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The Boston Globe names a new president and sets a paid circulation goal of 400,000

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On February 22, 2024

In Media

Boston Globe Media CEO Linda Henry just announced some pretty big news: chief operating officer and chief financial officer Dhiraj Nayar has been promoted to president; Henry herself will be less involved in the business side and more focused on “additional bandwidth to better support our world-class editors”; and she’s aiming for a “North Star” goal of 400,000 digital subscribers for the Globe, which would represent a considerable increase over its current level of about 250,000. Henry has also set a goal of 100,000 paid digital subscribers for Stat, which is Globe Media’s health and medicine publication.

The first thing that strikes me about the circulation goal is that Henry must be planning a significant expansion into parts of New England where the Globe isn’t especially visible. Currently the paper has digital editions focused on Rhode Island and New Hampshire, and has bolstered its coverage of Greater Boston as well. The second is that Henry, who has been fully in charge of the business side since 2020, is planning a significantly different role for herself. We’ll see how that plays out.

Here is the text of Henry’s email to the staff, provided to me a little while ago by a trusted newsroom source:

Hello everyone,

As CEO, my number one priority is to continue setting us up for long term success. Today, I’m excited to share changes that strengthen our leadership team for increased resilience and adaptability in our ever-evolving business landscape.

I am delighted to announce the elevation of Dhiraj Nayar to the role of President of Boston Globe Media.

Dhiraj joined the Globe in 2018 as CFO, bringing over 20 years of management consulting experience. In 2020, he also became COO and has demonstrated collaborative leadership and dedication to the company’s mission while supporting key areas of our business including printing, distribution, and operations. His strategic insight and ability to balance financial discipline while allowing for growth investments has played an instrumental role in shaping the success and stability of Boston Globe Media.

Before joining Boston Globe Media, Dhiraj worked as a management consultant, advising senior executives at media/information, financial, telecom and private equity companies. He led initiatives at multinationals such as Unilever, Wolters Kluwer, Telstra and American Express. His private equity work included initiatives with Francisco Partners and MacAndrews & Forbes among others. He was the managing director of Meritum Partners, a boutique management consultancy he founded, and was a partner at Opera Solutions (now ElectrifAi). He started his consulting career at A.T. Kearney (now Kearney), a global management consulting firm, after earning an M.B.A from Columbia Business School.

In his new role as President, Dhiraj will oversee our business functions, with a focus on setting us up for long term sustainability. He will continue leading finance and will work closely with me to set our organizational vision and strategy.

What changes for me?
I will continue to serve as CEO and will remain fully engaged in my work with all members of our Senior Leadership Team. With Dhiraj managing our business functions, I’m excited to have additional bandwidth to better support our world-class editors. I truly love working here. I am proud of the work that we do to serve our community and I am invested in remaining an active part of this organization for the rest of my career.

Why now?
After a transformative decade of growth and innovation at Boston Globe Media, the Senior Leadership Team and I have set North Star goals of 500K direct digital subscribers for Boston Globe Media, with 100K of those for STAT.  These targets underscore our commitment to the long term sustainability of this institution with a strong leadership team at the helm.

As CEO, I have been intentional in making sure our leadership team fosters a culture of innovation and maintains a steadfast dedication to our long term success. In the last four years alone, we have demonstrated remarkable resilience and innovation, navigating a global pandemic and expanding our reporting into critical areas. We have celebrated significant milestones: the Globe’s 150th anniversary and winning our 27th Pulitzer Prize. Our newsrooms have earned some of the most prestigious honors in journalism, including the Polk, Edward R. Murrow and Online Journalism Awards. We have been named Pulitzer Finalists every year. In addition, we are recognized for excellence in many areas of our work, including our digital products with top website design, our advertising solutions and our marketing campaigns. We were recently named among the top 100 most innovative places to work in the country. We have expanded our geographical footprint in Rhode Island and New Hampshire, we launched Boston Globe Today, we rebuilt and optimized Boston.com, and we have brought in fantastic new editors, Nancy Barnes and Jim Dao.  We are continuing to add to our newsroom teams, to invest in our journalism, and to improve our subscriber experience.

