New Internationalist invites readers to become co-owners in £500k campaign
Having pioneered a more ethical way of reporting for more than four decades, New Internationalist has now created a new way to finance and run not-for-profit media: one with readers and journalists at its core.
The publication invites supporters to ‘Buy Into a Better Story’ by buying ‘community shares’ during a 35-day crowdfunding campaign.
With the minimum investment level set at only £50, this opportunity to own the media is open to everyone. These shares are different from ordinary shares – they can’t be transferred or sold on. Investors have one vote, no matter how much they invest and, as co-owners, become stewards of New Internationalist’s mission into the future.
The campaign runs on Crowdfunder.co.uk, the UK’s largest crowdfunding platform, and leverages the support of the publication’s passionate and loyal readership.
The organizers hope the share offer will create a secure and democratic structure for the organization, bucking the global trend of media concentration in the hands of fewer owners.
New Internationalist co-editor Hazel Healy said, ‘We have always written about other people coming together to change things – now it’s our turn. It felt like we needed to do something big. Fear and mistrust are rising all over the world, and misinformation along with them. Meanwhile, the media’s broken business model is making it harder than ever for independents like us to survive.
‘We want to scale up and get our stories out to more than ever people before. Our slogan #FactsAndHeart says it all. This is journalism that has the power to bring people together. We think that is something worth buying into.’
Graeme Roy, Community Shares Officer at Crowdfunder said, ‘We are delighted to be working with New Internationalist in what is potentially the largest media community share offer globally. Community shares are a great way for the public to own and run the businesses that are important to them – I am sure the crowd will support New Internationalist and the independent media they stand for.’
Trevor Gower, one of the first co-owners, said, ‘I am so glad to have the chance to do something really positive to support New Internationalist, which brings us vital news from around the world.
‘Reading the magazine used to be a very important activity. Now, in 2017, it is essential.’
To find more information, visit factsandheart.org.