Philanthropic support for news media organizations recorded a significant increase in 2020 when it increased to US$ 458m from US$ 226m in the year before, according to data from Candid, an NGO that tracks philanthropic funding, cited in a recent report released by UNESCO.
Philanthropy and other forms of non-profit media assistance are important sources of financing for media in countries with dysfunctional markets and harsh political regimes. The total philanthropic support for media had been stagnant between 2016 and 2019.
Most of the philanthropic funders are based in the United States. They tend to target mostly media outfits in America. Only 9% of all philanthropic donations were given to media outlets outside the US.
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