Most Nonprofit Newsrooms Saw Revenue Increases In 2022, Study Finds

Last year saw a 17% increase in the number of digital-first nonprofit news outlets YoY, according to the INN Index Snapshot 2023, a study by the Institute for Nonprofit News (INN).

In addition, fieldwide revenue grew by about 19%, totaling just under $500 million, from 2021 to 2022. 

Of the outlets reporting revenue for the study, 60% saw an improvement in 2022 and 22% remained. In addition, 58% saw increases in their foundation revenue, 48% in individual giving revenue and 50% in earned revenue YOY.

Nearly three dozen public broadcasters have joined the INN Network, although digital newsrooms make up more than 90% of total IMN membership. When these new members are added, overall revenue totals between $600 million and $800 million,

IMN members also saw a 15% increase in workforce size, and nearly 4,000 people are now employed, 2,700 of whom are editorial staffers, including reporters, editors and other types of journalists. 



Of the outlets studied, 37% are focused on explanatory/analysis, 33% on news & events and 30% on investigative work.  

The outlets studied have an average of 30,000 monthly uniques and 5,200 newsletter subscribers. 

Local outlets claim 18,250 monthly uniques and 2,500 newsletter subscribers. 

State and regional outlets average 24,700 monthly uniques and 6,000 newsletter subscribers. And national and global outlets dominate with 75,000 monthly uniques and 13,750 newsletter subscribers.  

The outlets studied are focused on these types of coverage:

  • Local—46%
  • National—20% 
  • State—20% 
  • Regional—8%

By primary mission, they produce this number of stories per month:

  • Investigative Journalism—8
  • Explanatory Content and Analysis—20
  • Current News & Events—49

INN analyzed data collected from 315 nonprofit news outlets in January. The revenue section of the report is based on data from 291 outlets.

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