Last year, we took a significant step that truly embodies ThePressProject better than any general description could. Our operation is primarily sustained by the backing of our subscribers. This isn’t just a lofty goal for the future; it is our current, concrete financial framework and the bedrock of our autonomy.
While giants like Jeff Bezos can afford to lose 200,000 subscribers over editorial decisions—such as the Washington Post’s refusal to endorse Kamala Harris—the same financial dynamics hold true for smaller, independent media. Media organisations often serve the interests of those who finance them, whether through direct funding or advertising agreements. However, at ThePressProject, this reality is transformed into a source of pride.
Subscribers as the bedrock of independence
The people who fund ThePressProject are its subscribers. This makes us accountable to them alone, ensuring that we consistently deliver journalism aligned with the public interest. As our founder, Kostas Ephimeros, wrote:
“If you do not pay for your information, someone else will. And if you are not a member or part of the bourgeoisie, you probably do not share their interests.”
Over a decade later, this statement resonates even more strongly, as its implications are becoming clearer to a broader audience.
Our transparency report demonstrates that our journalism is sustained by a single pillar: grassroots fundraising, from the readers who trust us with their support. While we may not always align politically with every reader, they can trust that our reporting is guided solely by what we believe to be true. This funding model ensures that we remain ethically grounded. A breach of this trust would mean the end of ThePressProject.
Stable amidst turbulent times
In a polarised media environment and amidst challenges facing independent journalism, ThePressProject remains steadfast in its operations. Our financial status remains stable, as evidenced in this year’s transparency report. Although our income has slightly decreased from last year, mainly due to the lack of special research funding, our financial resilience stands out in today’s media landscape.
Our goals remain ambitious. First, we aim to grow ThePressProject, expanding our output and improving quality. Second, we strive to enhance working conditions for our team. With a horizontal payroll structure, our employees’ remuneration depends directly on our subscription revenue.
Achievements and challenges
In our previous report, we highlighted two major shortcomings that we aimed to address this year.
- Relaunching our English-language page
We are proud to report success in this endeavour.Our English-language page, TPP International, has been providing high-quality translations of Greek news and current affairs for over a year. In numerous instances, these articles have attracted a larger readership than their Greek versions. In the past month, we have also begun offering translations of some of our articles in French, as well as creating informational newsreels and presentations in English on our Instagram page.
- Securing long-term research funding
At this stage, we are in the “fail again, fail better” phase. Although some applications are still pending and a few have been rejected, we have successfully secured small-scale funding for a podcast (€2,000). This funding was approved after September and has not yet been included in the transparency report. Despite the challenges, we are dedicated to this endeavour and believe that we will ultimately achieve our goals.
Financial breakdown: Income and expenses
Income
The graph below shows our income sources, mainly from subscriptions using a bottom-up financing model. Revenue from advertising is restricted to YouTube and Google Ads, ensuring our editorial integrity remains uncompromised by any corporate influence or transactions.
Expenses
Payroll and employer costs make up the majority of our expenses. While many traditional businesses focus on cutting costs, we are committed to increasing this category to enhance the working conditions for our team.
We provide a detailed breakdown of our expenses in the accompanying graph to offer full transparency.
Expense Categories of TPP for the Period January – September 2024
Total expenditure per category.
| Category | Amount | Description |
|---|---|---|
| Salaries & Social Security Contributions | €117,913.64 | Salaries of six full-time and 13 part-time permanent TPP employees, along with corresponding social security contributions. |
| Service Provision | €13,475.89 | Expenses for services from third parties such as journalists, developers, accounting, audio and video production, and social media advertising. |
| Office Expenses | €18,273.28 | Rent, electricity, telephone, and internet costs. |
| Materials | €12,063.09 | Printing costs (magazine) and office supplies. |
| Travel & Accommodation | €4,033.95 | Expenses for shipments, travel, and accommodation. |
| Banking & Public Fees | €13,933.98 | Banking transaction fees and General Commercial Registry subscription. |
| Total | €179,693.83 |
Why your support matters
We share this information to reinforce one simple truth: our independence relies on your trust and support. By subscribing to ThePressProject, you empower us to continue delivering fearless journalism that serves the public interest.
Now that you have a clear understanding of how your money is used, please consider becoming a subscriber with just one click here.
Let’s continue building something better together!
______________________________________________
Are you seeking news from Greece presented from a progressive, non-mainstream perspective? Subscribe monthly or annually to support TPP International in delivering independent reporting in English. Don’t let Greek progressive voices fade.
Make sure to reference “TPP International” and your order number as the reason for payment.