In a big win for independent media, the New Internationalist surpassed its emergency fundraising target of £150,000, saving the magazine from closure.
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“We didn’t dare to hope we could exceed £150,000,” the magazine said in a statement shared via Instagram. “Our target was based on survival.”
The team has announced a one-week extension with a stretch target of £15,000.
New Internationalist defies the odds
They also said that they want to do things “differently”:
We have also received emails from some of you with important ideas of how we at NI can do things differently. If we raise just that little bit more it will be easier to implement some of those ideas into our strategy.
The independent, cooperatively owned magazine celebrated its 50th anniversary in 2023. But rising costs and declining reader income had pushed it to the brink, threatening closure.
Operating costs had soared while subscribers, feeling the squeeze of the cost-of-living crisis, had cancelled or failed to renew, the magazine had said previously.
Algorithm changes coupled with the rise of AI had hammered website traffic, cutting off a vital source of reader revenue, the magazine added.
Growing attacks on independent media
Attacks on independent media, both overt and subtle, are becoming increasingly alarming. The obvious one is the Canary’s debanking.
For instance, the Starmer government is planning to require YouTube and other online platforms to prioritise state-approved media content and make it more difficult for users to discover independent sources.
Critics argue this represents an escalation in the government’s effort to control information it deems unfavourable.
Billionaire-owned media serves as a vehicle for right-wing ideology; Elon Musk’s growing political involvement shows how concentrated private power in the tech sector is fuelling fascism.
The New Internationalist raising £150k in this environment is commendable.
Featured image via the New Internationalist
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