We’ve already discussed how the media is increasingly turning to crowdfunding as a source of financing. The Magazine, an all-digital pub focused on non-fiction reporting and essays (about a variety of geeky topics), is the latest outlet to hop on the crowdfunding bandwagon.
The editors decided to start a Kickstarter campaign to raise money for a print and eBook featuring a selection of writing from their first year. As of this writing, the campaign has earned $31,015 and they have nine days to go to reach their goal of $48,000.
10,000 Words spoke with executive editor Glenn Fleishman (via email) about his reasons for using Kickstarter: ”We had a lot of options at our disposal, including soliciting pre-orders directly over whatever period of time we chose until we reached a set amount,” Fleishman said. “Without a call to action, however, it’s hard to get people to pull the trigger unless you’re very popular and have something timely as well as compelling. We felt that crowdfunding would let us show our cards: We need to raise this much to pay everyone involved and produce a good-looking book.” Read more