Jack, dire financial situations at Big Tech companies, like Meta, Google, Microsoft, Amazon, and Salesforce, are getting all the big headlines. However, what you may not be seeing are the financial hard times that are once again hitting media companies.

Just how bad is it? Mark Zuckerberg, the founder of Meta, cites shrinking advertising revenue as one of the primary reasons for financial woes at the company. Given that his company, along with Amazon, Google and Apple took in a whopping 68% of digital advertising revenue in 2022, just imagine the struggle facing smaller media companies that rely solely on advertising revenue.

To make matters worse, many are predicting that 2023 may see even smaller advertising budgets than in 2022.

Thankfully, years ago, Daily Kos diversified our revenue so we weren't relying solely on advertising. Today, we depend on three sources of revenue–advertising is still important–in addition to community fundraising and list building, in which Democratic and progressive campaigns pay for the opportunity to make their case to our readers over email.

So far this year, both advertising and our list building efforts have fallen short of our forecasts. We knew we would face challenges in the months after an election–we usually do–but we’re even missing those lowered projections. We have already made deep financial cuts and are making other changes that we hope will improve our revenue. However, we will not see the impacts of those changes for a few more months.

At this time, we are relying more and more on the support of readers and activists to cover our expenses. Can you support the work of Daily Kos by making a donation of $5 today?

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Thanks 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.