In these times of financial trials
for newspapers, it’s a comfort to find one that’s doing well. When Rupert Murdoch’s News Corp bought the Wall Street Journal in 2007,
journalists everywhere wrung their hands in agony, predicting that the highly
respected WSJ would be turned into
one of Murdoch’s Page Three Girl tabloids. But that hasn’t happened, according
to Editor & Publisher (April
2010). Not only is the paper still a distinguished journalistic enterprise,
it’s thriving. Its circulation has increased to more than 2 million
subscribers, making it the largest daily in the U.S.; and advertising revenue is up
23% from a comparable period a year ago. WSJ
is hiring, too — adding about three dozen journalists at a time when the rest
of the industry has shed 27% of its newsroom positions. And its website is
equally robust. The Journal charges
readers for all content, regardless of point of access; and its website revenue
is about $200 million in subscriptions, representing 15-20% of total revenue,
and traffic is up 25% to about 22 million users. But no comics. No editorial
cartoons either.
Comments