Boston journalism nonprofit hopes Medium will be a moneymaker
The Boston Institute for Nonprofit Journalism began selling subscriptions on Medium last month, and thus far, it’s paying off, according to founder Chris Faraone.
The nonprofit known as BINJ (pronounced “binge”) asks readers to pay a minimum of $3 a month to become a member and gain access to exclusive content and other perks. In the first three weeks, BINJ picked up 30 subscribers and $200 per month in revenue, he said.
Faraone compares the monthly membership fee to NPR’s sustaining membership program, in which donors pledge to make monthly payments throughout the year.
“We want it to be affordable,” said Faraone.
BINJ was among the first publishers to charge readers for content through Medium’s beta program, and it’s the first local news organization to do so, according to the Nieman Journalism Lab.