The Atlantic Editor Jeffrey Goldberg Reportedly Freaked Magazine Will Shutter Unless Revenue Grows Dramatically

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Jeffery Goldberg, editor-in-chief of The Atlantic, is worried that the magazine will go under if revenue does not grow dramatically, according to NBC News.

The report comes after the chief executive of The Atlantic, Nicholas Thompson, informed employees that despite the magazine’s subscription growth in 2020 — largely fueled by the pandemic — their numbers have started to decline.

“And even with last year’s substantial surge, the magazine had lost more than $20 million and was on track to lose another $10 million this year,” reported NBC News’ Dylan Byers, noting that Thompson remained optimistic despite knowing that The Atlantic needs to earn $50 million in annual subscription revenue just to break even.

“We are on a path to profitability, or sustainability,” Thompson said in an interview. “Our losses have narrowed every year. We’re vastly ahead of where we thought we would be.”

Despite Thompson’s positive outlook, Goldberg reportedly does not feel the same way and instead considers the loss of subscribers as potentially detrimental to the magazine.

Goldberg’s fear that The Atlantic may shutter partially comes from Laurene Powell Jobs’ role as a benefactor, as she bought a majority stake in the magazine four years ago in an effort to “demonstrate that there can be a sustainable model for journalism if you invest in it.”

“Goldberg privately expressed fear that Powell Jobs and her organization, Emerson Collective, might pull the plug if the magazine doesn’t reach profitability within the next four to five years, Atlantic sources said,” Beyers wrote.

The editor, however, has publicly expressed an opposing viewpoint:

“I’ve said many times that Laurene and Emerson Collective both have strategic patience and have made the support of quality journalism their main goal here, but that they also believe that readers will pay for high-quality journalism,” he said. “They expect The Atlantic, a maker of high-quality journalism, to become profitable over time. I think Laurene is an excellent owner who is in this for the long run.”