For-profit or nonprofit? That is the question lately in the journalism industry.
Nonprofit news sites have played a vital role in filling news gaps where legacy newspapers have been sold, closed or consolidated. Big-name publications such as The Salt Lake Tribune and Baltimore Sun are even converting their for-profit models, leading the stampede to non-profit status regardless of the need to do so.
But the pandemic has taken its toll on the nonprofit sector, impacting these mission-driven news operations that rely on strong economic conditions for individual donations and community grants. This reality reinforces why the for-profit news model is still vital to creating a sustainable, long-term business that isn’t reliant on grant funding—or a big payday.