German journalists launch crowd-funded magazine

AP News
Posted: Jun 13, 2014 9:22 AM

BERLIN (AP) — A group of German journalists tired of clickbait stories, poor freelance pay and shallow Internet news have succeeded in raising enough money online to launch a new magazine.

The crowd-funded project, called Krautreporter, hit its target of 900,000 euros ($1.2 million) after one month, shortly before the deadline Friday.

The money will fund the work of 28 experienced journalists for one year.

Supporters, who each pledged 60 euros, will receive at least four in-depth, ad-free articles a day and invitations to special events.

Like in the United States, Germany's media industry has come under heavy economy pressure from falling revenues and the rise of free online publications in recent years, leading to the closure of several news outlets.