Enabling Media Markets to Work for Democracy: An International Fund for Public Interest Media

" ... the case for, and the practical feasibility of establishing, a new International Fund for Public Interest Media (IFPIM). Such a Fund would focus mainly on resource-poor settings across the world where the economic and political challenges confronting independent media have become overwhelming ... "

Developed by BBC Media Action with the support of and in cooperation with Luminate, this document outlines the case for, and the practical feasibility of establishing, an International Fund for Public Interest Media (IFPIM). The purpose of such a fund would be to support the development, sustainability, and independence of public interest media, especially in resource-poor and fragile settings. The study builds on and has sought to reflect the perspectives of hundreds of people from the donor, media support, journalistic, academic, international development, and other communities in multiple geographies who provided their insights over the period of a year. Rooted in the feedback from that process, this document sets out the mission, principles, governance, structure, impact measurement, and other arrangements necessary to establish an IFPIM.

The scope of such a fund would encompass the full range of media institutions supporting an informed and engaged society, including commercial, community, citizen, and public service media. These types of media can be described as public interest media, which is defined here as free and independent media that informs people on the issues that shape their lives in ways that serve the public's rather than any political, commercial, or factional interest. The goal is to enable public debate and dialogue across society and to hold those in power to account. This implies a focus on ethical and credible media working in the interests of all people across a society.

As the document explains, advertising has migrated online, political and other factional actors increasingly invest in their own media, and the (human and financial) costs of carrying out independent journalism are escalating - resulting in the disappearance of the business models available to public interest media. This document argues that corruption, conflict, violent extremism, human-driven disasters like famines and epidemics, and declines in social cohesion are more likely as public interest media atrophies. More strongly, it makes the claim that "the prospects for achieving the Sustainable Development Goals (SDGs) without informed and engaged societies are remote, and that public interest media are vital to realising such societies." In the Foreword to the study, His Excellency John A Kufuor (President of Ghana from 2001-2009) gives concrete examples of why this is so.

As explored in Part 3 of the document, international actors (especially international development agencies) are working to support independent media, but there are financial and organisational limitations to this support. Also in this portion of the document, BBC Media Action and Luminate make the case for establishing an IFPIM and propose a vision for its mission, governance, resourcing, scope, and scale. In essence, BBC Media Action and Luminate hold that the business model for public interest media is broken, the democratic and developmental consequences are immense, and rebuilding a new economic paradigm for public interest media requires a clear, coherent, well-resourced, and structured response. Such a response is both feasible and necessary, according to the analysis presented here. More precisely, the claim is that an annual budget of US$100 million (equivalent to around 0.07% of total international official development assistance, or ODA) would make establishing an IFPIM worthwhile. It is expected that the capital to finance the fund would come from 3 types of donors: government aid agencies, big tech, and philanthropy.

Such a fund would be designed to:

• expand the resources available to support independent public interest media, especially in resource-poor settings;
• lower the transaction costs of development agencies and other donors in doing so;
• increase the legitimacy of financing and funding of independent media;
• improve the coherence, coordination, and strategic consistency of such support; and
• improve the impact, impact assessment, and learning of what works and does not work in this highly complex arena.

Part 4 makes recommendations for the structure, priorities, and operational model for an IFPIM, and describes the fund's 4 proposed pillars:

• Pillar 1 would be focused on national- and local-level media support from a series of regional centres.
• Pillar 2 would be an investigative journalism fund and could potentially support other media support funds.
• Pillar 3 would take the form of international and regional support focused where legal or other restrictions make national support strategies impracticable.
• Pillar 4 would be a research and learning mechanism (a 'What Works Unit').

In line with Pillar 4's focus, Part 5 examines how the proposed IFPIM would be evaluated and the content of its learning strategy. Part 6 of the document then provides several exit strategy options, as the IFPIM is not envisaged as an open-ended proposition. Part 7 outlines a series of potential alternative approaches to scaling up funding if an IFPIM is not established but concludes that establishing such a fund would provide the most cost-effective and impactful way of meaningfully increasing support to independent public interest media. Part 8 provides a risk matrix around establishing an IFPIM and lists the measures necessary to mitigate those risks (e.g., designing its governance structure and multi-stakeholder processes to avoid becoming a political target). Part 9 sets out the suggested next steps for building financial and political support to develop the IFPIM. Plans include, among others:

• An interim executive director will be hired, along with a team of 1-2 people to fundraise, design, and iron out outstanding questions not covered by this feasibility study.
• A series of e-events will be held to build support for the fund and articulate demand for it from those countries it is designed to benefit.
• A series of ambassadors will be appointed, especially from the Global South, to advance this prospectus. Former President Kufuor of Ghana has already agreed to play this role and to invite other former African heads of state to do so.
• An advisory group of key experts and stakeholders will develop further in order to help inform the development of the proposition.
• Further stakeholder consultation is planned, especially in the Global South but also in donor countries. These include journalist unions, who will be vital in encouraging their development agencies to prioritise support in resource-poor countries.

Once the IFPIM is established, BBC Media Action and Luminate believe that it will provide a key pillar for an international strategy necessary to rebuild independent public interest media around the world.

Click here to access a 9-page summary of the document.

Click here for the full feasibility study: Enabling Media Markets to Work for Democracy: An International Fund for Public Interest Media

Click here to read more about the IFPIM on the Luminate website.