LION member revenue is up as more people directly support local news

As LION Publishers continues to grow, we are tracking reported changes for our members year over year and using this macro view to better understand emerging trends in the local news ecosystem. 

With over 550 members in 49 U.S. states and eight Canadian provinces, LION’s membership includes a range of digital business models from solopreneur-run startups to statewide giants. It’s always exciting to see how our members have progressed throughout the year, and sometimes, those changes show us that progress can take shape in unexpected ways.

Earlier this year, the Pew Research Center reported on new survey data that showed more American adults are getting their news from digital sources and see value in local news, but only a “small share” are willing to pay for it. We’re happy to say we’re seeing some progress on that front. 

More news organizations are gaining direct support for their work, with more LION members reporting revenue from subscriptions, individual giving, and foundations as a “major revenue stream” for their organization. 

Based on our latest 2024 membership data, we saw a 10% increase year over year in the number of for-profit members who list subscriptions as a major revenue stream. Similarly, we saw a 10% increase in the number of non-profit members who list major individual gifts as a major revenue stream. 

So it’s no surprise that, yet again, we’re seeing the median annual revenue of all LION member organizations increase — this time, up 15.2% from 2023.

Below, you’ll find high-level overviews of key metrics about our membership, including increases in the number of products members are producing (there are two dominant ones) and members affiliated with nonprofits, plus a breakdown of the most common revenue streams.

Revenue

• The median annual revenue of all LION member organizations is $138,182, a 15.2% increase since last year.

• For organizations that have been LION members for at least one year, the median annual revenue is $147,843, a 13.7% increase from the previous year and 7% higher than the figure for overall membership.

• Across all LION members, philanthropies/foundations and subscriptions gained traction as major revenue streams, with 43% of members listing philanthropies/foundations as a major revenue stream — compared to last year’s 31% — and 22% of members listing subscriptions — compared to last year’s 16%.
• Direct sold advertising, individual gifts (small and major), and subscriptions all saw increases year over year.

• Direct-sold advertising is still the most common revenue stream for for-profit members. With 10% more members selecting this in 2024, subscriptions are now the second most common revenue stream, replacing small individual gifts.
• The top three revenue streams for non-profit members — philanthropies/foundations, small individual gifts, and major individual gifts — are unchanged from 2023.
• Major individual gifts saw the largest increase in traction among non-profit members, going from 43% in 2023 to 53% in 2024.

LION membership overview

• LION membership is up 33% since the first quarter of last year.
• 69% of our current members have been members for at least one year. 
• 31% of member organizations are Focus Members, meaning they are in the Building or Maintaining sustainability stages and are currently led by someone who identifies as BIPOC and/or LGBTQIA+.
• Four out of 10 LION members are, or are under the umbrella of, nonprofits; this is a 55% increase from 2023.

Age

• Roughly half of all LION member organizations are less than five years old; almost 40% are more than 10 years old.

Products

• Originally reported articles (90% of organizations) and newsletters (80% of organizations) remain the two most common products by a wide margin.
• Roughly 40% of members also create video content or facilitate events as part of their offerings.
• One-third of members produce podcasts or unique social media content.
• 22% of members produce printed media in addition to their digital offerings.
  • Over half of these members (56%) are at least 10 years old.

Coverage area(s)

• The most common coverage area is a city or town, with 40% of members (the same as last year) focusing on that geographic scope.

Staff count

• Half of all LION member organizations have one or fewer full-time equivalent employees, a slight increase since last year.

• Slightly less than half of all member organizations have more than 10 total contributors, including full-time and part-time employees, contractors, and volunteers.