A model built on recurring reader donations is closing in on $100M—and rewriting where digital news revenue can come from
Nearly a decade after it began asking readers to pay for journalism it still gives away for free, the Guardian's bet has produced its best U.S. result yet: $81.4 million in revenue in the fiscal year ended March 31, the highest since launching stateside 15 years ago. The engine was not a paywall, a subscription wall or advertising, but voluntary recurring donations—70.7% of U.S. revenue, with ads making up about a quarter, per an internal presentation obtained by Axios.