Exciting boost for PressPatron via Google News Initiative
POSTED: 10 April 2019
PressPatron is one of 23 recipients of the first Google News Initiative (GNI) Innovation Challenge in Asia-Pacific, which is aimed at encouraging a more sustainable news ecosystem with a key focus on reader revenue.
Crowdfunding platform PressPatron grew out of founder and CEO Alex Clark's research into whether New Zealanders are willing to pay for quality journalism, which revealed a pool of people willing to contribute a reliable income stream to media organisations via crowdfunding, membership payments and donations.
He says analysis shows subscriptions and restrictions such as paywalls are less successful than supporter contributions, while income from advertising alone does not sustain quality journalism.
Alex wants PressPatron to be part of building a successful, sustainable business model for high quality journalism in the digital age, and is excited about being part of the GNI initiative.
His success came after rigorous assessment of 215 applications from 18 countries to the $30 million fund, and plans are advanced to use the Google program's support in developing additional contributor incentives and expanding his publisher network.
Accolades were also received last year when his company was named New Zealand's hottest media industry tech start-up, winning the judges' and people's choice awards in the tech start-up category of The Hot List 2018 run by NZ Marketing Magazine. The PressPatron contributor button currently features on more than 60 websites.
As early funders and supporters, Tuia Innovation principals congratulate Alex on his achievements and look forward to this next chapter of the PressPatron story.