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.

‘기부형 멤버십’으로 1억 달러 넘본다… 가디언 미국, 매출 8,140만 달러 최고 기록
뉴스 미디어의 미래 모델. 영국 일간지 가디언(The Gadian)의 미국 사업이 1,120억 원)의 매출 올려. 2010년 미국 진출 이후 15년 만의 최고치다. 성장을 끌어올린 동력은 구독료도 광고도 아닌 독자 후원
K-EnterTech HubJung Han

The model works because of how the U.S. demand environment and the Guardian's structure line up. Political-news appetite has surged; a nonprofit with no paywall meets it by converting trust into voluntary support rather than gating access. With no billionaire owner—the company is held by the Scott Trust, charged with sustaining the Guardian in perpetuity—the pitch to readers is that the journalism is not for sale. CEO Anna Bateson said that mix of nonprofit structure, global perspective and free access drew an unprecedented level of U.S. donations.