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GlobalPost - Independent International News Coverage

GlobalPost is a for-profit international news organization providing stories not covered by traditional media. With a track record of success, three independent revenue streams (advertising, syndication, and subscriptions), and a focus on high-value content, GlobalPost offers an American sensibility for what we care about.

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GlobalPost - Independent International News Coverage

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  1. Charles M. Sennott, Executive Editor and Vice President • Prior experience:  • 25 years of journalism, including NPR, Bergen Record, NY Daily News, author of several books • Boston Globe Middle East bureau chief (1997-2001), European bureau chief (2001-2005) • Nieman Fellowship (2005-2006) • Returned to Boston Globe 2006 • Began planning GlobalPost with Philip Balboni in 2007.

  2. The opportunity: • A network of foreign correspondents, inspired by the independent photojournalist network model • "To provide the stories that are not being covered by the traditional media." • "An international news organization with an American sensibility, American standards of journalism, and an American ear for what we care about." The risks: • The early model was non-profit.  Risk: inability to sustain donor funding.  Solution: move to for-profit model. • Model became for-profit.  Risk: insufficient revenue.  Solution: develop 3 independent revenue streams (advertising, subscription, syndication).

  3. Factors leading to success: • Track record of business partner Philip Balboni • Prior success with Continental Cablevision (Comcast) • Access to investors • Investors with long-term views • Vested interest granted to correspondents who receive 10,000 shares • Correspondents live in the countries they cover • Three independent revenue streams • Advertising • Syndication • Subscriptions

  4. Sennott's self description: • A veteran journalist • A passion for international coverage • A "great, but untested entrepreneurial streak" • A believer in journalism: "Journalism has value, and great journalism has great value."

  5. "Aha" takeways from this interview: • A non-profit model runs the significant risk of experiencing "donor fatigue" — the inability to garner sustained support from donors beyond a startup period. • Multiple, independent revenue streams can build stability in a business model; among these, a subscription stream is possible when the venture can offer unique, high-value content to targeted subgroups of the audience. • GlobalPost is able to operate among many larger, long-established players by clearly identifying and exploiting a narrowly-defined journalistic niche.

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