The publisher announces the next stage of its strategy as it aims to secure 2 million paying supporters by 2022.
In an announcement to staff this week, The Guardian’s editor-in-chief Katharine Viner and Guardian Media Group chief executive David Pemsel revealed their plans for the next three years, as the publisher is set to break even this month.
“As we look ahead, we are setting a new goal for the whole organisation: to attract 2 million people to support The Guardian financially by the end of our 200th anniversary year, in 2022,” they said in an email.
In three years, The Guardian has managed to turn its finances around by reducing costs by 20% and, at the same time, increasing regular readers by 40%. This has resulted in an increase in revenues and over a million paying contributors across print and digital.
They added: “It was clear that we needed to take urgent action to safeguard the future of The Guardian in perpetuity. In January 2016, we launched our new relationship strategy, aiming to deepen our reader relationships, increase the financial contribution from our readers, evolve our advertising proposition and reshape our organisation and our finances.”
Viner and Pemsel’s objectives for the next three years will be to invest in journalism, grow the paper’s international presence and diversify reporting topics and staff.
Official financial figures are expected to be released at the end of April.
Source: The Guardian