Media Forward Fund launches first funding round in three countries

Berlin / Vienna / Zurich - July 2, 2024: This Monday, the Media Forward Fund launched its first funding round as the first transnational fund for journalism funding in Germany, Austria and Switzerland. From now on, the fund is 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 transnational Media Forward Fund was established as a non-profit fund on the initiative of the Schoepflin Foundation, Stiftung Mercator Schweiz, Volkart Foundation, Rudolf Augstein Foundation, ZEIT STIFTUNG BUCERIUS, Allianz Foundation, Stiftung für Medienvielfalt, ERSTE Foundation, DATUM Foundation for Journalism and Democracy as well as the impact investor Karma Capital and Publix - Centre for Journalism and Public Debate and has been endowed with six million euros to date. The development of the fund was supported by the German Federal Government Commissioner for Culture and the Media with project funding. Three funding rounds 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-centricity, diversity, independence and quality form the basis for the allocation of funding. The aim is to support media that are committed to the common good and sustainably strengthen the media landscape and its role in society. “In order for journalism to be financed sustainably, we need media makers who have the courage to experiment with new business models - as well as investors who provide the necessary capital,” says Martin Kotynek, Founding Managing Director of the Media Forward Fund. “The fund provides media makers with this funding from foundations, impact investors and private individuals - with the aim of overcoming this acute transformation crisis in the media together.”  

“Money must fly the flag”

“Journalism now needs a lot more money from a lot more people. Then, our democracies will have a chance. Money must fly the flag here!” says Hans Schöpflin, Chairman of the Board of the Schoepflin 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. “For a resilient democracy, you need a vibrant media landscape; the Media Forward Fund needs to defend and strengthen this,” says Manuel Hartung, CEO of ZEIT STIFTUNG BUCERIUS. Andrew Holland, Managing Director of Stiftung Mercator Schweiz, emphasizes the opportunity for international cooperation within the framework of the fund: “The challenges for journalism and democracy can only be solved across borders.” Impact investor Sebastian Klein, founder of Karma Capital, explains the reasons for his contribution: “No one has invested in media yet – this needs to change urgently. My ambition is to lead the way with the Media Forward Fund and show that it can be done. I want to encourage others to join in. It's about mobilizing capital.” 

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 under threat in established democracies like ours. Now is the time to act.” For Stephanie Reuter, Managing Director of the Rudolf Augstein Foundation, the fund is “a strong signal of a new beginning. We are joining forces to strengthen pioneers for a well-informed public. This is the best remedy against news deserts and misinformation campaigns.” 

Fund with pooled resources

Eleven initiators have so far pooled their funding in the newly established Media Forward Fund. “A joint pool has the advantage that a foundation partner does not support a single medium with which it is then associated in terms of content, but is instead committed to strengthening media diversity as a whole,” explains Martin Kotynek. "The structural separation between funders and independent jury ensures both internally and externally, that funders do not influence funding decisions."

Who is eligible for funding?

The Media Forward Fund is accessible for projects after the idea phase - as soon as a business plan and, in the best case, an initial test of the product/market fit are available. In particular, media that fill gaps in local and national reporting are eligible for funding. Special attention is paid to target groups that have previously had little access to journalism.

For smaller media - with up to 30 full-time employees in the entire company - the fund provides organizational funding of up to 400,000 euros per funding partner. This allows smaller media outlets to decide for themselves where the funding is best used. Larger organizations are eligible for funding if they are oriented towards the common good and co-finance the projects in a 50:50 ratio. As a rule, up to 200,000 euros in funding is available per funding partner. In addition to financial support, the fund offers organizational support, for example with regard to media law or business model development. 

The Vision of the Media Forward Fund

“In an ideal world, the fund would one day no longer be needed because the transformation crisis in the media industry would have been overcome and quality journalism would once again be able to rely on functioning business models,” says Kotynek. Until then, the vision of the Media Forward Fund is that foundations and private sponsors will make advance contributions in order to establish a structure for media funding for three countries organized by the civil society. It is intended to show in practice how independent quality journalism funding works, with the idea that the public sector will subsequently step in as a funder.

Further information for journalists:

LOEBELL NORDBERG
Annabel Loebell
Tel: +43-676-6904023
E-Mail: al@loebellnordberg.com