The republic receives new money - the year 2020 is secured

According to the NZZ am Sonntag, the online magazine has raised the funds to be able to cope with the coming year without drastic cost-cutting measures.

republik

At the beginning of 2019, the RepublicBy the middle of the year, they are looking for a sponsor who will inject one million francs. How the NZZ on Sunday reports, this seems to have succeeded. Sylvie Reinhard, Chairman of the Board of Directors, tells the newspaper that the second round of financing is "close to completion" and that the first contracts have been signed. Information will be provided at the general meeting in December.

 

Expansion after initial hype

The online magazine was launched in 2018 with capital of 7.3 million Swiss francs. Half came from investors, the other half from the numerous subscribers who pay 240 francs a year for the purely digital newspaper. Since more money than expected was raised in this way, the Republic continues to hire journalists. 50 people shared 36 full-time positions at the beginning of 2019. Cost per month: According to NZZ on Sunday 540,000 francs. As there were several departures in the management team, rumors soon started to circulate that the future of the much-acclaimed media project was in a bad way.

 

Many subscribers - but still not enough

As it looks at the moment, the Republic But the magazine is not running out of steam for the time being. In addition to the new investor money, the magazine has also reduced costs (new: 44 people and 32 full-time positions) and, after an interim lull, has again gained many new subscribers. There are currently 19,000. A considerable number, but still too few to get into the black. According to Chairman Reinhard, 24,000 subscriptions are needed to break even.

 

With the prototype came after two years the disillusionment

The NZZ on Sunday doubts that the Republic will clear this hurdle. At the end of the year, many readers would be faced with the decision of whether to renew their subscription. How many will do so is anyone's guess. At the Dutch Republic model Correspondent, many readers jumped ship after two years, even though they had renewed their subscription after one year. The reason: after two years, the will to support the paper in a non-material way crumbled - at some point, the only thing that counts is satisfaction with the journalistic product.

It is quite possible that the subscribers of the Republic will continue to stick with it. The magazine has evolved and become more reader-oriented. It has become clearer and more accessible, offering more current affairs while continuing to focus on background information. The almost stifling, long texts of the early days have become shorter and more reader-friendly. The NZZ on Sunday however, finds primeurs are still thin on the ground. Research with news value is something many readers expect from the independent, purely journalistic online magazine.

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