As funding dollars dwindle, newsroom tech companies are heeding the call for consolidation - Poynter

"Those boom times are over. The tech giants have pulled back, and some funders view journalism as a riskier investment in the current political climate. In the wake of this retreat, the field is consolidating, with Indiegraf leading the way. The tech company, best known for its content management system, announced Wednesday its third acquisition in as many months - part of its broader strategy to help newsrooms become more independent."

"The deal, expected to close later this month, brings News Revenue Hub's donation management tool RevEngine under Indiegraf. It follows the company's quick-fire acquisitions of Hearken and Stylebot. Leaders at the organizations say that by consolidating, they can help reduce the funding pressures newsrooms face while giving them the tools they need to strengthen their independence."

""There's only so much philanthropic support available, right? And I think we all agree most of that should go to the newsrooms," said News Revenue Hub founder and CEO Mary Walter-Brown. "I think the (journalism support organizations) have to really validate our value at this moment. And we all should be asking ourselves, what is the return on that investment? And how can we provide stronger service?""

""Try a whole bunch of different experiments and see what works." Those boom times are over. The tech giants have pulled back, and some funders view journalism as a riskier investment in the current political climate. Since October, Indiegraf has made acquisitions a key part of its strategy, assessing 10 different potential deals, said Millar."

Late-2010s funding for journalism support tools came from tech giants and philanthropists, enabling many experiments for newsroom technology. That funding has since pulled back as tech companies reduce investment and some funders view journalism as riskier amid political conditions. The field is consolidating, with Indiegraf pursuing acquisitions to help newsrooms become more independent. Indiegraf’s third acquisition in as many months will bring News Revenue Hub’s donation management tool RevEngine under its umbrella, following acquisitions of Hearken and Stylebot. Leaders say consolidation can reduce funding pressure on newsrooms while providing tools that support independence. Indiegraf has assessed multiple potential deals since October to expand its service offerings.

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