The Atlantic will reportedly see another loss of millions this year as NBC News reports the magazine and multi-platform publisher to lose another $10-million.
Last year, The Atlantic $20-million despite a rise in subscriptions through the coronavirus pandemic and 2020 presidential election.
Nonetheless, Nicholas Thompson, the chief executive, provided a presentation last month to employees where he reported the losses but gave an optimistic outlook for 2022 and 2023.
“We are on a path to profitability, or sustainability,” Thompson said. “Our losses have narrowed every year. We’re vastly ahead of where we thought we would be.”
Thompson stated the magazine needs to make $50 million in annual subscription revenue if they want to break even. This quota doesn’t seem as though it will be reached as The Atlantic is averaging 10,000 new subscriptions a month.
“We did four years of business last year,” Editor-in-chief Jeffrey Goldberg told NBC News. “One of the core challenges is, how do we keep all those new subscribers?”
The publication wants to keep new subscribers by making various high-profile hires in recent months, including Tim Alberta, Caitlin Dickerson, and Jennifer Senior.
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
