Journalism is expensive to produce, yet much of the value it creates is easy to take for granted. News competes for attention with social posts, influencers and an expanding supply of free information, even as publishers invest in the reporters, editors, expertise and verification required to produce credible original work. That means that news organizations need to consistently make an effective case for why professional journalism is worth paying for, investing in and supporting.

A new UNESCO report, The Value of Journalism: Global evidence on why media matters to economics, national security and crises, gives publishers more evidence to make that case. The report brings together research that puts numbers against benefits that rarely appear in conventional media metrics. It links independent journalism to economic growth, government savings, disaster aid and other measurable outcomes. For publishers, the findings provide useful proof points for conversations with audiences, business leaders, commercial partners and policymakers about what journalism contributes—and what is at stake when the resources supporting it disappear. UNESCO’s research provides valuable evidence at a time when the economics supporting original reporting are under strain.

Journalism supports economic growth and government accountability

One of the report’s most significant findings concerns the relationship between journalism and economic performance. Research covering 97 countries found that declines in press freedom are associated with a 1% to 2% reduction in real GDP growth. According to UNESCO, the effects can persist for years.

Access to reliable information helps businesses and individuals make informed decisions. Journalism can also expose corruption and identify waste, producing benefits for governments and taxpayers.

UNESCO cites research finding that every $1 invested in journalism can generate more than $100 in public savings through reclaimed funds, improved services and reductions in corruption. Other research points to the same disconnect between the value journalism creates and the revenue news organizations can capture. A 2025 study of nearly 5,000 people in the U.S., U.K. and Norway found that investigative journalism functions as a public good that markets are prone to under-provide. While those returns don’t appear on a publisher’s balance sheet, they provide concrete evidence of the economic contribution made by organizations that invest in original reporting.

This evidence can be particularly useful in conversations about the conditions necessary to support a healthy news ecosystem. Publishers routinely quantify audience reach and commercial performance. Adding measures of economic impact can help demonstrate the returns journalism generates for institutions and communities that benefit from the work without directly funding it.

The research also offers news organizations an opportunity to consider how they document impact. Some publishers already track policy changes, money recovered for communities, investigations prompted by their reporting and other outcomes. More consistent measurement can give media organizations additional evidence to use with audiences, policymakers, funders and business partners.

News coverage can influence where resources flow

The impact of journalism becomes especially tangible during disasters and humanitarian emergencies. One study highlighted by UNESCO examined 2,337 natural disasters in developing countries and their coverage in U.S. media. It found that each additional New York Times story about a disaster was associated with approximately $500,000 in additional U.S. disaster aid.

The finding demonstrates the importance of visibility as well as reporting. News coverage can put an event in front of people and institutions with the ability to respond, influencing where attention and resources are directed.

That has added significance as the pathways through which audiences discover journalism continue to change. Search and social platforms have long played a role in determining which reporting reaches audiences. AI-generated answers and summaries are now becoming another layer between publishers and information consumers. For news organizations, reach and discovery affect audience development and revenue. The UNESCO research shows that the ability of credible information to travel can have consequences well beyond those business metrics.

UNESCO also examines journalism’s role in countering misinformation and supporting security. The report cites estimates that put the global economic cost of disinformation at $355 billion to $516 billion annually. Research across 152 countries finds that greater access to free media is associated with fewer human rights abuses and lower risks of conflict and repression.

These findings give publishers additional evidence for discussions about the importance of trusted information environments. They also help put a value on investments in reporting, verification and editorial standards that can be difficult to capture through conventional measures of media performance.

Giving publishers more ways to demonstrate value

The report arrives as many news organizations are looking for sustainable ways to support original journalism. Changes in search and social referral traffic are disrupting established audience models, while AI companies are creating products that derive value from professionally produced information. At the same time, publishers are exploring subscriptions, licensing and other revenue streams to support continued investment in content.

UNESCO’s research provides another tool for making that case. Publishers can use evidence of economic and societal impact alongside audience and revenue data to demonstrate what professional journalism contributes and what can be lost when investment declines.

There is also an opportunity for publishers to become more systematic about collecting their own evidence. Tracking the outcomes of reporting, incorporating impact into case studies and communicating those results to audiences and partners can make journalism’s contribution more visible. Such measures can support corporate positioning, policy discussions, consumer marketing and, where appropriate, licensing negotiations.

Media companies will continue to rely on revenue, audience and engagement metrics to make investment decisions. UNESCO’s findings expand the evidence available to them. For publishers seeking support for the costly work of original reporting, a stronger accounting of journalism’s economic and societal returns can help make its value clear to the people and institutions whose decisions will help determine its future.