The Entrepreneurial Journalism Playbook

The Entrepreneurial Journalism Playbook is a practical guide for media leaders to develop a more effective and innovative business mindset. By including real-world case studies from four countries, the Playbook demystifies entrepreneurial journalism, outlines the basics of ‘pitching’ new business ideas and other entrepreneurial tactics, and lays out different funding and financing options, including an investment guide, for media projects.

IMS designed the Playbook to help public interest media develop the resources they need to operate and expand. As Dr. Clare Cook, Head of Journalism and Media Viability at IMS, notes, “In the current landscape we know media have more appetite than ever to break out of grant dependency. The Playbook could not come at a better time to underpin what it takes to get new journalism-based business ideas off the ground.”

The Playbook draws on the experience of The Better India, which integrated an entrepreneurial approach into every aspect of its business model and operations – from mission to editorial processes. Drawing from real-world learning, it looks at revenue generation and how to attract investment funding, launching an adjacent business and selling it to reinvest profits and grow. This case study traces the outlet’s journey from a blog to a large platform; a related chapter and podcast produced with its co-founder and CEO offers insights into entrepreneurial best practices.

Global in scope, the Playbook examines how the Al Khatt NGO in Tunisia supports its investigative journalism outlet Inkyfada by combining non-profit and for-profit operations involving ‘white labelling’, tech services, and product development. It explores how Food For Mzansi in South Africa diversifies its income streams through industry events and training programmes. And how Deník Alarm in Czechia is growing from a combination of reader donations, crowdfunding and book publishing.

Like other businesses, public interest media must think entrepreneurially. This is especially true today, as the sector’s funding continues to shrink. “Earning money is about securing the integrity of your newsroom,” says Ludovic Blecher, founder and CEO of IDation and former Head of Ecosystem Funding Strategy and Innovation at Google.

The media outlets featured in this Playbook operate in markets large and small, in economies that are regulated or open, and under political systems that are democratic or autocratic. Thus, their content and business models differ, as do their audience reach and team composition. “What unites them is an unwavering commitment to their journalistic values, audiences, and mission of driving societal change; their determination is enhanced by an entrepreneurial spirit of experimentation and innovation,” says Iryna Vidanava, the Playbook’s editor and Business Viability Advisor at IMS.

This Playbook explores what it means for media to be entrepreneurial in a holistic sense and provides a fresh source of practical insights.

The Entrepreneurial Journalism Playbook is the third in a series of guides by IMS for media publishers, managers and editors that focus on sharing the best practices of business sustainability. The first two editions – on Native Advertising (2022) and Social Media Monetisation (2023) – examine innovations related to digital advertising revenue.