Revenue
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Over the past two months, coronavirus has sent huge amounts of traffic and paid subscriber growth to news publishers. It has given them huge newsletter audiences too. Next week, USA Today will launch its fourth national coronavirus newsletter. … more
There’s a new commercial playbook in place at Jeff Bezos’s Washington Post since the lockdown evaporated its usual ad market, and it is built around brands showing their utility in the wider world. Or, as the Post’s chief revenue officer Joy … more
A cluster of bookish Seattleites dodged winter raindrops on Feb. 5 and filed into the cozy confines of the Fireside Room in the stately Hotel Sorrento. Settling into wingback chairs and squeezing together on couches, the eager readers ordered drinks … more
In March and April—as the economic crisis linked to the spread of COVID-19, the disease caused by the new coronavirus, started to hammer the media industry—news organizations made cuts. Some of these involved layoffs; others, including furloughs … more
The closure of BuzzFeed News in Australia may have grabbed the headlines last week but the digital startup is just one victim on a growing list of media casualties of the Covid-19 pandemic. Five editorial staff at BuzzFeed have lost their jobs, and … more
The coronavirus is causing many publishers to experience of bifurcation of their ad sales that’s led to an evaporation of the mid-sized deal. Many large digital publishers are finding the bulk of their deal flow is smaller deals. There are still … more
Advertising is down for Boston Globe Media (publisher of The Boston Globe and Boston.com, among others) despite traffic being double what it was last year. This no longer makes for surprising news. Also not surprising is that those new visitors are … more
Bloomberg Media, The New York Times, The Wall Street Journal and The Guardian, among others, have all had a boost in new paying subscriptions since the coronavirus. Two months later and aggregate data from subscription technology platforms shows … more
The Financial Times is cutting its spending on non-staff contributors and implementing further cuts to pay and working hours as it continues to “navigate through” the coronavirus downturn. The newspaper has seen 50,000 new digital subscribers … more
Like many publishers, The Washington Post put together a special email newsletter that carries the latest coronavirus coverage. In the span of just two months, the newsletter, which combines a reported top story with curated Post pieces about the … more
In a memo titled “The Course Ahead,” Vice Media Group CEO Nancy Dubuc announced a large round of layoffs to staff. The number includes 155 workers—55 of whom will lose their jobs today. The remaining 100, meanwhile, will be let go in the … more
Quartz CEO Zach Seward sent out the following to the staff regarding the layoffs and restructuring: Hi, Quartz Thank you for joining our meeting just now. Here’s a transcript of my remarks. From the start of this crisis, I’ve wanted to give … more
As COVID-19 has brought newsrooms worldwide to their knees, one French Canadian outlet is flourishing—less than a year after going bankrupt. Quebec City’s Le Soleil doubled its number of readers this spring as the pandemic swept the globe. The … more
As parts of the U.S. economy begin to open up, there’s new hope that the key retail sector will start to get going—and start spending on advertising. But some publishers remain wary of doing big deals with retailers, based on the possibility … more
In the span of about 10 weeks, local newspapers that were leaning hard into a push for digital subscriptions in 2020 instead dropped their paywalls amid a spike of traffic to coverage of the COVID-19 crisis, but then saw a surge in digital … more
Solid local reporting, regular coverage of business openings and ribbon cuttings, a trusted presence for decades in Washington County: None of it was enough to keep the Bulletin going when the pandemic hit. A weekly newspaper covering Woodbury, … more
What do the Seattle Times, Axios, and the National Enquirer have in common? They didn’t all win a Pulitzer recently; rather, they’re all among the “small businesses” eligible to apply for financial assistance under the federal … more
Tribune Publishing and The Chicago Tribune Guild, the union representing its newsroom employees, have reached a tentative agreement to furlough 160 editorial staffers for one week in the months of May, June and July, while postponing discussions of … more
The effects of COVID-19 are already being framed as an “extinction event” for journalism, causing dozens of news outlets to collapse around the world. Tens of thousands of newsroom jobs have been lost or reshaped by the pandemic. That’s why … more
The media industry is mostly in dire straits, particularly those dependent on advertising revenue. A media company that hasn’t rolled out pay cuts, furloughs and layoffs in this period is an exception to the norm. Despite many publishers recording … more
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