In this series of case studies on how media organisations in the Western Balkans tackle financial challenges, GFMD talked to Fokus, an independent news portal that is now one of Bosnia and Herzegovina’s most influential media.
| 18. September 2024
In a time of shifting media landscapes, Fokus, one of Bosnia and Herzegovina’s most influential independent news portals, is navigating financial sustainability by diversifying its revenue streams. In this conversation with Dinko Dundić, Chief-editor of Fokus, he highlights the strategies the organisation’s employing to secure financial stability, and the hurdles they’ve overcome along the way.
In an effort to reduce reliance on a single source of funding, Fokus has made it a priority to develop multiple streams of revenue.
“We strive to diversify media funding in order to depend as little as possible on just one source of funding.”
Currently, in addition to project activities, Fokus generates revenue from Google advertising and direct marketing. With the goal of becoming self-sustaining, Fokus is focused on building its own financial model to secure long-term viability. However, this road has brought with it several challenges experienced by the organisation, including the loss of income from Facebook Articles and the impact of the COVID-19 pandemic.
“In the last few years we have faced several challenges. One of the last two big challenges for us was when Facebook decided to stop advertising through Facebook Articles, through which we provided most of the income. The second was the crisis caused by the corona virus, when in a few days we lost most of the clients who advertised on our medium. Those two crises that could not be predicted best show how insecure the long-term financing of independent media is.”
One of the most difficult areas for Fokus to generate income is through direct, traditional marketing. As an independent media outlet committed to reporting on corruption, Fokus often writes about public figures and institutions entangled in corruption scandals. This creates a unique barrier to establishing and maintaining long-term advertising relationships, especially those connected to political entities.
“As an independent media, we write about all deviations in society, and mostly about the biggest scourge of Bosnia and Herzegovina and society, which is corruption. Since the political actors and public institutions whose corrupt actions we write about are very often directly or indirectly connected to the entities that need to be advertised, it is difficult to establish initial cooperation, and even more difficult to establish long-term cooperation.”
However, Dundić remains optimistic about the future, stressing the need for continuous innovation and adaptation in the media industry.
“Only agile media that are ready for constant innovation and learning will remain on the media scene in the long term.”
The pandemic underscored the need for media outlets like Fokus to constantly adapt to new circumstances and seek out diverse sources of income.
In response to the growing importance of project-based funding, Fokus has made significant adjustments to its internal operations. The organisation hired staff to handle the reporting and compliance requirements that come with donor funding, ensuring transparency and adherence to ethical standards.
“We hired people who work directly on the reports. However, everyone in our organisation, in their domain, participates when it comes to reporting. Through cooperation on projects, we brought a series of documents that introduced new standards, rules and principles.”
These internal changes have improved the overall working environment, with Fokus now better positioned to meet the demands of donors while maintaining its commitment to journalistic integrity.
When it comes to applying for funding, Fokus has found success in collaborating with other media organisations and NGOs both within Bosnia and Herzegovina and across the region. However, these partnerships are not without their challenges.
“Cooperation with other media, especially if there is a language barrier, can bring certain challenges in the organisation of work, especially reporting.”
Despite these obstacles, the media sees collaboration as a valuable opportunity for mutual learning and growth, which can ultimately enhance the media’s operational resilience.
“Cooperation with other media brings new acquaintances and knowledge, which can be useful in the years ahead”
The key to long-term survival and financial sustainability, according to Dundić, is the ability to continuously transform in response to both internal and external challenges.
“Flexibility and adaptation to new models will be of key importance in the future,” he adds, marking these qualities as central to the ongoing success of Fokus in an unpredictable environment.
Looking ahead, Fokus remains committed to further diversifying its revenue streams. The organisation has already incorporated project-based funding into its strategic plan and is exploring new ways to generate income, including increased direct marketing activities and traffic monetisation through platforms like Google, Facebook and other social networks.
“With the support of donors through project activities, we will continue with additional income diversification, which is also stated in our strategic plan. With traffic monetisation made possible by Google, but increasingly by Facebook and other social networks, we will work to strengthen and increase direct marketing activities.”
Dundić commends the improvements in communication between donors and independent media in recent years.
“In recent years, it is noticeable that communication between donors, at least when we are talking about Bosnia and Herzegovina, has improved a lot”
He encourages international donors and organisations to continue this trend, advocating for an individualised approach that takes into account the specificities of each country and media outlet. With continued donor support and a commitment to financial diversification, Fokus is determined to keep fighting for transparency and accountability in Bosnia and Herzegovina.
Learn more about the Mapping of media assistance and journalism support programmes in the Western Balkans region.
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