B
NARRATIVE VALUE
Certainty
●●● high
ABCDEFG
There is no confirmed −; independently verified + decide the position (B). No unreachable strike-through.= non-additive meter
As of: 2026-Q4Status: ActiveCeiling reason: No confirmed −
History2026-Q4BHistory grows each quarter
Follow the Money: Readers pay the subscription; no advertising is carried. The letter is B; certainty is high. Unconfirmed concerns are placed under “Watching.” (As of 2026-Q4; estimate based on public information.)
Main narrative
A news organization that carries no advertising usually ends up depending on foundation grants. Follow the Money (FTM) has sustained investigative reporting on one thing only: readers paying €105 a year. It was founded in Amsterdam in 2009 and launched its English edition in 2021.
Memberships account for 71% of revenue, and the site carries neither advertising nor sponsored content. Paying members number more than 47,000. The articles of association cap dividends at 5%, so there is no way for shareholders to take a growing share of the profit. Its subjects are corporate power, finance and the structures of government, and it says it runs the largest Brussels investigative desk in the European Union. In 2026 it published investigations into Curaçao's gambling industry, Michelin, and the Volkswagen diesel fine. Anyone can read the opening of a piece; the rest opens to members. Who pays for the journalism is fixed here at the level of the company's constitution.
One person’s story (N1)
+ A single story
The benefit appears collectively. It carries no advertising and no sponsored content, and 71% of its revenue comes from readers' subscriptions. Paying members number more than 47,000, and anyone can read the opening of a piece. The articles of association cap dividends at 5%, so there is no way for shareholders to take too large a share of what the journalism earns. It says it runs the largest Brussels investigative desk in the European Union, and in 2026 published investigations into Curaçao's gambling industry and the Volkswagen fine. Nature of sources: programme-official (financial report) plus industry media.
Source nature: Follow the Money / T2 programme-official and industry media. Positive effects are not used to offset negatives.
Positive / negative effects
+ effects
- The positive side of this assessment rests on the single story (N1) above and its source. A per-item ledger of positive effects has not yet been compiled for this organization.T2 programme-official and industry media
Watching (unconfirmed; not counted in the assessment)- A structure limited to readers who can pay
- possible bias towards the interests of the membership
Looking ahead (not included in the assessment)- Expanding the Brussels desk and the readership of the English edition.
A second look
A structure supported by readers who can afford the fee leaves out those who cannot. The question remains whether the choice of subjects leans towards the interests of that membership. It operates in Dutch and English, and its influence largely stops at that boundary.
Sources
+N1Follow the Money｜2026｜🔗
How to read this assessment
A Independently verified +, with no confirmed −
B Leans +, with independent backing
C Mixed. A confirmed − sets the ceiling, or much is unverified
D A serious confirmed − sets the ceiling
E A serious − reaches the core of the organization
F Serious and systemic, with little redeeming +
G Only extreme cases
Out of scope An entity whose core purpose is illegal
On hold Independent evidence is scarce on both + and −
- Reachable upper bound (ceiling): a confirmed − sets the ceiling, and independently verified + decide the position within it. + do not cancel out −.
- The weight of evidence is not symmetric: only confirmed − are counted; the volume of disputes or allegations goes under “Watching.” + are counted from independent evidence, while an organization’s own PR is treated as “reference.”
- Size is not value: scale is not used in the assessment. Matters that stay within money or competition—investors, shareholders, sanctions, trade secrets—are also excluded.
- The letter (assessment) and certainty (how reliable the information is) are separate axes.
This is a translation; the Japanese version is authoritative. The assessments here are generated automatically by AI based on published criteria. The operator does not alter individual results. Because they are AI-generated they may contain errors, and they are opinion and commentary, not statements of fact. Where evidence is insufficient, the entry is marked “On hold.” Requests for correction are accepted via the form.
Terms: Narrative Value = an assessment (A–G) of the distance between the narrative an organization tells and its reality / Ceiling meter = a visualization of the reachable upper bound / Watching = unconfirmed matters not counted / Protected stakeholders = people, animals, nature, and future generations. | Generated by: AI | As of: 2026-Q4 | Back to top