May 12, 2010

Mining money from niches

By pursuing donations from business leaders and working a little social-media magic, the Jewish Journal of Greater Los Angeles appears to have found a way to weather the hard economic times, according to James Rainey at the Los Angeles Times.

From the story:
The Journal, its related website and a nascent monthly magazine recently nailed down a critical $800,000 donation that should rejuvenate the organization and guarantee its viability for the foreseeable future.

The money came from four philanthropists — Westfield mall Chief Executive Peter Lowy, Internet executive and venture capitalist Art Bilger, cooking oil maker and long-time Journal board member Irwin Field and a fourth, anonymous, donor.


While Jewish news outlets in Las Vegas and other communities had been folding, the Jewish Journal made enough improvements, despite the brutal economic downturn, that it showed promise. Its expanded Web offerings, including a social networking/dating site, The online audience has grown to 350,000 unique visitors a month.

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