Progressive Megadonors to Invest 'Tens of Millions' in Creators and New Media Ahead of 2026

Democracy Alliance, the largest network of progressive philanthropists, plans to direct "tens of millions" of dollars into new media and creator-driven journalism to better reach younger audiences and counter conservative influence ahead of the 2026 cycle, Democracy Alliance president Pamela Shifman told Semafor after a three-day retreat.

The move reflects a strategic shift after the 2024 elections. Members concluded that traditional channels—paid television ads and legacy broadcast—no longer reach the audiences the movement needs to engage.

Why The Pivot?

Founded in 2005 to coordinate liberal funders, Democracy Alliance has funneled more than $2 billion into think tanks, media outlets, and temporary electoral campaigns. Although it helped target key House races in 2024—winning ground in New York and California—the alliance could not prevent Republicans from winning a governing trifecta. That outcome, and ensuing efforts to probe or weaken longstanding liberal institutions, convinced some donors that electoral work would be undermined if voters' media diets steered them toward MAGA-aligned and conservative content.

The New Media Fund

In a memo shared with Semafor, the alliance urged donors—who may give anonymously—to back a newly created media fund. The fund aims to back creators and outlets that have successfully engaged young people and to build progressive presence in nonpolitical cultural spaces where conservative creators have gained traction.

"Donors are more fired up, are more clear about the stakes, and more ready to go all in to defeat authoritarianism. Because it is more than just about one election, right? It is about defeating authoritarianism,"

— Pamela Shifman, Democracy Alliance

The fund would support organizations that have demonstrated an ability to break through to younger audiences, naming examples such as the Emmy-winning More Perfect Union. It would also aim to fund creators producing lifestyle and cultural content—areas conservatives have long cultivated to build relationships with young people.

Voices From The Movement

Progressive media founders and organizers welcomed the emphasis. Tara McGowan, who founded Courier Newsroom in 2019, said the movement was slow to adapt to a changed media ecosystem and that legacy outlets alone would not reliably deliver progressive reporting to broad audiences.

"The old way of working through traditional and legacy outlets was not going to actually get factual reporting, never mind progressive values-driven reporting, in front of the American people,"

McGowan also pointed to a generational gap among donors: many older donors still rely on legacy media and need to learn how creator economies and social platforms shape today's information flows.

Challenges And Context

Convincing donors to invest in left-leaning media has not been easy. Some associate such efforts with past failures like Air America, a liberal radio startup from the Bush era that lasted under six years. For years, donors preferred funding turnout and campaign infrastructure because those investments produced more immediate electoral returns.

Polling shows Democrats tend to trust established outlets more than Republicans do, but many young voters do not consume legacy media at all. The alliance argues it is critical to meet people where they already are—in social feeds, creator channels, and community spaces—and to fund trusted messengers who can build relationships before translating engagement into civic participation.

Shifman emphasized that this is not a proposal to shift cultural positions: "That is not why we are losing, because the Democrats are too 'woke'," she said. "Our strategy really is about meeting people where they are. And we also need to have a vision of what we are going to do to improve people's lives."

Looking Ahead

The New Mexico retreat—attended by roughly 200 members of the alliance—also included discussions of other investments and ended with an emergency strategy session on responding to a recent Supreme Court decision. Progressive leaders say the current moment feels different from past attempts: greater urgency, bigger budgets, and a clear focus on cultural as well as political outreach.

Whether this infusion of funding will produce scalable creator-driven outlets that change political narratives remains to be seen, but it marks a deliberate effort by progressive philanthropists to close the gap with conservative-funded alternative media ahead of the 2026 cycle.