Additional Leadership Updates

    • Dan Krockmalnic will be assuming operational oversight of our printing and distribution operations. In this expanded role, Dan will work closely with Josh Russell, GM, Print Operations and his Taunton-based leadership team. He will continue leading the Legal and New Media teams as well as the company’s work on legislative and advocacy issues through his service on the board of the News Media Alliance and as Vice President of the Massachusetts Newspaper Publishers Association.
    • Rodrigo Tajonar will be assuming oversight of the building operations team led by Lauren Rich. He will continue to lead the human resource function.
    • Tom Brown has been promoted to SVP, Consumer Revenue. Tom has served as the strategic leader of our consumer revenue and subscription strategy and built a highly functioning and talented team that is well regarded throughout our industry. Tom also oversaw consumer marketing from 2018 – 2020 when he and his team pioneered a new acquisition approach with a long trial period that propelled significant subscriber growth and has been widely adopted throughout our industry. As a result, we are the clear leader among all major metro publishers in the number of digital subscribers and revenue from those subscriptions.
    • Michelle Micone has been promoted to SVP, Innovation & Strategic Initiatives. Michelle started our Innovation practice in 2020. Since then, she has grown Hack Day into Innovation Week and led the establishment of the Innovation Platform, which has increased our employee engagement around new idea generation and implementation, including the launch of the B-Side. Michelle will continue to lead Innovation and will partner with various leaders at BGM on Strategic Initiatives such as Globe Rhode Island, Globe New Hampshire, Tech Powers Players, AI, and more. Michelle and her team are currently leading the development of Games, scheduled to launch next month on com [BostonGlobe.com].

The changes announced today move us forward, keeping us focused on fulfilling our critical mission and positioning our organization for long term sustainability.

Please join me in congratulating Dhiraj, Dan, Tom, Michelle and Rodrigo. I look forward to connecting with you at our next Town Hall on Monday, March 4th.

Thanks all,
Linda Henry

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Boston Globe Media is hiring for a morning newsletter to be called Boston Local

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On June 13, 2022

In Local News

Earlier today, in an item about the debut of Axios Boston, I expressed some puzzlement that The Boston Globe doesn’t have a morning newsletter. It sounds like that’s about to change.

A sharp-eyed reader sent me a link to this job ad for a lead writer for a newsletter to be called Boston Local. It sounds like a fairly ambitious endeavor that will encompass not just the Globe but its sister Boston Globe Media properties as well — Boston.com and Stat, which covers health and life sciences.

Boston Local, according to the ad, will publish seven days a week and will include “Big Stories, curated Community News, Event Spotlights, Weekend Guides, and additional rotating featurettes.” The newsletter will also have its own social channels and live events.

No word on when Boston Local will debut.

Update: Sarah Betancourt of GBH News snagged this a few weeks ago. I even hit the like button at the time, but then I promptly forgot about it.

Boston Globe Media eyes expanding into TV, films, broadcast and radio

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On December 24, 2021

In Media

Public domain photo by Circe Denyer

Boston Globe Media Partners produces more fourth-quarter memos than I realized. I’ve posted most of them as they waft in from trusted sources.

This one strikes me as interesting because it outlines BGMP’s plans “to develop projects for television, film, podcasts and radio, and other media: we seek to amplify the remarkable stories found across all of BGMP’s newsrooms [The Boston Globe, Stat and Boston.com] by giving them new lives in these media formats beyond the print and digital word.”

The memo, written by Dan Krockmalnic, executive vice president for new media and general counsel, points to a few examples — most significantly “Gladiator,” the Spotlight series on Aaron Hernandez that was simultaneously released as a podcast and is now being developed as a television series.

“Not every New Media project can or will have the phenomenal reach of ‘Gladiator,’” Krockmalnic writes, “but success for us is getting our journalism out in new forms that reach new audiences where they are.”

I realize some of these memos are very inside, but that’s part of what Media Nation is for. So here is the full text of Krockmalnic’s message:

New Media Department Update — Q4 2021

Dear Colleagues,

Thanks for reading my Legal Department update a few weeks ago. Today I’m excited to share with you highlights from the work of the New Media Department over our first year as a standalone group within the company.

What is the New Media Department, and why start one?

As others have noted, BGMP has been expanding from a newspaper into a modern multimedia company. Many of the stories told in the journalism the Globe has produced — and those stories from STAT and boston.com, too — are well-suited to be told in other mediums — be they about a larger-than-life personality, a you-can’t-believe-it’s-true crime story, or a world-leading medical breakthrough. Spotlight was a remarkable film that did wonders to establish our name and our brand in this space. That was a film about us; we wanted to lean into the business of regularly making projects that are by us.

