Released in the Fall of 2014, Daum News Funding presents media consumers an alternative way of seeking out and supporting the stories they want to read. News Funding is based on a crowdfunding model of content creation where readers can act as sponsors by contributing funds to projects and stories they believe in.
The first Korean-born crowdfunding service, News Funding has seen a very positive reception nationwide and this week hit $700,000 in total funding. More than 5,000 people have contributed funds for 47 projects spanning topics like Business & Economics, Culture, Sports, Entertainment and more.
Since launching with 15 creators, more than 180 content creators (reporters, writers, college students) are now engaging with their sponsors on projects in order to produce high quality content.
Many News Funding-generated projects have led to close collaboration and popular success. Project #26 “Firefighter, the Naked Hero” was commissioned by a reader and created with the help of an active duty firefighter, while Project #4 “What Moms Need to Know about High School Entrance Exams” has led to offline seminars for funding participants. News Funding has created a unique and “online to offline” method for sponsors and creators to forge a deeper connection.
“Let’s Go Back Home, Sisters”, News Funding’s 33rd project was one of the fastest-funded projects yet. Having raised 20,000,000 KRW (about 18,500 USD), the project resulted in the forthcoming major motion picture “Going Back Home.” All contributing sponsors received an advance invite to the film’s premier.
See more of News Funding and its projects at : http://m.newsfund.media.daum.net/ (Korean Only).
The first Korean-born crowdfunding service, News Funding has seen a very positive reception nationwide and this week hit $700,000 in total funding. More than 5,000 people have contributed funds for 47 projects spanning topics like Business & Economics, Culture, Sports, Entertainment and more.
Since launching with 15 creators, more than 180 content creators (reporters, writers, college students) are now engaging with their sponsors on projects in order to produce high quality content.
Many News Funding-generated projects have led to close collaboration and popular success. Project #26 “Firefighter, the Naked Hero” was commissioned by a reader and created with the help of an active duty firefighter, while Project #4 “What Moms Need to Know about High School Entrance Exams” has led to offline seminars for funding participants. News Funding has created a unique and “online to offline” method for sponsors and creators to forge a deeper connection.
“Let’s Go Back Home, Sisters”, News Funding’s 33rd project was one of the fastest-funded projects yet. Having raised 20,000,000 KRW (about 18,500 USD), the project resulted in the forthcoming major motion picture “Going Back Home.” All contributing sponsors received an advance invite to the film’s premier.
See more of News Funding and its projects at : http://m.newsfund.media.daum.net/ (Korean Only).