Jack, back in June, it was reported that the news media had already shed 17,436 jobs. In other words, during the first five months of this year the media industry had a record rate of layoffs—exceeding that of during the pandemic. The staff of the billionaire Jeff Bezos's Washington Post are just the latest casualties.

There are numerous reasons for the financial tailspin that news outlets find themselves in: economic uncertainty, decreasing advertising revenue, and social media algorithm changes.

To be honest with you, Daily Kos has felt every single one of these financial pinches. For the better part of a year, we have consistently missed our monthly advertising revenue projections. What has kept Daily Kos afloat are the tens of thousands of donations of just a few dollars from our readers and activists.

Daily Kos survives because of you, Jack. Please support progressive and independent news by making a donation of $5 or more to Daily Kos.

DONATE
Thank you for all you do,
Amanda McKay, Daily Kos

Jack, news outlets are hemorrhaging jobs: The Washington Post just announced that it would have to lay off an additional 240 people.

Like so many other news media outlets, the Post cites a drop-off in subscribers after Trump left the White House and ever-shrinking advertising revenue. The Post isn't alone, these financial hardships are systemic among news media outlets, including here at Daily Kos.

Unfortunately, the result is a record number of media job cuts this year. Moreso than during the pandemic which Buzzfeed News dubbed as a "media extinction event"—Buzzfeed News shutdown earlier this year due to financial struggles.

For the better part of a year now, Daily Kos has also faced similar financial challenges. We have seen two of our three sources of revenue, advertising and list building, miss their projections. We have relied more and more on the grassroots donations from our readers and activists to cover our operating expenses.

After months of strong fundraising, we are starting to see that source of revenue start to falter too.

Daily Kos doesn't rely on some billionaire backer, corporate sponsor, exclusive subscriptions or limiting paywalls—we rely on the tens of thousands of readers and activists donating a few dollars at a time to help us make ends meet. That's why I am asking you, Jack, to support progressive and independent news with a donation of $5 or more today.

DONATE
Thank you for all you do,
Amanda McKay, Daily Kos

If you wish to donate by mail instead, please send a check to Daily Kos, PO Box 70036, Oakland, CA, 94612. Contributions to Daily Kos are not tax deductible.