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Vienna to save on own advertising to fund 6 million euro media initiative
🇦🇹 Austria /Economy & Trade

Vienna to save on own advertising to fund 6 million euro media initiative

From Die Presse · () German

Translated from German, summarized and contextualized by DistantNews.

At a glance

News Sources not specified New plan
  • Vienna will cut its own advertising and public relations spending by 6 million euros to fund a new media initiative.
  • The initiative aims to support local media companies, particularly in their digital transformation, and foster new media startups.
  • Mayor Michael Ludwig stated the funding is crucial for a vibrant media landscape and combating disinformation, despite the city needing to balance its budget.

Vienna is launching a 6 million euro media initiative to bolster its local news sector, a move Mayor Michael Ludwig frames as essential for a healthy democracy and a strong economy. The funding will not come from new city spending but will be offset by cuts to the city's own advertising and public relations budget.

Media belong to a functioning democracy. But local media are under enormous pressure because advertising revenue is increasingly flowing to international platforms and corporations.

— Michael LudwigMayor Michael Ludwig explaining the rationale behind the new media initiative.

Ludwig emphasized that local media are under pressure from international platforms siphoning off advertising revenue, leading to job losses. He described a "vibrant and diverse media landscape" as the most effective tool against disinformation. The initiative targets support for "innovative journalistic projects" that create or secure high-quality jobs, with a particular focus on aiding the digital transformation of existing media companies.

The initiative includes several components. "Medienstart" will offer up to 10,000 euros to new media founders, requiring them to complete qualification programs. An additional 500 euro bonus is available for projects led by women. Existing media companies can apply for up to 150,000 euros through the "Medienprojekt" program for innovative projects, with a 10,000 euro bonus for female leadership. For the first time, the city will also support large, collaborative projects aimed at industry-wide digital transformation, benefiting the entire media sector in Vienna.

Media companies are also important for Vienna as a business location.

— Michael LudwigMayor Michael Ludwig highlighting the economic importance of the media sector.

Vice Mayor Barbara Novak highlighted that the funding is derived from savings within the city's budget, ensuring no additional financial burden. The initiative aims to support concrete media projects, reinforcing Vienna's position as Austria's most significant media hub.

Media startups will be supported. The city is not taking on additional money, but is financing the media initiative through savings.

— Barbara NovakVice Mayor Barbara Novak explaining the funding mechanism of the initiative.
DistantNews Editorial

Originally published by Die Presse in German. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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