The Washington Post appears to be doomed as the left-wing newspaper continues to face major losses, a new report has revealed.
According to the report from Puck News, the Post is facing collapse as it loses $100 million a year.
The eye-watering losses are due to a failing business model, the report argues.
Aside from financial woes, the corporate media outlet has also lost over half of its online engagement by the end of 2023.
The signs were already there by the middle of last year and the worst has come to pass.
“Of that audience, less than one in five read more than a single article per month, while less than one in 500 actually convert to a paying subscription.”
— Josh Kraushaar (@JoshKraushaar) January 6, 2024
“The data—yes, it really is that bad—suggests that the Post is not only suffering from the absence of a coherent business plan, but it is also suffering from a profound product problem”
— Josh Kraushaar (@JoshKraushaar) January 6, 2024
The vast wealth of the Post’s billionaire owner Jeff Bezos has helped mask some of the issues plaguing the peper.
However, the tide can only be held back so long.
For an outlet with such high overhead costs to lose over 50 percent of its online viewership is catastrophic.
Subscriber numbers have also plummeted since President Donald Trump left office.
The data shows subscribers nosediving throughout Democrat President Joe Biden’s administration.
The outlet, which has focused heavily on its political attacks against Trump, has suffered dramatically without him in the White House.
The 45th president has been firmly back in the headlines the last year, though.
Nevertheless, the Post has continued its downward spiral.
If Trump being charged with multiple felonies isn’t enough to save the once-storied paper, it’s hard to imagine what could.
So far, it’s unclear where Bezos will go from here.
The path the news outlet is currently on is vastly unsustainable.
Continuing to dump money into a sinking ship is a bad investment.
However, the Post’s leaders are more beholden to their left-wing radicalism than market forces.
Therefore, there is no reason to think the ship can ever be saved.
