Impact investing: a new frontier for journalism funding?
Fri 11 April 2025
14:00
Free
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In 2024, experts finally acknowledged that there are no magic solutions to rescue the journalism industry. Traditional advertising is insufficient, and membership models require significant scaling and resources. At the same time, donor funding has reached a plateau. In light of this daunting landscape, the question arises: where will new capital to support the growth and innovation of media businesses come from?
In sectors focused on social good, such as financial inclusion and clean energy, impact investing—allocating capital to achieve social outcomes with below market rate returns—has been essential to close financing gaps. However, impact investors have largely avoided the journalism sector, perceiving it as high-risk and low-return. And, impact investing models are not well equipped to address the unique challenges faced by media organizations and news products, which typically deliver long-term, intangible value.
Nevertheless, there are signs of a shift. Growing concern over declining news media has catalyzed a heightened focus on securing more effective funding and introducing new forms of capital for early-stage and growth-oriented media entrepreneurs. The critical question remains: how can the journalism sector unlock additional purpose-driven capital? Which financial instruments—such as revenue-based financing, results-based financing, equity grants, concessionary loans, or impact bonds—show the most promise for media companies at various stages of growth and scale?
This panel will delve into the potential of impact investing to catalyze new capital and transform business models for the journalism industry. It will examine the demand side of the equation—exploring how to create investable media enterprises—as well as the supply side—identifying the financial instruments that are best suited for news outlets in different geographical and political contexts
Moderated by Yoeri Albrecht.
Organised in association with Center for International Media Assistance.
Modified more than a month ago
Pages involved
Festival Internazionale del Giornalismo
Il Festival Internazionale del Giornalismo di Perugia è un evento annuale che riunisce professionisti dei media, esperti di comunicazione e appassionati di informazione da tutto il mondo. Si svolge nel centro storico di Perugia e offre conferenze, dibattiti, workshop e opportunità di networking sui temi più rilevanti del giornalismo contemporaneo.
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Yoeri Albrecht
Yoeri Albrecht is director of De Balie, a theatre and national centre for the arts and live journalism in Amsterdam. Since 2010, Yoeri has watched De Balie grow from an Amsterdam-oriented debate centre into a permanent international art festival. At De Balie, now an art-producing cultural institute, still home to intellectual dissidents and aspiring artists alike, he continues to find innovative ways to bring untold stories and unheard voices to the fore. The live journalism programs of De Balie are becoming an international success. Yoeri is also a co-founder and board member of the European Press Prize, chair of media company Vereniging Veronica and member of the board of The Dutch Black Achievement Month. He has chaired over the years several boards such as the Open Society Initiative for Europe and Wordt Vervolgd, Amnesty’s Human Rights magazine. He has served on the board of international investigative journalism organization Bellingcat.
Lot Carlier
Lot Carlier is a seasoned professional with 28 years of experience across the media industry, strategic consultancy, and investment management. During her tenure in the publishing sector, Lot held pivotal roles at VNU and Sanoma, managing teams and leading initiatives to navigate the industry's transition from print to multi-channel formats, spearheading reorganizations and restructuring efforts to meet evolving demands. Driven by her passion for media and Africa, Lot co-founded the Africa Media Ventures Fund mobilizing capital and expertise to invest in African media entrepreneurs, aiming to foster both financial returns and knowledge-sharing with young African innovators. In 2020, Lot combined her media expertise with her investment background as the Executive Director at V-Ventures, the investment arm of Vereniging Veronica, engaging with innovative entrepreneurs and providing support through financing, advice, and network connections. Vereniging Veronica/V-Ventures aims to co...
Pierrick Judeaux
Pierrick Judeaux is Director of Portfolio at the International Fund for Public Interest Media. He spent the first years of his career in the Strategy Unit of Europe’s largest broadcasting group, RTL Group, and advising various media and telecommunications companies in Europe, before embracing an international development career. In the past 10 years, Pierrick has been a senior advisor to multiple Heads of State across Africa, Asia and Eastern Europe on economic and democratic development. He has led large-scale international development initiatives such as the USAID-funded Power Africa Senior Advisory Group and was an Associate Director of Policy at the Open Society Foundations.