The Washington Post is looking at a massive loss of $100 million in 2023. The paper experienced a boom during the Trump years but Joe Biden has been terrible for business.
Of course, the paper could have avoided some of this by reporting honestly and covering Biden’s scandals with the same energy that they obsessed over Trump, but they’re not going to do that.
Progressives have ruined this once highly respected organization.
The Washington Post Is Facing a Financial Buzzsaw
The Washington Post has big problems, and this time, it’s not just the loss of the outlet’s credibility, though that’s an evergreen issue.
The once-storied newspaper is staring at a massive $100 million loss in 2023 due to the continued hemorrhaging of subscribers following the 2020 election. Apparently, Joe Biden isn’t good for business. For four years, the Post feasted on a never-ending stream of stories surrounding Donald Trump as president. In more recent times, that hasn’t been nearly as lucrative, though.
10 years after The Washington Post was purchased by Amazon founder and billionaire Jeff Bezos, the outlet is “on a pace to lose about $100 million in 2023,” according to a recent New York Times report.
Bezos took over the Post for $250 million in 2013, in one of the most significant media acquisitions of the last decade. The Post’s famous saying, “Democracy Dies in Darkness,” became the official slogan of the paper in 2017, under Bezos’ watch.
But it seems that even Bezos could not turn around The Post’s flagging popularity with readers.
“The Post has struggled to increase the number of its paying customers since the 2020 election, when its digital subscriptions peaked at three million. It now has around 2.5 million,” The Times wrote in a story headlined, “A Decade Ago, Jeff Bezos Bought a Newspaper. Now He’s Paying Attention to It Again.”
The Washington Post has become a punchline.
Remember when this news outlet ran a multimillion dollar Super Bowl ad narrated by Tom Hanks about how their reporting protects our democracy? https://t.co/np71PAWmXm
— Oilfield Rando (@Oilfield_Rando) July 22, 2023
It’s pretty sad.