Two days ago, Matthew Rothschild, editor and publisher of The Progressive, sent an impassioned email to me and other subscribers detailing the financial woes at the 100-year-old magazine.
Let me put it to you straight: We must raise $90,000 in the next two weeks to keep going.
We’ve got no money in the bank, and we have payroll to meet on August 31, and our printer to pay, and other creditors hounding us.
We’ve got to shell out $130,000 in the next two weeks, but we’re only expecting to bring in $40,000.
If you go to their website, you can make a tax-deductible donation.
This morning, Mr. Rothschild sent another email saying that 158 people had donated over $12,000 the past two days, with pledges for more.
Another left-leaning magazine In These Times has also been having stringent times and has been asking for donations via email as well.
Both magazines have instituted staff cutbacks and other measures to cut their costs.
I’ve been giving a donation some thought, but having spent a couple of years in the declining newspaper industry, I’m wondering whether it’s a good investment. In the emails from both the Progressive and In These Times, they don’t really identify the cause of this money shortage. In These Times says it is the current economic conditions. But let’s face it, a lot of magazines have already gone under, and most magazines are feeling the pinch as advertisers take their dollars online.
So the question seems to be, are these temporary shortfalls or are these magazines no different from others in the industry in terms of declining subscriptions and declining advertising? A lot of the hustle and bustle in the political scene has gone online. Does it even make sense to have monthly magazines on politics anymore? I’m wondering if The Huffington Post, Talking Points Memo, The Daily Kos and others have been part of the problem for these two magazines. As these websites have seen their traffic rise, are print publications being left in the dust? Certainly. When you can go online any time of the day and get the latest buzz, one wonders if the thoughtful, well researched pieces in these magazines are becoming overlooked.
The Progressive just celebrated it’s 100-year anniversary a couple of months ago here in Madison, Wisconsin, but after one hundred years, is there still a future in print? I’m a subscriber to both The Progressive and In These Times, and I like both publications. Ultimately though, I wonder if giving money will go to anything other than meeting a short term need that will never go away.