And so now, the New Media team leads our efforts to develop projects for television, film, podcasts and radio, and other media: we seek to amplify the remarkable stories found across all of BGMP’s newsrooms by giving them new lives in these media formats beyond the print and digital word. Done right, this increases our exposure and appreciation by reaching new viewers and listeners with our journalism. It also adds separate revenue streams as we seek to diversify our business.

This ground has been trod by others: I look admiringly at the New York Times’ achievements in this space that include many groundbreaking and award-winning documentaries, The New York Times Presents show, the 1619 Project-related media, the scripted Modern Love series, The Fourth Estate documentary series, and their growing podcasting and audio empire.

Who is the New Media Department?

I started off alone on the business side, with Scott Allen in the Globe’s newsroom as an essential partner right from the jump. Linda [Henry, the CEO of Boston Globe Media] had the immediate good sense that the vision required expert help, and so after a lengthy interview process, Ira Napoliello joined us this past March as Director of New Media. Ira was exactly what we needed, having spent the better part of two decades as a film producer in Los Angeles before moving to Boston to be close to his wife’s family.

How do you spend your time?

Our days are split between working with our colleagues at BGMP and dealing with our entertainment partners. They include our agents at UTA and Aevitas; Hollywood film and television studios and streamers; podcasting companies; the creative talent like writers, directors, actors and producers; and talent agents and managers.

Ira joins various newsroom staff meetings and stays in regular contact with editors and reporters to ensure that we are aware of upcoming stories and investigations. He also spends time scouring the Globe archives to try to find stories from the past that might be right for adaptation. As ideas begin to take shape, we schedule and lead an alarming number of internal and external meetings and calls to shepherd the projects from concept to reality.

We listen a lot and we read even more. We’re looking for the stories that make you want to share them with a note: “You need to read this one.” Sometimes they are so unbelievable as to sound… not believable. Think: the comedic tale from Neil Swidey about a 25-year war between two neighbors in Beverly, or Shelley Murphy’s sweeping Finding Lisa piece about a woman’s genealogical search for her family revealing that the man she thought was her father was actually a serial killer.

We don’t need to look far to point to what success looks like: Spotlight’s remarkable Gladiator series on the tragic life of Aaron Hernandez was a groundbreaking six-part series that was smartly coupled with the simultaneous release of a chart-topping podcast series created in partnership with Wondery. The podcast’s runaway success caught the eyes (ears?) of executives at the FX network. And so earlier this summer, FX announced that Gladiator will now have its third life as a scripted, limited-run series on its television and streaming channel as American Sports Story, part of Ryan Murphy’s American Crime Story franchise. The show is currently being written and will be filming next summer and is set to debut in 2023. Our Spotlight team is working now with the show’s creatives to ensure that the series remains truthful to the original reporting.

By the end of its run, Gladiator will have led to thousands of new Globe subscriptions, over 10 million podcast downloads, and its own season-run show. That means subscription, advertising, licensing, and production revenue — a perfect example of what we aspire to when we talk about a modern media company. And all founded on the truly exceptional journalism for which we’re known.

Not every New Media project can or will have the phenomenal reach of Gladiator, but success for us is getting our journalism out in new forms that reach new audiences where they are. We succeed when we make smart calls on projects: as Brian has put it, each such project is a bit of a lottery ticket, and we’re looking to tip the odds in our favor with decisions that allow us to de-risk our investment — just like the gang behind the Cash WinFall scheme did with the Massachusetts State Lottery in the remarkable 2011 story from Andres Estes and Scott Allen.

What have you accomplished so far?

We’ve had some early successes in our first year:

We are thrilled to be finalizing an agreement with one of the most prestigious streamers to produce two parallel projects — a multi-part documentary and a multi-episode podcast series — about a well-known Boston true-crime story. The documentary will be directed by an award-winning documentarian and the podcast will be the streamer’s first-ever foray into original investigative journalism. More to come on this soon.

We helped close a deal to license STAT’s first feature-length documentary, Augmented, to GBH’s Nova to distribute and air. Augmented tells the story of Hugh Herr’s new way of performing amputations that will allow bionic limbs to move and feel like the real thing, decades after his own legs were amputated in a mountain-climbing accident.

