Saturday, March 30, 2013

New quality online ‘newspaper’ without ads planned for Dutch market

The Irish Times reporting:
A new quality online “newspaper” due to launch in Amsterdam in September has raised more than €1 million in just eight days from subscribers willing to pay in advance for what it describes as “slow journalism” – in-depth news analysis, entirely free of advertising.
As newspapers all over the world struggle to cut costs, increase advertising revenue and generate income using website paywalls, the backers of De Correspondent are using an entirely new model – appealing over the heads of advertisers directly to readers who value quality journalism above all.
By midday yesterday, the new news “platform” had exceeded its start-up target of €1 million through a campaign of so-called “crowd funding”, raising the cash directly from 15,754 individual subscribers so far, each of whom has paid an annual subscription of €60 in advance.
That extraordinary response means the publication has already raised more than 105 per cent of its launch costs, and with 21 days of the period allocated for fundraising still to go, now confidently expects to be significantly over-subscribed.

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