Good news over at The Washington Times. The paper is expecting to turn a profit next year for the first time since it was founded in 1982.
“We’re on course to erase what in 2012 was a $25 million annual loss,” Larry Beasley, president and CEO of The Washington Times said in a statement. “In 2012, monthly losses averaged $2.1 million. By the end of this year, monthly losses are expected to be in the low six figures. Starting next spring or summer, we expect to be profitable because of continued revenue growth and some more belt-tightening.”
The Times attributes much of the good news to its website—which has seen its number of unique monthly visits jump 35 percent to 9.2 million per month from 6.8 million in 2012.
“The Times will continue to publish its print editions while increasing the number of its digital products,” John Solomon, editor and vice president for content and business development, said in a statement. “The Times used to be a newspaper with a web site. Today it’s a multimedia company with an influential print newspaper that’s read and distributed on Capitol Hill and elsewhere.”
Of course, the paper has had to make some tough business decisions to get on a more sustainable path. According to Beasily, The Times‘ national weekly edition has outsourced its customer service operations and the daily print edition of the paper has had to increase its subscription prices in order to boost its revenue.