New report reveals global evidence of independent journalism’s economic and security value

The report, entitled The Value of Journalism: Global evidence on why media matters to economics, national security and crises, shares data that underscores benefits to societies, including economic growth, strengthened national security, and greater resilience against disinformation and crises.  

Launched today during the Global Media Forum in Bonn, Germany, The Value of Journalism is published at a moment when the conditions for independent journalism are more precarious than at any point in recent history: public funding for media is declining, social media platforms and AI threaten media revenue streams, and drastic cuts to international aid and media development budgets have taken a severe toll. As a consequence, audiences worldwide are facing shrinking access to trusted sources of independent journalism and the reliable information they provide. The findings provide a strong evidence base for renewed public and international investment in independent journalism as a public good.

Authored by Professor Mel Bunce and Dr Beth Pearson of City St George’s, University of London, the report synthesizes the latest academic research into the value of journalism to explain its critical importance to economies, national security, and response to crises. It highlights the stakes for societies when journalism declines and disappears. 

Report data highlights include:

• A study of 97 countries found that declining press freedom is associated with a 1–2 percent reduction in real GDP growth — and that this is slow to recover.
• $1 invested in journalism can generate more than $100 in public savings through reclaimed funds, improved public services and reduced corruption.
• Disinformation — which independent journalism is among the most effective tools to counter — costs societies an estimated $355–516 billion each year.
• In 2026, the World Economic Forum ranked disinformation as the second most pressing global risk. 
• Supporting independent journalism offers a comparatively low-cost opportunity: Experts estimate that 0.1% of global GDP – equivalent to just 15 days of global military spending – could fund healthy public media and secure information environments for citizens around the world.
• A study of 152 countries found that greater access to free media is associated with a reduction in human rights abuses, and a lower likelihood of conflict and repression.
• News coverage has a direct impact on humanitarian response: a study of 2,337 disasters found that every additional story in the New York Times generated an additional $500,000 in official emergency aid.

The report is released against a backdrop of worsening global conditions for freedom of expression and independent media. UNESCO’s World Trends in Freedom of Expression and Media Development Report 2022–2025 found that freedom of expression has declined by 10 percent worldwide since 2012, a level not seen in decades, underscoring the urgency of sustained support for independent journalism.

While drawing on the best available global research, the Value of Journalism also highlights the need for continued investment in research from Global South contexts.

The report was commissioned by the partner organizations, members of the Research Working Group of the Media Viability Manifesto initiative, which has set out a common framework for strengthened collaboration around the viability of independent media.