In the “older” media realm of book deals, we are working with Black Dog & Leventhal to publish a book on the history of the Boston Red Sox as told through the Boston Globe. (Here’s their analogous book with the New York Times and the Yankees; fortunately, it hasn’t needed much updating in the last 20 years…).

A few other stories we are actively working to develop include:

The murder of Tiffany Moore: 12-year-old Moore was a victim of a 1988 gang crossfire shooting. Her death became a symbol of the depravity of gang violence and led to the conviction of the wrong suspect thanks to overzealous, unethical law enforcement that wrongfully charged and prosecuted Sean Drumgold. Globe reporter Dick Lehr’s work led to his exoneration decades later. We are working with Dick to revisit the crime with an eye to something more: identifying the real killer and getting justice for Tiffany.

The Boy in the River: in April 1972, 13-year-old Danny Croteau was found dead in the Chicopee River. He was killed by blunt force trauma and left floating, face down, in the water. His murder was unsolved for almost 50 years. In May 2021, former Catholic priest Richard Lavigne confessed to the murder from his death bed. We will work with Novel, the award-winning and London-based podcasting company, to produce a documentary podcast featuring our own Kevin Cullen that explains how crucial institutions including the police, prosecutors and the Church failed Danny and allowed Lavigne literally to get away with murder.

Sparkies: the largest arson ring in U.S. history — including Boston police and firefighters — set over 160 fires in the early 1980s in the stunningly mistaken belief that these public dangers would somehow convince the city to restore cuts to police and fire services. One arsonist, a Boston Housing cop who called himself “Mr. Flare” to the media, threatened to keep setting fires “till all deactivated police and fire equipment is brought back.”

Camp Q: Inspired by Zoe Greenberg’s viral story from this summer, we are developing a character-driven scripted comedy about an eventful couple of days at a New England summer camp where seemingly everything went wrong.

We work on each project to ensure that, whatever the medium the story is told in, it is worthy of having the Boston Globe Media name attached to it. As we’re always on the lookout for new stories, please drop us a line with any interesting ideas that you feel could make for a great project. We’re excited to make it happen.

Happy holidays,
Dan

Dan Krockmalnic
Executive Vice President, New Media & General Counsel
Boston Globe Media Partners, LLC

 

How the COVID pandemic hypercharged Stat

By

On March 30, 2021

In Media

Illustration (cc) 2020 by Prachatai

Luke Winkie has a terrific piece up at the Nieman Journalism Lab about the five-years-in-the-making overnight success of Stat, the health- and life-sciences site that’s part of Boston Globe Media.

The newly unionized Stat was designed as a niche site at is launch in 2015, which I wrote about for GBH News. Now the project is growing by leaps and bounds — from 1.5 million unique visitors a month in 2019 to 23 million, and, more recently, back to around 7 million. Stat has about 50 employees, which is about the same as when it started, though up slightly over its pre-pandemic head count. And it’s looking to hire another 20. Executive editor Rick Berke tells Winkie:

Stat has changed forever after last year. As a media company, we were on a good trajectory before the pandemic. But there’s no going back to the pre-pandemic reach that we had.

The Globe’s Stat goes union

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On March 26, 2021

In Media

Some pretty big news from the Boston Newspaper Guild: “Dozens” of journalists at Stat, the health- and life-sciences digital news organization that’s part of Boston Globe Media Partners, are becoming part of the union.

Stat was started in 2015, and its non-union status has been a source of tension, at least among some Globe staffers, right from the beginning — especially since Stat journalism often gets carried in the Globe.

The news comes after a year in which Stat really came into its own as a nationally respected source of information about the COVID epidemic. The full text of the press release from the Guild follows.

Journalists at Award-Winning STAT Are Joining The Boston Newspaper Guild

The Boston Newspaper Guild welcomes dozens of STAT media company employees operating in bureaus nationwide and overseas to the union representing workers at New England’s largest newspaper

BOSTON – Dozens of journalists from the award-winning STAT media company will be joining The Boston Newspaper Guild (BNG), the union which represents more than 300 Boston Globe employees, union representatives announced today.

“Becoming part of the Guild matters when it comes to things like job security, wages, and protection in the event ownership changes. This is a really exciting moment for us,” said STAT reporter Damian Garde. “I’m looking forward to collaborating on critical issues like securing better health insurance and other key benefits.”

