Europe’s news industry faces significant challenges. The shift to online platforms has disrupted traditional business models, creating “news deserts.” Declining distribution and advertising revenues, alongside sector financialization, have left outlets vulnerable to external pressures.

The European Commission could strengthen media resilience by combining public funding with targeted private investments, leveraging its experience with blended finance tools. Addressing legislative and regulatory gaps to improve the effectiveness of media and democracy promotion measures is crucial. Engaging Big Tech through mechanisms like a bargaining code or tax would help fund media freedom efforts.

Additionally, increased financial support for tech transitions in the media sector and structural reforms within institutions, such as the European Board for Media Services, would reinforce media sustainability. Collaborating with civil society and international partners could further enhance media freedom and sustainability.