Cashing in or selling out?


Corporate work has become a major source of journalists’ income. Samantha Downes looks at the professional and ethical issues


T


wenty years ago, most freelancers could make a decent living from journalism alone. When I started out as a financial journalist in the early 2000s, I regularly had a healthy amount of commissions on my books every week.


Almost all of it came from newspapers and magazines,


including specialist publications. Te occasional corporate project might crop up – writing a guide for a regulator, helping with consumer information or contributing to a government- backed campaign – but journalism paid the mortgage. Since then, editorial budgets have been squeezed or


disappeared, publications have closed, paginations have shrunk and freelance rates have stagnated. Add in the rise of free online content, content marketing and AI-generated copy and it is a perfect storm. Te good news is that while many publishers appear to


value journalists less, companies are increasingly valuing them more. Te skills journalists spend years developing – interviewing reluctant sources, translating complex information into something people can read, working to impossible deadlines and understanding media law – are now highly sought after by corporate clients. Writing or contributing to white papers and thought-


leadership reports, conference moderation, chairing round tables, media training and communications consultancy all pay significantly more than traditional editorial work. So for many freelancers, corporate work is no longer a side


hustle but has become their main income stream. Tis shift can raise uncomfortable questions. One experienced older journalist told me in confidence that they did not feel journalists could serve both the public and corporate interests. Does writing for companies compromise editorial


independence and, when journalism becomes the shop window for corporate work, where do we draw the line? First, the financial reality is difficult to ignore. One former


editor who now works full time in corporate communications pointed out that the financial press is now overrun by corporations in the form of editorial comment: “Tey are swallowing up space from proper independent freelancers, with no commercial incentive other than to earn a few quid and get a byline. Tis means freelancers have to look elsewhere to earn their money, and corporate is an option.” Angelique Ruzicka is a freelance journalist but works full


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time as a content designer. For her, the economics became impossible to ignore. “Sadly, they pay better so you can relax the hustle a bit,” she says. “Te reason why I started doing corporate work is because it paid better. If I could get all of my money from journalism, I wouldn’t have switched. But it started drying up. Around 2022, it went down.” AI is changing expectations, she notes: “Everyone believes


they can be a writer and a blogger and you lose business out of that.” For Robert Smith, a B2B journalist with more than 20 years’


experience, redundancy prompted an unexpected move into PR and corporate copywriting. “Te copywriting paid 40 per cent more than editorial


freelance rates; the PR role paid double editorial rates,” he says. With a mortgage to pay and editorial work drying up, he


took on corporate work full time: “Was I selling my soul to pay my mortgage? I never felt that way. I did not have a choice.” Corporate clients are not just “buying words”, he says. “Tey


are buying the skills journalists develop over years of reporting. Abilities to digest complex information quickly, interview experts effectively, meet tight deadlines and produce clear, accurate copy are still highly prized – just not by traditional publications.” Georgia Lewis, who has worked extensively in journalism and


corporate communications, says journalists’ unique perspective is highly desired. She fits in her work in technology, business and travel journalism with corporate editing, proofreading and conference moderation. She says journalists considering corporate work need to


Dependence on corporate clients can influence decisions on what stories to pursue


know their value. “If you are going to do corporate work, you cannot be shy about pricing,” she advises. “Definitely charge way more than you would for journalism work. You’ll probably be working for big companies with big budgets and they should pay for the expertise a journalist can bring to the table.” Lewis says that, in areas such as financial services, technology


and health, specialists can command significant fees because they understand both the subject matter and the audience. Te main concern about corporate work is over journalistic


independence. Unease is growing that the line between reporting and promotion is becoming blurred. A pensions specialist told Te Journalist that quality can be


affected by journalists simultaneously acting as commentators, PR consultants and spokespeople for major financial firms.


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