Oxford-based current affairs magazine The New Internationalist has helped secure its future after raising £550,000 in just over a month through a crowdfunding campaign.
It now hopes to reach £600,000 by 6 April when the appeal closes (the original target was £500,000).
UPDATE 11/4/2017: The appeal has now closed having raised £704,114.
The money is needed to help the title relaunch and reinvent itself as it contends with dwindling print sales.
Circulation currently stands at 25,000, compared with a high point of 75,000 at the turn of the millennium.
The money will be used to relaunch the print edition, invest in online video and rejuvenate the title’s book publishing arm and its shop.
The title focuses on global poverty and development issues, is currently owned co-operatively by its staff. Under the crowdfunding plan, the new investors will also have a stake.
More than 2,700 supporters have made contributions ranging from £50 to £10,000.
Co-editor Hazel Healy said: “This success demonstrates that thousands of people do care about the lives of others, thousands of miles away – and are fiercely committed to independent journalism that helps us to understand the world – and change it.”
Reasons given by investors include the following:
- “Because accurate, values-led journalism has never been so important.
- “NI goes where the mainstream media fear to tread.
- “New Internationalist is one of the best publications on the planet.”