Ingram: Crowdfunding is about more than money

 

HuffPost isn’t just asking readers to front the bill for continue coverage of #Ferguson with its new partnership with Beacon Reader, said GigaOm writer Matt Ingram.

It’s pretty hard to argue the company can’t afford the scratch to pay for the fellowship and that it takes some nerve to ask readers when parent company AOL brought in hundreds of millions of dollars last quarter. Bullett Media didn’t mix any words when they told HuffPost to “go f*ck themselves with their bullsh*t fellowship.”

Critics are missing the point, Ingram said. It’s about more than money.

The Ferguson Fellowship connects funders directly with a reporter and lets HuffPost test the waters to see if the subject merits a long-term investment.

And that’s not such a bad thing. Innovation is needed.

“For these kinds of critics, journalists being paid a full salary seems to be the only model that they are willing to accept — but the reality of the media industry is that those jobs are disappearing, whether we like it or not,” Ingram said.

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Khari Johnson
Khari is founder and editor of Through the Cracks: Crowdfunding in Journalism. He also writes about bots and artificial intelligence for VentureBeat. He has built news startups in the U.S. and Europe for the last decade.

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