries.
“The impact investor Sebastian Klein, founder of Karma Capital, says about the motivation for his contribution: “Nobody is investing in media yet – that urgently needs to change. My aim is to lead the way with the Media Forward Fund and show that it can be done. I want to pick others up to go with me. It’s about mobilizing capital
says Klein.
Boris Marte, CEO of the Austrian ERSTE Foundation, emphasizes that critical journalism is in danger everywhere: “We have been promoting independent journalism and media diversity in Eastern Europe for many years. But fact-based reporting is also at risk in established democracies like ours. Now it’s time to act.
“For Stephanie Reuter, managing director of the Rudolf Augstein Foundation, the find is “a strong signal of departure. We work together to strengthen pioneers for a well-informed public. This is the best remedy against news deserts and disinformation campaigns.
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Fund with pooled funding
Eleven initiators have so far collected funding in the newly founded Media Forward Fund. “A shared pool has the advantage that a foundation partner does not support a single medium with which one is then associated in terms of content, but rather one is committed to strengthening media diversity as a whole
“, explains Martin Kotynek. “The structural separation between the funders and the independent jury at the Media Forward Fund ensures internally and externally that the funders do not influence the funding decisions.
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Who is eligible?
The Media Forward Fund is open to projects after the idea phase – as soon as a business plan and, ideally, an initial test of product/market fit are available. Media that fill gaps in local and national reporting are particularly eligible. Particular attention is paid to target groups that have previously had little access to journalism.
For smaller media outlets – with up to 30 full-time employees throughout the company – the fund provides organizational support of up to 400,000 euros per funding partner. Smaller media can thus decide for themselves where the funding is best used. Larger houses are eligible for funding provided they are oriented towards the common good and co-finance the projects in a 50:50 ratio. For this purpose, up to 200,000 euros in funding is generally available per funding partner. In addition to financial support, the fund offers organizational support, for example on media law or business model development.
The vision of the MFF
„In an ideal world, the find would one day no longer be needed because the transformation crisis in the media industry has been overcome and quality journalism can rely on functioning business models again
says Kotynek. Until then, the vision of the Media Forward Fund is for foundations and private sponsors to make advance payments in order to establish a privately organized structure for media funding for three countries. It is intended to show in practice how independent quality journalism funding works, with the idea that the public sector will then step in as a sponsor.
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