“Globally, the success of such initiatives as De Correspondent in the Netherlands, Krautreporter in Germany, and El Español in Spain, who redefined their business models in 2013, has demonstrated the potential of crowdfunding. However, Czykier argues that this is not a stable source of income. Of course, a launch of a project might be financed by a crowdfunding campaign, but in the long term, to maintain the financial stability, the business model needs to be changed. ‘It’s hard to convince a new audience to support an already existing project,’ he says.
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