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As you probably already know, The Correspondent succeeded with their crowdfunding campaign to launch an international site. They set out to raise $2.5 million in 30 days, and by the end of the campaign, they had raised $2,672,070.
I'm extremely happy about this outcome, and I will get back to why in just a second, but it was also a very close call. If you just look at the data, they should not have made it. But they were saved by outside influence, and after that, everything changed in their favor, as you can clearly see in the graph below.
This is such an exciting story, because there are so many things that we can learn from this.
I am going to do four things in this 49-page article (20 of which are graphs):
So, all very exciting stuff.
Before we get into the numbers, let me explain a little bit about why I have been so excited about this campaign. It all has to do with the trends, and the challenges we face getting publishers to see those trends.
One of the reasons I followed The Correspondent's campaign as closely as I did was because we needed a win.
There have been so many negative stories throughout 2018, and generally speaking, I would define the media industry as a whole as being depressed.
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Founder, media analyst, author, and publisher. Follow on Twitter
"Thomas Baekdal is one of Scandinavia's most sought-after experts in the digitization of media companies. He has made himself known for his analysis of how digitization has changed the way we consume media."
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