Skip to comments.Newsweek, Daily Beast together have lost about $30 million (Dinosaur Media DeathWatch™)
Posted on 10/31/2011 12:20:56 PM PDT by abb
Tina Brown says The Daily Beast website is on track to be profitable this year, but Lucia Moses points out that getting the combined NewsBeast into the black by early 2013 Daily Beast backer Barry Diller insists thats possible will be a daunting task. If that task takes years and Newsweek cant find a way to regain the relevance weekly newsmagazines have lost since the explosion of news on the Internet, then Diller and Jane Harman, Sidney Harmans widow, could reach the point where they finally decide to cut bait, she writes. The idea that NewsBeast could ever become a successful operation has always seemed far-fetched. On the bright side, Newsweeks newsstand sales are up under Tina Brown, but newsstand sales are only 3 percent of the magazines circulation, and they dont make it much money, notes Moses. Reed Phillips, managing partner at media investment bank DeSilva+Phillips, tells her:
I dont think its a quick turnaround. Advertisers are going to take time to get comfortable that Newsweek is on a solid foundation. And the ad markets jittery already. I think the biggest challenge is, it has to be redefined in a way that has to be engaging with readers. New York magazine did it. With the talent The Daily Beast has, theres anticipation that that can be done. And it needs more of an edge compared to what it was in the past, before they bought it.
Brown said last November that it will take a while for her to make on Newsweek, and that the print/website combo is a good model. She told WWD.com: Youre seeing this with Bloomberg and BusinessWeek, and Politico and its newspaper, and now youre going to see the Daily Beast and Newsweek.
Drop dead, Newsweak. “News stand sales are up.” This is only because of the cover attacking Sarah Palin that all the commies bought to show on their limp TV shows.
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Snoozeweak has worked very hard over the decades to loose readership. They deserve everything that happens to them.
Companies run by people who have a hatred for Capitalism struggle in a Capitalist system. Who’d a think it?
Why should I buy paper and get yesterdays news, when I can log on get real time news?
Damn - they were really counting on that last OBama “jobs-program!”
Thanks for posting. DEFUND socialist collectives and their propagandists.
The media in general is such an enigma.
They operate in a capitalist system, but yet openly advocate communism.
They operate under the protection of the 1st ammendment, but openly campaign for marxists.
They are actively participating in their own demise.
If the Daily Beast is hurting, how’s the Daily Brute doing? </Evelyn Waugh
Which is proof that liberalism is a mental disorder.
Maybe FR should ban all articles from those faux news. Why should we give them hits...just makes their site seem to be generating lots of hits.
“Why should I buy paper and get yesterdays news, when I can log on get real time news?”
Exactly. My subscription dues go to Free Republic.
I almost never click on sites like Daily Beast. I have no respect for it, or for others like it.
Barry Diller has probably crawled in and out of as many beds and hot tubs as Rock Hudson.
Somehow, he is a survivor and not a poor man, in fact, he is about making money, why he wastes his time or money on this beast is more about ego than anything.. let it go, Barry. let it go.
Happy Halloween ...
... to all you people in the MSM including: newsers, nitworks, mag ho's, cable ho's, music ho's, and Hollyweird!