American Journalism Project Invests $3.15 Million In Three Local, Nonprofit News Organizations
The American Journalism Project today announced $3.15 million in new support for three nonprofit news organizations: Verite, a sister newsroom of Mississippi Today launching this fall in New Orleans, ICT (formerly Indian Country Today) and New York City-based THE CITY.
Since 2019, the American Journalism Project has committed nearly $37 million to 33 local nonprofit news organizations. The first venture philanthropy dedicated to local news, the American Journalism Project’s unique model focuses on helping nonprofit news organizations grow their business teams and revenue capacity, while also giving its grantees personalized and strategic support.
“The market failure in local news has left Americans in crisis — people across our country are strapped for the information they need to participate in our democracy and live healthy, thriving lives,” said Sarabeth Berman, CEO of the American Journalism Project. “Anyone searching for solutions to the crisis in local news should take a close look at what these organizations are doing to build trusted and sustainable news for communities.”
Data from the American Journalism Project’s 2022 Impact Report shows its grantees grow by an average of 67 percent in the first year of their grant. The American Journalism Project attributes this success to its unique venture support model, which provides each grantee organization with tailored support, including funding, one-on-one guidance, capacity building resources, peer learning opportunities and other tools to strengthen their business and revenue operations.
Google Updates Political Content Policy, Adds YouTube Audio Ads
Google in August will change the requirements for political content policy ads for visual and audio, the company announced Monday.The updated policy aims to clarify the disclosure requirements for election advertising using ad formats and features available across Google when the advertiser is responsible for including a “Paid for by” disclosure directly in the ad.
Serving a political ad comes with restrictions. Election-related ads will require the disclosure for visual formats to be visible at all times. The ads must serve up in a “sufficient size,” so all viewers can see it.
Google has different requirements for political and election advertising based on region. Election ads in some regions may run only if the advertiser is verified by Google.Election ads in these areas are subject to disclosure requirements and targeting restrictions. Google Ad Grants accounts are not eligible to run election ads or apply for election ads verification in these regions.
If the ads contain political content not restricted by the local legal requirements for a given region, the ads may run as long as they are compliant with all other Google Ads policies and local laws and regulations.Non-compliance with Google’s political content policies may result in information about the account and political ads being disclosed publicly or to relevant government agencies and regulators, according to Google.
Ad Economy Recedes For First Time In 16 Months
The U.S. ad market contracted a modest 0.3% in June, marking the first decline since February 2021, according to a MediaPost analysis of data from Standard Media Index’s U.S. Ad Market Tracker.
The contraction follows a steady deceleration of the U.S. ad market’s expansion coming out of the COVID-19-related advertising recession. Relative to June 2020, which fell 23.1%, June 2022’s ad market index actually expanded 36.6%.
Most of the June 2022 contraction was due to reductions by the nation’s largest advertising categories. Spending by the top 10 categories fell 5.2% in June, while all other categories actually expanded 1.2%. Most of June’s erosion occurred among traditional media spending.
Among media, the erosion was mostly among traditional media, which contracted 16.6% from June 2021, while digital expanded 8.6%. Digital’s share of all media spending rose to six points to 62% in June.
Sunshine Communications Announces New Acquisitions
Newly formed Sunshine Communications, a division of the Sunshine Initiative Public Benefit Corporation, owned and operated by Jay Lucas announced the acquisition of the Eagle Times from Sample News Group, effective immediately.
“I am very excited to return ownership of the Eagle Times back to New Hampshire,” said Lucas. “As someone who grew up getting our news from the Eagle as well as remembering how excited it was when my photo from my football days or my name being listed in the paper from the honor roll, it is important we keep the spirit of this publication local, relevant, and worthwhile for the communities it serves.”
In addition to the acquisition of the Eagle Times, Sunshine Communications has also taken ownership of the Newport-Argus Champion and the Newport Times.“Prior to this new venture, my wife Karen and I along with Archie Mountain, Roy Malool, Hunter Rieseberg and other leaders in the Newport area brought back the Newport Times in both online and in print formats,” said Lucas. “Combining efforts and bringing it all together will create amazing content and opportunities for members of the community to share their passions with readers across western New Hampshire and beyond.”