Washington Post chairman: Paywalls aren’t profitable. We’re going to do a paywall.
Good luck with this.
I guess I am still surprised with the mainstream media — that left-leaning executives and investors (who want to make money) hire very liberal news management (who are more concerned about advancing an agenda than making a profit for the company), and that they all would rather go out of business instead of simply making a product that most Americans would want to read and watch.
With the increasingly impotent media, this doesn’t bother me much. But it still surprises me. Most people would care, particularly in a bad economy, if they needlessly lost tens of millions of dollars of other people’s money.
From The Wall Street Journal’s article titled, “Washington Post Plans a Paywall”:
The Post is dealing with a steep decline in its core business of print advertising. Its newspaper division reported an operating loss of $56.3 million for the first nine months of the year, reflecting a 14% decline in revenue to $160.7 million. The company lost its chief revenue officer in the spring, and the search for a replacement continues.
“We are obviously looking at paywalls of every type,” [Chairman Don Graham] said. “But the reason we haven’t adopted them yet is that we haven’t found one that actually adds profits immediately. But we’re going to continue to study every model of paywall and think about that, as well as thinking about keeping it free.”
Connect with Benjamin Hodge at Facebook, Twitter, LinkedIn, Google Plus, Tumblr, mrcTV.org, YouTube, The Kansas Progress, and LibertyLinked. Hodge is President of the State and Local Reform Group of Kansas. He served as a member of the Kansas House of Representatives, an at-large trustee at Johnson County Community College, a delegate to the Kansas Republican Party, a Republican precinct committeeman in Johnson County, and was founder of the modern Overland Park Republican Party. His public policy record is recognized by Americans for Prosperity, the Kansas Association of Broadcasters, the Kansas Press Association, the Kansas Sunshine Coalition for Open Government, the NRA, Fox News’ Bill O’Reilly, the Foundation for Individual Rights in Education (FIRE), and Kansans for Life.