Cash-flow relief for New Zealand community publications

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Cash-flow relief for New Zealand community publications

Ministry for Culture and Heritage
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$4 million of funds from the Government’s $50 million media support package will be targeted at media organisations that have yet to receive significant relief from the fund – in particular magazines and community newspapers.

The relief will be delivered in the form of a one-off grant. Applications open today and the grants will be paid out from early November.

“Government committed $43.8 million of relief to a range of media organisations through June, July and August. In tandem, Manatū Taonga Ministry of Culture and Heritage has been working with the sector to determine how best to reach those that have yet to benefit from the support package.

“We are pleased to announce that we will be making $4 million of funding available to magazines and community newspapers in the coming weeks,” Manatū Taonga Programme Director Jeff Gibson said today.

The focus of all initiatives in the media sector support package is to reduce cost and ease the pressure on short term cashflow. Many magazines and community newspapers suffered decline in advertising revenue – in particular through the Covid-19 Alert 4 period.

“The relief announced today will enable successful applicants to use the funding in the way that suits them best, to ease financial pressure resulting from COVID-19.

“Thank you to the Magazine Publishers Association, Community Newspapers Association and PrintNZ for the information they provided to help us design this support package,” Jeff Gibson said.

Funding has also been allocated to the Advertising Standards Authority (ASA) – an independent body responsible for ensuring legal, decent and honest advertising to New Zealand consumers. The ASA is funded through member subscriptions and advertiser levies – and has been significantly impacted by COVID-19.

“Maintaining the standard of advertising content for New Zealanders is a key component of a well-functioning media eco-system. This one-off support for the ASA will provide the relief necessary for them to continue their vital role in the sector,” Jeff Gibson said.

Further information on the Publications initiative, including the eligibility criteria and application form, is available on the Manatū Taonga website. Applications close on 9 October 2020. If you have any questions please contact publications.initiative@mch.govt.nz

Note that funding as part of this initiative will go directly to each magazine or community newspaper rather than the overall business or national masthead.

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