WaPo launches WP Ventures to create products and experiences “worth paying for”
The Washington Post is launching WP Ventures with the goal, states Matt Murray, Executive Editor, of strengthening “our business by increasing the profitability of our more consumer-oriented coverage and building new products and experiences that drive habit and are worth paying for.”
In addition, Murray provided the staff of The Post with the following information about WP Ventures:
Over the last few months, colleagues from the newsroom, opinion and business teams have focused on creating and developing a plan for WP Ventures, formerly known as the “Third Newsroom.” The goal is to explore how The Washington Post can effectively grow our reach, revenue and relevance with new audiences in a rapidly changing media landscape. A particular focus has been expanding our presence on social media and creating new commercial opportunities for consumer and lifestyle journalism, while accelerating innovation and cross-company collaboration.
Steered by Managing Editor Krissah Thompson, (in photo) this team has gathered ideas from many of you in shaping the strategy, structure and business plan for WP Ventures and the next chapter of growth at The Post.
The Post has a history of innovation in digital storytelling and prior successes on platforms like TikTok and Instagram, and we are building on the greatest off-platform reach in our history, bolstered by the strength of our journalists’ platforms. But the need to move faster to reach untapped audiences and innovate is urgent, given the broad, and rapid, industry shifts in reader habits and economics.
I’m delighted that Krissah, who has demonstrated exceptional leadership and talent, will serve as Editor of WP Ventures. Krissah is creative, steadfast and dynamic, with the right experience and outlook to lead us in pushing the boundaries in journalism and innovation. She has earned the trust of our newsroom and will continue to foster the kind of collaboration across Ventures, the newsroom and the rest of the company that is necessary for this new effort to succeed.
Krissah, who reports to me, has been at The Post for more than two decades, with roles including reporter, Style assignment editor and Managing Editor. She has covered topics ranging from immigration to voting, civil rights and race and the East Wing of the White House while leading the cultivation of and investments in our Audio team, the Style section and the Climate desk.
More here.
Photo: The Washington Post
