Washington Post Reports $77 Million Loss In 2023

Will Lewis, the newly appointed publisher and chief executive of the Washington Post, has addressed staff at the company’s DC headquarters to outline his vision for leading the iconic newspaper to financial prosperity, Oliver Darcy reported for CNN.

The Post has seen a dramatic 50% drop in audience since the peaks of 2020. I Photo: Ron Cogswell Flickr

Lewis began by candidly explaining the Post’s recent financial troubles, revealing that it had lost $77 million over the past year and seen a dramatic 50% drop in audience since the peaks of 2020.

“To speak candidly,” Lewis told staffers at the beginning of the 90-minute meeting, “we are in a hole, and we have been for some time.”

However, Lewis said he has a plan to rescue the renowned newspaper that has broken some of the biggest stories of our time and turned its most influential journalists into household names.

The plan, officially dubbed the “build it” phase of the turnaround project (following the “say it” and “fix it” phases), was illustrated with a pyramid in a PowerPoint presentation.

The pyramid showed the traditional subscription membership stacked with new subscription and payment offerings for readers.