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The article looks at the evolution of the independent Russian television channel “Dozhd.” It analyzes its business model, which is based on webcasting and a participatory approach. The adoption of the web format and the support of its viewers have enabled the channel to gain a foothold in the Russian media landscape and to adapt to the economic constraints imposed by the government. Dozhd initially sought to strike a balance, catering to the wishes of its target audience while avoiding provoking the authoritarian regime, which exercises control over traditional broadcasters. Ultimately, however, the participatory model has led the channel to shift its focus to its viewer community, which is critical toward the regime. This tactic, while exposing the channel to the economic pressures of the regime and depriving it of access to advertisers and traditional broadcasters, allows it to keep operating and to adapt to the constraints imposed by the Russian state.