The newest owner of Newsweek, IBT Media, says newsweekly is profitable once again
The media company IBT Media said today that the Newsweek was once again profitable. According to the publisher of the International Business Times, Medical Daily, Latin Times and iDigitalTimes, revenues at the news weekly that was once owned by The Washington Post Co., have grown 400 percent.
“Our business plan to support Newsweek’s quality journalism is working. Clearly there is an appetite for premium content,” said Etienne Uzac, co-founder and CEO of IBT Media. “In addition to bringing this iconic brand back to print, we’ve expanded advertising, significantly increased subscriptions and grown the online audience tremendously.”
The company also said that traffic to Newsweek.com has increased from less than one million to nearly six million unique visitors a month, between October 2013 and September 2014.
What was missing from the announcement, of course, were any hard numbers concerning revenue, nor what expenses are hitting the Newsweek P&L.