INDUSTRY

Define economic factors:

Everything to do with the money side of things, including income and outgoings, such as salaries, rent, taxes and investing back into the business.

Define monetise:

To make money from

Define affiliate links:

A unique URL that links straight to the product being advertised, earning commission for the affiliate and recording the traffic (your data) from there to the product being advertised.

Define circulation figure:

The average number of monthly magazines sold over a six-month period, for example January–June, as compiled by the Audit Bureau of Circulation (ABC).

How is THIIIRD different from mainstream magazines in terms of revenue?

• does not primarily sell audience demographics to advertisers

• avoids heavy commercialisation

• does not make profit the central goal

How does THIIIRD generate income funds?

• high quality print edition sold internationally - key source of revenue typical of indie magazines with niche audiences

• ticketed events

• talks and exhibitions

• podcast partnerships

• creative programming

• sponsored campaigns or commissioned content

• partnerships with cultural or commercial organisations

• brand collabs aligned w its values

• professional services (creative direction, styling, consultancy)

• commissions

What kinds of organisations does THIIRD offer its services to and what do they hope to achieve?

Those that want to build cultural influence + connect w diverse audiences

Aim to shape culture, communicate progressive values + engage underrepresented communities in meaningful ways

What types of production services does THIIIRD provide for clients?

• creative direction

• casting

• art direction + graphic design

• consultancy + strategy development

• advertorial production + placement

• audio commissions

• editorial design + placement

• copy creation

• events + curation

How does THIIIRD describe its approach to working with brands and communities?

Emphasises intersectional, anti-racist and inclusive approach.

How does THIIIRD Waves podcasts help them remain economically viable?

More visibility leads to:

• increased magazine sales

• more website traffic

• higher attendance at events

• more partnerships + commissions

episodes can promote:

• live events or exhibitions

• print issues

• merchandise or shop items

• paid programmes or workshops

• conversion of listeners into paying customers

strong audience base supports:

• membership models

• crowdfunding

• ticketed live recordings

• exclusive content

How has THIIIRD been funded?

• through personal investment

• charitable grants

• partnerships + reinvested incomes

Define cultural enterprise:

An organisation that produces cultural, artistic or socially meaningful content while operating using business practices to remain financially sustainable.

Prioritises cultural value + social impact not just profit

What types of grants has THIIIRD received and where from?

• cultural or local business grants

• support from organisations

• over development funding

local business grant from The Prince’s Trust

What does The Prince’s Trust do, who does it support and why would THIIIRD qualify?

May support as it:

• amplifies underrepresented voices

• promotes diversity, inclusion + social change

• provides opportunities for emerging creatives

• produces culturally significant work

• reaches communities underserved by mainstream media

THIIIRD aligns with goals from TPT such as:

• encouraging entrepreneurship

• supporting young creatives

• promoting equality + opportunity

Why does independent media often rely on grants?

• value is cultural + social not purely financial

• serve underserved audiences

• profit margins may be lower than mainstream titles

• more freedom + diversity

Economic differences between mainstream + independent platforms?

MAINSTREAM:

• large scale corporate revenue via adverts, subs, e-commerce

• reliance on digital ads, sponsored content, branded partnerships

• owned by global media conglomerate

• profit driven, targets affluent consumers for luxury brands

• direct monetisation through ads, paywalls, affiliate links, shopping features

• paywalls + digital subs common

• revenue stream via shoppable content + commissions

• large scale commercial partnerships + sponsored campaigns

• content purpose to attract audience

• mass affluent audiences valuable to advertisers

• lower financial risk

INDIE:

• grants, partnerships, services, print sales, events, crowdfunding, personal investment as funding

• little to no direct advertising

• independent, founder led

• mission driven, prioritises representation + community

• indirect monetisation

• free access

• minimal or secondary e-commerce

• consultancy partnerships

• events + cultural activities important income source

• niche underserved communities targeted

• high financial risk, small revenue base

HESMONDHALGH risk minimising

DIVERSIFIED INCOME STREAMS:

• services + consultancy work

• events + partnerships

• print sales

• grants + commissions

targeted niche audience

Hesmondhalgh notes smaller producers often rely on flexible strategies rather than scale

HESMONDHALGH vertical integration:

• produces content (articles, photostories, podcasts)

• publishes it on its own website

• sells its own print issues

• runs its own events

only PARTIAL VI as it does not own large distribution networks and relies on external infrastructure like social media

HESMONDHALGH horizontal integration:

• online magazine

• print issues

• podcast

• events

• creative services + consultancy

reduces financial risk by diversifying revenue

HESMONDHALGH formatting

• emerging creatives

• activists

• artists from marginalised communities

• recognisable formats such as interviews, photostories, opinion pieces, cultural commentary, podcasts

• recurring features that help build audience loyalty - ongoing story series, podcast episodes, regular themed photostories, periodic print issues

HESMONDHALGH reducing risk

THIIIRD will only take risks in new areas if this is seen as creatively + ideologically beneficial. While they are not a conglomerate it adopts the risk aversion through diversification strategy by expanding across publishing, podcasting, events + consultancy.

Their expansion is driven by cultural mission + survival rather than market domination.

Industry context, radical potential of the internet contained?

• demonstrates how digital publishing enables marginalised voices to reach audiences without traditional gatekeepers

• visibility and financial sustainability depend on infrastructures controlled by large corporations such as search engines + social media platforms

• mainstream brands benefit from vast resources and algorithmic prominence → suggests diversification of cultural production but structural inequalities remain

What are the two main UK press regulators and is THIIIRD regulated?

• IPSO → mainstream

• IMPRESS → independent publishers

• not regulated → typical of indie online media

Why do you think independent publishers like THIIIRD may not choose to join voluntary press regulators?

• Limited creative or political expression

• formal complaints procedures would be introduced

• closer to mainstream press structures

• membership fees would be required

• compliance with codes of practice

• time to handle complaints and procedures (may be short staffed)

Which laws must THIIIRD abide to?

• defamation law

• copyright law

• data protection

• equality legislation

• hate speech + incitement law

LIVINGSTONE & LUNT citizens + consumer interests

Citizens’ interest:

• amplify underrepresented voices

• challenge harmful stereotypes

• promote social awareness + inclusion

• provide space for marginalised perspectives

• protection from harm by actively countering harmful discourses around race, gender, identity

Consumer interest:

• free online access

• podcasts

• events + cultural experiences

• diverse content choices

• users choose to engage, no obligation

• market competition

LIVINGSTONE & LUNT difficult regulation

• global corporations operate across borders → national regulators struggle to enforce law overseas

• convergent tech blur media boundaries

• constant cross media flow allows content to spread rapidly + globally, making harmful material hard to trace, control or remove

• platform based distribution shifts power to tech companies, raising qs about whether platforms or creators are responsible for regulation

Define convergence:

Different media forms merging.

Why is traditional regulation at risk?

• national but media is global

• targets institutions not platforms

• separates media forms that are now converged

• assumes stable distribution channels