“Having STAT workers become part of the Guild means a stronger voice. We all work within the structure of the Boston Globe Media Partners and we stand united,” said Guild President Scott Steeves, a publication layout designer at The Globe since 1984. “At a time when independent journalism is so important, Guild members strive to deliver the highest-quality news product possible while also standing together to ensure economic and workplace protections. Our members fight for good working conditions, fair treatment by management, and equitable opportunities when it comes to career advancement.”

STAT is a media company focused on finding and telling compelling stories about health, medicine, and scientific discovery. STAT is produced by Boston Globe Media and headquartered in Boston, but has bureaus and journalists in Washington, New York, San Francisco, Los Angeles, and Cleveland. It was created by Globe Media owner John Henry.

STAT employs some of the best-sourced science, health, and biotech journalists in the country, as well as motion graphics artists and data visualization specialists.

Despite the skill and talent they contribute, these employees lack robust representation at work, an inequity that will be remedied with their inclusion in the Guild. With the rapid changes in media organizations, and increased corporatization of the news industry, the ability to advocate and speak out at work is essential.

BNG represents The Globe’s reporters, editors, page designers, web producers, advertising salespeople and advertising sales support persons, ad-designers, circulation managers, accountants, marketers, and information technology specialists, security guards, shippers/receivers, nurses, and secretaries. For decades, its members have produced Pulitzer Prize-winning, nationally-acclaimed work, as well as safeguarding the rights and benefits of Globe employees.

The STAT announcement takes place amid ongoing concern about Globe management’s handling of New England’s largest newspaper and its treatment of employees, who have been working for more than two years without a new contract. For months, Globe management has pushed to take away long-standing workplace protections and benefits. The Globe has also spent hundreds of thousands of dollars to retain the services of Jones Day, a law firm known for using questionable tactics to break media company unions.

“The work accomplished by the reporters at STAT over the past year was nothing short of extraordinary,” said business reporter and Guild member Janelle Nanos. “They helped drive the national coverage of the pandemic and in so doing, helped shape the conversations about how best to protect the nation. We at the Guild think it’s obvious that they should be afforded the same workplace protections as the Globe newsroom staff.”

“Our union will represent all workers who work as part of Boston Globe Media Partners in order to ensure everyone receives fair compensation for their work, while also improving transparency around employee benefits and building a culture that reflects the diversity, values, and strength of its workers,” said Guild recording secretary and reporter Matt Rocheleau. “STAT workers deserve a collective voice and seat at the table, together we can start collaborating and negotiating for a more equitable workplace.”

Stat’s Sharon Begley dies at 64

By

On January 18, 2021

In Media

Boston loses another first-rate journalist: Sharon Begley of Stat News dies at 64. I remember reading her in Newsweek back when it was a great magazine. She had a long, impressive career.

Stat makes a ‘sensational’ hire, luring Matthew Herper from Forbes

By

On December 7, 2018

In Media

Matthew Herper (via LinkedIn)

Stat, one of Boston Globe owner John Henry’s other media properties, is making a big move. Editor Rick Berke announced today that the health-and-life-sciences news organization is hiring Matthew Herper, a veteran Forbes reporter whom Berke describes as “sensational,” not to mention “supremely talented, versatile and deeply sourced.”

I sometimes describe Henry’s five years of ownership as throwing stuff against the wall to see what will stick. Some ideas, like Crux, launched to cover the Catholic Church, slid onto the floor, though it continues to do well under different ownership. Stat is one of the ideas that has stuck. The project was launched in 2015 with nearly 40 full-time journalists. It’s a bit smaller today (Berke puts the number at around 30), but it appears to be doing reasonably well.

During the past couple of years the emphasis at Stat has been on paid content, a $300-a-year subscription-based model known as Stat Plus. Revenue, Berke told me in an email, is 20 percent ahead of projections. “We’re not breaking even but closer and closer to profitability,” he said. According to Angus Macaulay, Stat’s chief revenue officer, the site is aiming for 10,000 paid subscribers by the end of 2019, and “we’re ahead of that timeline.”

