Two full-scale newspaper launches, The Daily Memphian in Tennessee and analyst Ken Doctor’s Lookout Local in Santa Cruz, California have achieved major milestones, reports Poynter.
The Daily Memphian has celebrated its second birthday while Lookout Local has appointed high-profile executive editor Chris Fusco. Eric Barnes, founder and CEO of The Daily Memphian structured a fact sheet of the past two years:
The newspaper is also on track for its five-year goal of 25,000 paid subscribers and breaking even.
Doctor, like Barnes, decided not to launch before careful planning and hiring a well-paid staff of 17 or so. If it’s a success in Santa Cruz, Doctor hopes to have a replicable model for digital-only news startups that would work in other communities.
As of now, Lookout Local has raised $2.5 million in foundation grants to get started and Doctor counts The Daily Memphian as one of his models.
“We thought it would be presumptuous for a new local news company to begin publishing just before the election, so we are opting for soon after and pointing to a robust 2021,” Doctor said.
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