What's Happening?
Press Forward, a coalition of 110 funders, has allocated $400 million towards local news ecosystems, aiming to surpass its initial $500 million goal. The initiative focuses on closing local coverage gaps, sustaining trusted news sources, providing necessary
infrastructure, and advancing policies to expand access to local news. Press Forward operates through regional chapters, pooled funds, and aligned grantmaking, encouraging funders to increase their contributions to local news. The initiative has successfully attracted funders new to journalism philanthropy, with 39% joining in the last five years and 67% increasing their funding since joining.
Why It's Important?
The Press Forward initiative is crucial in addressing the decline of local news outlets, which are vital for informed communities and democratic engagement. By channeling significant funds into local news, the initiative helps sustain journalism that might otherwise struggle due to financial constraints. This effort supports the public's access to reliable information, which is essential for civic participation and accountability. The initiative also encourages funders to engage in policy advocacy, a critical area for ensuring long-term support and sustainability of local news ecosystems.
What's Next?
Press Forward plans to continue expanding its funding efforts and policy advocacy, aiming to transform local news outlets and support those affected by funding cuts from the Corporation for Public Broadcasting. The initiative is also focused on diversifying revenue models for nonprofit news organizations, combining philanthropic dollars with earned revenues like subscriptions and event income. This approach is intended to create sustainable financial models for local news outlets, ensuring their longevity and continued service to communities.
Beyond the Headlines
Press Forward's efforts highlight the importance of collaboration among funders, civic organizations, and local news outlets. By fostering partnerships and providing technical assistance, the initiative reduces barriers for new funders and encourages a collective approach to supporting local journalism. This collaborative model not only strengthens local news ecosystems but also promotes a diversified and resilient funding landscape for journalism.
