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News organisations: How to finance innovation

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By Cosa Vostra. Slides from a talk at newsrewired, 11 July, London

Published in: News & Politics
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News organisations: How to finance innovation

  1. 1. How to finance innovation? News Organisations
  2. 2. It’s all about finding the right strategy
  3. 3. WHO ARE WE? Louis Dumoulin Partner Head of UK Office @CosaVostra louis@cosavostra.com 07401 663351 cosavostra.com : @louisdumoulin Digital consultancy practice specialised in innovation Leading European consultancy in terms of funding obtained for news organisations through the Google Digital News Initiative
  4. 4. WHAT I AM GOING TO TALK ABOUT DIGITAL NEWS INITIATIVE: Key learnings of 20+ successful applications CROWDFUNDING: Leverage your community’s interest into your business future
  5. 5. #CROWDFUNDING: LEVERAGE YOUR COMMUNITY’SINTEREST INTO YOURBUSINESS FUTURE
  6. 6. CROWDFUNDING: In 2017 in France alone, news projects raised more than 8 millionusing crowdfunding. Market Trends 249 journalistic projects raised more than 10k$on Kickstarter. Patreon model on the rise: 300 million distributed in 2017. The future of subscription?
  7. 7. CROWDFUNDING 1. First weekis key Key Learning s 2. Make the best of your community 3. Plan posting in advance to keep the momentum
  8. 8. #FOCUS: THE DIGITAL NEWS INITIATIVE
  9. 9. THE DIGITAL NEWS INITIATIVE KEY FIGURES 4800+ applications since the start of the Fund 461 supported projects €94m in funding (€203 900 average) distributed in 29 countries. Top 3: Germany, UK and France NEXT ROUND Last deadline in autumn Circa €25 million still available.
  10. 10. DNI: COSAVOSTRA’S EXPERTISE 20+SUCCESSFUL APPLICATIONS 80% SUCCESS RATE vs. 10% average across all applicants WIDE NETWORK OF SEASONED CONSULTANTS
  11. 11. DNI: KEY LEARNINGS #1 A FUND FOR ENTHUSIASTS, NOT OPPORTUNISTS ● Focus on your concrete issues ● Think long-term FUNDING BREAKDOWN ● Exploring new technologies: €21.5m ● Telling local stories: 13.2m ● Boosting digital revenues: €11.8m ● Battling misinformation: €5.1m # #
  12. 12. DNI: KEY LEARNINGS #2 ● News focused ● Impact on your ecosystem ● Innovation ● Feasibility GET THE BIG PICTURE ● Benchmark ● User journeys ● Detailed BP ● Letters of interest... KEEP AN EYE FOR DETAILS 4 main criteria: # #
  13. 13. GET IN TOUCH Louis Dumoulin Partner Head of the UK Office SIMPLE: louis@cosavostra.com FAST: 07401 663351 WEBSITE: cosavostra.com : @louisdumoulin

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