Beacon Transcript – The Washington Post has reportedly announced that it will be expanding its newsroom by adding new members as the newspaper also reported a profitable year.
The newspaper industry is not at its highest point. Over this past few years, it has been on a slow decline. One of the reasons seems to be the rise of the Internet. More readers seem to be turning towards digital platforms.
As such, subscription and advertising retail are falling. And the traditional industry is slowly declining. However, the Washington Post seems to be defying this trend.
The Washington Post is a daily newspaper. It is the most widely circulated paper in the Washington D.C. area. As it was founded in 1877, it is also the oldest extant paper.
The newspaper was formerly owned by the Graham family or the Graham Holdings Company.
Back in 2013, they sold it to Nash Holding LLC. This is a holding company established by Jeff Bezos. The Washington Post acquisition was valued at $250 million.
Bezos is the founder, CEO, and chairman of Amazon.com. He is an investor, philanthropist, and technology entrepreneur.
The Washington Post seems to be defying market expectations following the acquisition. As most newspapers are facing potential difficulties, the Post is turning in profits.
Not only that, but it will also be expanding. Recent media reportedly obtained a staff memo. Earlier this month, Fred Ryan, a Post publisher, sent out a memo.
In it, he pointed out some facts and offered future plans. According to it, the Washington Post is looking to develop its new initiatives in 2017. It will also be turning in a profitable 2016.
Ryan is reported to have stated as follows. Thanks to the Post’s team, the company will be turning a profit as it is also growing.
As the Post’s newsroom was bigger this year when compared to the last, it will reportedly continue to grow. Media estimated approximate over 60 new newsroom positions. As such, The Washington Post could come to boast with about 750 newsroom members.
This would bring it closer to the current market leader. The New York Times currently has a newsroom staff of around 1,300.
The Washington Post will be creating a new investigative team. This will be a “rapid-response” team. They will also be reportedly adding to its video and breaking news staff. Other newsroom areas could also come to benefit.
According to the reported memo, this year has brought quite some advantages. It was said to have reinforced the team’s faith in a viable journalism business model.
This will be the base for next year’s initiatives. It will be the source of the additional funding necessary in such projects.
The Washington Post memo pointed out a few of the newspapers’ 2016 developments. It reported about 100 million monthly unique visitors. This was the value registered in the United States. Some 30 million more can be added from around the world.
The Post’s outreach has also increased. It was estimated to have raised by about 50 percent over this past year. As such, the newspaper’s reach has expanded at both a national and international level.
Subscriber numbers also marked an increase. Since January, they have seen a 75 percent rise. As such, the subscription revenue is said to have more than doubled.
Following the Bezos acquisition, the Post also increased its technological properties. As such, it improved its website and analytics.
The aforementioned Ryan went to offer some details earlier in 2016. According to him, The Washington Post has become a “media and technology” company. Ryan also stated that Bezos, the new owner, gave the green light towards new initiatives.
This should help the Post find new ways to engage readers, expand its newsroom, and also the engineering team.
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