Losses hardly a 'fortune'

Saturday, 28 July, 2012, 12:50am

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You quote Michael Bloomberg (Business Post, December 1) as saying, 'Keep in mind the most successful attempt to sell news to the public is the Wall Street Journal Interactive edition . . . but after five years they have only 350,000 subscribers. I'm told the churn rate is 50 per cent . . . and I'm told they lose a fortune on it.' Your readers should know that the facts are: Renewal rates for the Interactive Journal run in excess of 75 per cent, right in line with our print editions' renewal rates.

It took only three years, not five, to reach 350,000 subscribers.

The Interactive Journal was actually profitable in the month of September but in general we are investing in its growth, which usually does result in some loss. Hardly a 'fortune', though.

URBAN C. LEHNER Publisher and Executive Editor The Asian Wall Street Journal