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The Washington Post is in trouble.
The Washington Post is losing $100 million per year currently.
It has also lost over half of its online engagement.
“Of that audience, less than one in five read more than a single article per month, while less than one in 500 actually convert to a paying subscription.”
— Josh Kraushaar (@JoshKraushaar) January 6, 2024
Red State reported:
Is The Washington Post in full-scale collapse? A recent look at the numbers provides a fairly convincing answer to that question.
According to the report, not only is the Post losing $100 million a year, but it lost over half of its online engagement by the end of 2023. The signs were already there by mid-year, and the worst has come to pass.
Having a billionaire sugar daddy has helped mask some of the issues plaguing the Post, but the tide can only be held back so long. To lose over 50 percent of its online viewership is catastrophic for an outlet with such high overhead costs. Subscriber numbers have also nosedived throughout the Biden administration.
That last fact is interesting because the trend was originally blamed on Donald Trump no longer being in the news. The former president has been firmly back in the headlines the last year, though, and the Post has continued its downward spiral. If Trump being charged with multiple felonies isn’t enough to save the once-storied paper, it’s hard to imagine what could.