Local News Revenue Initiative 2021
After the successful launch of the Local News Revenue Initiative last year, the New Mexico Local News Fund is supporting another round of grants to support diverse local newsrooms in the state and help them reach financial sustainability. We are now accepting applications to join the cohort in 2021. In addition to financial support, newsrooms will receive one-one-one coaching, and support from other newsroom leaders across the state through regular cohort meetings. Active participation in both coaching and cohort meetings is required.
The financial support is intended to reduce the current strain on newsrooms during the COVID-19 pandemic and economic recession. Beyond the pandemic, NMLNF sees a strategic opportunity to begin to identify new sources of revenue to encourage a more sustainable ecosystem for local news in New Mexico. (Read more about last year’s cohort here.)
Newsrooms can apply for grants from $500 to $2,500 a month for six months. Funds can be used for any operational needs but newsrooms will be required to:
- Work on a revenue plan with concrete goals for both current and future fundraising with the NMLNF
- Share insights from successful revenue efforts with other newsrooms during regular meetings with newsroom partners across the state
- Participate in monthly one-on-one calls with NMLNF to update progress on goals; bi-weekly email updates on goals; and bi-weekly cohort meetings.
To qualify for support, newsrooms must meet the following criteria:
- Primarily produce journalism for a local audience (not marketing, arts and culture programming, etc)
- Demonstrate financial hardship, which could be due to COVID-19 or other challenges that have led to reduced revenue for your organization like a loss of advertisers or reduced philanthropic support
- Provide a budget for the grant and later a final report on how funds were used
Previous Local Revenue Initiative grantees may not apply. Preference given to news organizations that have not received support from the Local News Fund in the past.
Each newsroom can include up to 3 staff or freelance participants in the program. Preference will be given to organizations that demonstrate diversity of gender, race, culture and sexual orientation.
Funding will be available through November 1, 2021.
Deadline to apply is February 15, 2021 at 6 pm Mountain Time. Program participants will be notified by March, with the program starting in April.