Reuters president Paul Bascobert spoke with The Verge editor in chief Nilay Patel on his “Decoder” podcast about its business strategy and using new technology.
He noted that geopolitical issues in the United States and elsewhere “reverberate throughout the world” and Reuters mission is to provide analysis and context that is fair, fact-based and balanced.
“The value of Reuters is being there and knowing what is being said,” said Bascobert. He argued that the world wants truth about issues and news. “I do believe that,” he said. “I believe in humanities desire for truth.”
Bascobert said the operation is growing in the “high single digits” and is profitable. He noted that its consumer operation is directed at professionals. The company recently started a $1-per-week subscription to its website. “We think there is a very large global audience out there,” said Bascobert, noting that Reuters has 200 news offices around the world.
Bascobert disclosed that Reuters has about 100,000 subscribers, but it has not launched the website subscription in every market it wants. “We’ve been very happy with the rate, but we have a long ways to go,” he said.
“We see Reuters.com as being adjacent to your passion read, your first read,” he said.
