This may not be a comparable example, but the TexasTribune is a digital only publication that focuses on Texas news and political coverage. They operate on dona

This may not be a comparable example, but the TexasTribune is a digital only publication that focuses on Texas news and political coverage. They operate on donations and through revenue from content partnerships. According to their about page[1] they will break even on $4.5 million this year. Looks like the model can make sense. You have to be smart about the audience and focus on quality, value-add content. 1. http://www.texastribune.org/about/ http://www.texastribune.org/about/