Internet based systems of communication have altered mainstream business practices, including those of the news industry. Web 2.0 applications allow consumers and producers of content to interact in ways not possible in the past. In the last two decades traditional media organizations have faltered as new technology and changing audience expectations have diminished their position of power in their communities. This thesis explores the current state of the news industry and specifically the use of crowdfunding by independent journalists and news organizations. Through six case studies of Canadian journalists and journalistic organizations which have attempted different forms of crowdfunded journalism this thesis reflects on the benefits and drawbacks of this developing financial model. The research suggests that crowdfunding is a limited model which can be utilized in the right circumstances by the right individuals or groups, but is unlikely to replace mainstream funding options.