This seemingly nothing little slide actually reveals huge truths about the newspaper industry. Which is that subscription numbers—while they’re the backbone of what newspapers can sell against!—bring in basically negligible income. It also shows the number one mistake of newspapers. If editorial costs are a mere 14% of revenue, then the hugest mistake of the last 5 years has been the brutal hollowing out of editorial staff, which results in less content to sell and, indirectly, in less good content to sell against.
jratlee posted this
