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    Oct. 30, 2009, 11 a.m.

    GlobalPost generating revenue of $1 million in first year

    Every future-of-news conference should invite , director of the and , if only to serve as the scribe. He was, fortunately, in attendance at yesterday’s on business models for news, hosted by our friends across Harvard Yard at the .

    I’m always on the lookout for new data on the news industry, and there’s plenty in Densmore’s . In particular, I was interested to see traffic and revenue for , the international-news startup that launched in January with a to supplant the loss of newspaper foreign bureaus. Josh also jotted down notes that I’m using here.

    Phil Balboni, chief executive of GlobalPost, said the company is on pace to generate $1 million in revenue this year and expects $3 million in revenue next year, which would reduce their operating loss by 50 percent. (He didn’t say so explicitly, but you might deduce from those numbers that GlobalPost’s annual expenses are $5 million.) The goal is to achieve profitability by 2012.

    GlobalPost’s current revenue streams are advertising (sold exclusively in-house), syndication (with partners like and the ), and its subscription service. Balboni said they have 500 paying customers for Passport, which costs $104 a year or $50 for academics and seniors. “I see the path to 25,000 or 50,000 members in the years ahead,” he said.

    As for traffic, Balboni said they’re up to 500,000 unique visitors per month with a goal of 1 million monthly uniques by next year. Seventy-five precent of those visitors are in the U.S. or Canada. He said GlobalPost needs 2 million to 4 million monthly uniques to be profitable.

    GlobalPost has a of full-time editors in Boston’s North End, and content is produced by a cadre of across the world.

    POSTED     Oct. 30, 2009, 11 a.m.
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