Jeffery Goldberg, editor-in-chief of The Atlantic, is anxious that the journal will go below if income doesn’t develop dramatically, in accordance with NBC News.
The report comes after the chief govt of The Atlantic, Nicholas Thompson, knowledgeable staff that regardless of the journal’s subscription development in 2020 — largely fueled by the pandemic — their numbers have began to say no.
“And even with final yr’s substantial surge, the journal had misplaced greater than $20 million and was on monitor to lose one other $10 million this yr,” reported NBC Information’ Dylan Byers, noting that Thompson remained optimistic regardless of understanding that The Atlantic must earn $50 million in annual subscription income simply to interrupt even.
“We’re on a path to profitability, or sustainability,” Thompson mentioned in an interview. “Our losses have narrowed yearly. We’re vastly forward of the place we thought we might be.”
Regardless of Thompson’s constructive outlook, Goldberg reportedly doesn’t really feel the identical method and as a substitute considers the lack of subscribers as probably detrimental to the journal.
Goldberg’s concern that The Atlantic might shutter partially comes from Laurene Powell Jobs’ function as a benefactor, as she purchased a majority stake within the journal 4 years in the past in an effort to “show that there is usually a sustainable mannequin for journalism in the event you put money into it.”
“Goldberg privately expressed concern that Powell Jobs and her group, Emerson Collective, would possibly pull the plug if the journal doesn’t attain profitability inside the subsequent 4 to 5 years, Atlantic sources mentioned,” Beyers wrote.
The editor, nevertheless, has publicly expressed an opposing viewpoint:
“I’ve mentioned many instances that Laurene and Emerson Collective each have strategic endurance and have made the assist of high quality journalism their essential aim right here, however that in addition they imagine that readers can pay for high-quality journalism,” he mentioned. “They count on The Atlantic, a maker of high-quality journalism, to change into worthwhile over time. I feel Laurene is a superb proprietor who’s on this for the long term.”
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