Like Stat, the Globe itself is smaller than it was when Henry first bought it. But Henry continues to invest, if not necessarily on the scale of giving $68 million to Nathan Eovaldi so that he’ll stay with the Red Sox, one of Henry’s other holdings. The Globe is currently restocking its Washington bureau after losing several top people to The Washington Post and The New York Times, Michael Calderone recently reported in Politico. That’s not necessarily where I’d put my money (if I had money). But Globe editor Brian McGrory said at a conference last year that national politics drives readership and paid subscriptions.

In the early days of Stat, there was a lot of coverage aimed at a general audience — and, in fact, stories from Stat still migrate to the Globe on a fairly regular basis. But the paid Stat Plus model means that the site is increasingly targeting health-care professionals. The Herper move sounds like a smart way to appeal to that audience.

The full text of Berke’s message to his staff follows.

I could not be more excited to announce that we have a sensational new colleague: Matthew Herper.

Many of you are familiar with Matt’s work. Over the past 18 years at Forbes, he has distinguished himself as a supremely talented, versatile and deeply sourced reporter with a loyal readership across the health care and science communities. His first cover (with Bob Langreth) was “How the Drug Industry Abandoned Science for Salesmanship.” He went on to write 16 more covers, ranging from a deep look at breakthrough cancer immunotherapies to an early assessment of the potential impact of Bill Gates on vaccine development. This past summer, in one of his most moving recent projects, Matt gave readers an intimate window into the life of Michael Becker, a biotech executive facing end-stage cancer.

Matt also holds the journalistic distinction of having interviewed Elizabeth Holmes and Martin Shkreli on stage the very same day. (That was in their halcyon year.)

For our team of journalistic powerhouses, there is no better recruit. Matt’s interest in revelatory and compelling stories is naturally suited to STAT. He sees himself as writing and reporting from the perspective of a bench scientist, focusing on the researchers who create or study tomorrow’s medicines. He also has a knack for getting some of the most influential names in the life sciences industry to talk with him.

Beyond Matt’s journalistic heft, I see his joining us as a critical step in further ensuring our business success. Presumptuous as it may be, our objective is very clear: to corner the market on smart, must-read journalists writing about health, medicine, and science.

STAT Plus is already growing beyond our projections, and we’re confident that Matt will help us accelerate the expansion of our core business of paying subscribers and sponsors. In addition, Matt will be our point person on the editorial staff as we build out our events business.

Matt’s title will be Senior Writer, Medicine. Like Ed and Damian, he’ll be based in New York. But he has family in the region, and we’ll encourage him to work from HQ as much as he’d like.

Lastly: Matt’s interest in joining us is a testament to our groundbreaking journalism and the business that we have built. One of our biggest draws, he said, is that he’ll get to work with reporters whose work he has admired for years.

“For years, I’ve been saying this is biology’s century,” Matt told me. “Nobody has been covering that giant story better than STAT. I can’t wait to join this amazing team and see what we can do together.”

We can’t wait either. Matt starts in two weeks.

Please welcome our new colleague.

Rick

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Stat is up and Design New England is out: A message from the Globe’s president

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On August 2, 2018

In Media

A source sent this to me a little while ago. It’s a message from Vinay Mehra, the president and chief financial officer of Boston Globe Media. Not a lot of news here. For my money, the most interesting revelations are that Stat, the company’s health and life-sciences vertical, continues to grow, and that Design New England magazine has been discontinued. (Confession: I’m not sure I’ve ever seen an issue.)

For more on the Arc content-management system and the latest on the Globe’s digital subscriptions, see the email interview I did with publisher John Henry last week for WGBH News.

The full text of Mehra’s message follows.

Team,

Happy summer! As we go into the second half of the year, the Senior Leadership Team and I would like to share with you where things stand midpoint of this year. Here are some highlights:

