Earlier this year, The New York Times profiled Beacon, a crowdfunding platform for journalists. The writer wondered: With all the hand-wringing in the news industry about asking readers to pay for content, would they ever sponsor a journalist?
Now, just a few months later, that question has been answered. As of this week, Beacon readers have raised $41,074 in partnership with The Huffington Post for a reporter covering the ongoing story of Michael Brown’s shooting in Ferguson, Missouri. The recipient of the funding, Mariah Stewart, has been catapulted from her job as a bra fitter at a nearby mall — she’s since put in her two weeks notice — to the front lines of a national story.
The last few months have been big for Beacon, too. Stewart’s funding represents the first time the company has ever bankrolled an entire reporter’s annual salary. And as of last month, Beacon has paid out more than $500,000 to its network of journalists. Read more