Saturday, 17 August 2013

News Magazine Seeks Crowdfunding To Bootstrap Launch

Launching up a new current affairs project might seem risky at the best
of times, and even more so when newspaper revenues are declining and the
internet offers so much free content, but journalist Gerard Cunningham
thinks he's found a winning formula.

Guth, a monthly subscription supported online news magazine, is testing
the waters using a crowdfunding model to raise subscriptions. If it
meets its target, then the first issue should be available by
mid-Autumn.

Cunningham, a journalist with ten years experience, was inspired by
several overseas examples, from De Correspondent in the Netherlands to
the crowdfunding success of US journalist and blogger Andrew Sullivan.

"Crowdfunding first came across my radar about six months ago, when I
started hearing about Kickstarter," Cunningham says.

"The idea struck me immediately as an innovative way to get a project
off the ground, solving two problems startups often face, a lack of seed
capital and the difficulty of measuring the demand for a new idea."

"In brief, an idea is pitched at a price, and if that sum is raised
during a defined period, then the promised funds go to fund the idea,
whether its a book, a music album, anything you can think of really."

"Separately, I'd been working on the idea of a subscription based
magazine aimed at the Irish market for some time. News – in the sense of
immediate, breaking news – is covered pretty well in Ireland, but
there's a lack of longer journalism – not longform exactly, but longer
term, the kind of story that takes more than a few days or, at best, a
couple of weeks to cover."

"Crowdfunding seemed like an ideal solution to the biggest hurdle to
making that idea a reality, raising the initial seed capital for a
magazine in a market where everyone was wary of investing in
journalism."


You can learn more about Guth at http://guth.ie

Donors can pledge their subscriptions at http://igg.me/at/guth

Gerard Cunningham can be reached at (086)6073060