EDITORIAL: Income and Expenses of CiberCuba, Our Accounts in 2020

In accordance with the transparency standards required by journalistic practice and professional commitment, CiberCuba deems it essential to publicly disclose the source of its income and the allocation of its expenses for 2020.

Imagen referencial © CiberCuba
Reference imagePhoto © CiberCuba

This article is three years old.

In adherence to the transparency standards required by journalistic practice and professional commitment, CiberCuba believes it is essential to make public the source of its income and the allocation of its expenses during 2020.

Although the decision to clearly and unambiguously disclose the use of our operational funds is a practice that our publication has established as a strategy for its credibility and positioning, the recent aggressive campaign of attacks orchestrated by the Cuban government against journalists and independent media makes it even more pertinent to continue emphasizing the reasons that legitimize and support our project.

The escalation of invectives and defamations against CiberCuba has been relentless over the past year, involving both prominent spaces of official propaganda and high-ranking figures of the Cuban regime.

All these allegations bear the same disqualifying mark regarding the supposed funding we receive from Washington through agencies and federal entities such as the United States Agency for International Development (USAID) and the National Endowment for Democracy (NED). It’s a kind of invisible money that no one has been able to trace or document, yet it is repeatedly linked to sinister intentions to distort Cuban reality and undermine the stability of the current regime on the island.

None of the obsequious frontmen of the official narrative, whether it be the official Johana Tablada, Deputy Director General of the U.S. Division at the Ministry of Foreign Affairs (MINREX), Abel Prieto, the pompous president of Casa de las Américas, or the drivel of ventriloquist Humberto López on the National Television News, have been able to provide a single piece of evidence, a single confirming document, or even a hint to support their desperate attempts to saddle us with money that has never been in our coffers.

The financing model of CiberCuba has been able to function effectively so far, without the need to rely on government or private funds that would compromise its editorial line and informational independence.

The confusion of these entrenched janissaries in the outdated Castro school is explained. Despite facing a year of economic difficulties and enormous challenges brought on by the coronavirus pandemic, CiberCuba not only demonstrated a tenacious and creative survival but also established a leading presence in the landscape of Cuban digital journalism.

Among the professional milestones of 2020 was reaching a record 20 million page views in July, the highest in its history, and surpassing 5.6 million unique monthly users for the first time. Readers residing in Cuba are vying for the top spot in terms of visitors to our website alongside those from the United States.

On Facebook, our outlet has reached a monthly audience of over 11 million people, with about 13 million engagements (comments, likes, shares, etc.). Despite censorship and challenges with internet service, 1.8 million people read us on Facebook from Cuba. The interaction, following, and contributions from readers on the island are becoming increasingly robust.

The period was also marked by significant growth in information and strong efforts to provide original content. We maintained systematic and impactful coverage regarding the emergence and spread of the coronavirus in Cuba, and we gave extensive attention to the events of the San Isidro Movement and the November 27th demonstration in Havana since last November.

The details of the complex presidential elections in the United States have been reflected in our pages from the primary candidacy process to Joe Biden's inauguration, including several direct discussions with renowned panelists. We also secured exclusive interviews with both candidates for the White House, engaging in conversations that addressed the essential concerns of the Cuban community and our compatriots on the island.

It is important to reaffirm that, as has been the case since the beginning of operations in 2014, all our revenue last year was generated exclusively from internet advertisements or advertising from independent advertisers, with no connection to political organizations, interest groups, or governments.

Every cent that supports the existence of CiberCuba comes from sources related to our operational management, completely independent of programs or agencies from the United States, Spain, or any other country. Our project also does not use funds to promote political platforms, parties, social movements, or power groups.

This is the breakdown of our financial activity, which we are sharing with our readers and followers.

In 2020, CiberCuba generated revenues of 771,604 euros and 7 cents, representing a 10% decrease compared to the revenues of 2019. This decline was primarily caused by the economic effects stemming from the pandemic. The sources of this revenue were distributed as follows: 222,485.04 euros from direct advertisers; 221,045.48 euros from AdSense (Google's advertising platform); 195,659.34 euros from advertising agencies; 127,414.21 euros from Facebook advertising (with over 1.2 million followers); and a total of 4,499.04 euros in contributions from our readers.

From the list of direct advertisers, it should be noted that none of them accounts for more than 10% of CiberCuba's total revenue.

CiberCuba's revenue in 2020

Of the total income, it is important to highlight that 60.2% was allocated to personnel expenses, primarily for covering employee salaries, social security, and related costs. Additionally, 26.5% was used for payments to third-party services (such as collaborators, accountants, lawyers, among others). The remaining 11.5% was distributed among the internet service expenses necessary for the operation of our editorial platform, servers, news agencies, office supplies, and other minor expenses.

As seen, expenses of 803,190.13 euros exceeded annual income, forcing the company to draw on its reserves to ensure the full operation of its information services.

CiberCuba Expenses 2020

CiberCuba's funding model has been able to operate effectively so far, without the need to rely on government or private funds that could compromise its editorial line and information independence.

We advocate for and welcome the existence of public contributions and private entities for the development of media projects that promote rigorous informational communication, diversity, and creative freedom. However, we believe that journalism fulfills its public service mission more effectively when it is free from ties to political, ideological, or social mobilization agendas that compromise its autonomy.

We are living in turbulent and decisive times, not only for journalism but for the future of Cuba. The worsening economic crisis, the relentless progression of the pandemic on the island, and the exhaustion of a political regime that seems deaf to the urgent demands of the population all signal a moment of crucial changes in the reality where the vast majority of our readers were born, live, or identify their deepest aspirations.

With the responsibility of being a preferred source of information for Cubans both on the island and in the diaspora, about their country currently plagued by repression, persistent scarcity, and hopelessness; and with a firm determination to promote communication in favor of democratic values and civic participation, CiberCuba aims to continue its professional work with transparency.

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