  • The newsroom continues to hit it out of the park. The Spotlight Team was a finalist for the Pulitzer Prize for a series on race that spurred an unprecedented conversation in this region. Our recent TSA piece has made waves nationally. Day in, day out, there is uniquely compelling journalism on our site and print pages, including the launch of the latest reader advocacy initiative, the Help Desk.
  • We continue to invest in the future of the Globe. Our latest investment in our digital future is ARC, our new publishing platform that will result in the redesign of our Globe.com website, and the launch of an ioS and Android Boston Globe app in August. There has been great collaborative work across the company to get to this point, and I am grateful for everyone’s help.
  • We have been disciplined on reducing costs, from ensuring we establish a robust contract management process to more tightly managing expenses, and continue to push ourselves on creating new revenue opportunities and exploring new ways to meet readers where they are, leveraged by our entrepreneurial spirit.
  • While advertising sales continues to experience industry disruption, we are excited about the potential of BG BrandLabs and sponsored content — we have completed 21 customer campaigns since the beginning of the year and have 14 more in our pipeline. Leading companies across the region appreciate and seek out partnerships with us and we will continue to build on that momentum.
  • Subscription revenues are on budget with our digital subscriber base over 94,000, putting us #1 among U.S. major metros in terms of total digital subscription revenue. With Pete [Doucette]’s departure, I have made the decision to conduct a search for a new head of consumer revenues, and I am pleased with the initial results of the search and the caliber of candidates who are interested in the role.
  • After months of negotiation, we have an agreement with the Pressman, Mailers and the Drivers unions. We appreciated the partnership with the bargaining committees and these new contracts give us the flexibility we need to continue to meet the needs of the market and industry.
  • We made the difficult but necessary decision to discontinue publishing Design New England magazine in order to redirect resources into our growth.  This was hard news for our colleagues affected by the change, but we were transparent with the decision making process and explored all options before coming to this decision.
  • STAT, our bold life sciences initiative, continues to see impressive growth – year over year growth in advertising by 59% and growth in subscribers by 308%.

The constant change we are experiencing is what it feels like to be in transformation, and frankly, it will continue. While it is no doubt challenging to navigate in a business as dynamic as ours, I can tell you that we are not alone in this challenge and I believe that our organization will be positioned for success. Since starting at the Globe, I have spent a lot of time out in the field speaking with CEOs in the greater Boston area, familiarizing myself with the unique perspectives within the region and forging relationships that will ultimately allow our organization to help tell the incredible stories of growth, disruption and innovation in our backyard. The good (and bad) news is that I hear the exact same set of challenges in all of these discussions. Everyone, in every industry, is experiencing the very real ups and downs of transformation. The key for us is to stay focused on why we do the work we do, because what I also hear in these conversations is that we, the Globe, are critical to this city.

Success will require that all of us — and particularly the Senior Leadership Team — work across boundaries as one Boston Globe and in harmony with our partners. In the coming month, the Senior Leadership Team and I will be engaging in a strategic planning process to determine our plans for long-term growth.  Expect to hear more from us after some of that work is done.

Finally, I truly believe that each of us must find meaning in our work. The best work happens when you know that it’s not just work, but something that will inform and improve other people’s lives. This is the opportunity that drives each of us at this company.

Thank you for your ongoing support and hard work. I recognize we wouldn’t be where we are without the contributions made by each and every one of you.

Vinay

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Stat, Trump and the ethics of speculating about a president’s health

By

On June 14, 2017

In Media

Click on image for Stat article and playable video.

Is President Trump quite literally losing his mind?

That’s the explosive question that reporter Sharon Begley asked in a recent article published by Stat, a Boston Globe Media-owned website covering health and life sciences. In comparing Trump’s speech patterns today with how he spoke 25 to 30 years ago, Begley and the experts she consulted found a notable slide in his linguistic abilities.

Read the rest at WGBHNews.org. And talk about this post on Facebook.

Stat marks first anniversary by unveiling paid ‘Plus’ service

By

On December 6, 2016

In Media

stat_yt_fanfinder2-1600x900

Also published at WGBHNews.org.

When Boston Globe Media unveiled Stat a year ago, it struck many observers—including me—as wildly ambitious. With more than 50 employees, it was hard to imagine how the health and life-sciences site was going to make money. Gideon Gil, the co-managing editor, told me that Stat would probably start charging for some of its content, but at the time there was no plan beyond gathering data to see how that might work.

Now we’re seeing the next phase. Stat editor Rick Berke, in a letter posted online, has announced a redesign and, far more important, a premium service called Stat Plus, which will cost about $300 a year. According to Lucia Moses of Digiday, the target audience comprises “professionals working in and around the pharma and biotech industries.” The goal is to sign up 10,000 subscribers.

My first thought is: Why so little? As Moses points out, the model for this sort of thing is Politico, whose pro edition starts at $5,000 a year. Individuals aren’t likely to pay for Stat Plus; rather, it’s a business expense. On the other hand, it might make more sense to start at $300 and then add, say, an ultra-premium service later on (Stat Plus Plus?) than to start high and have to cut the price.

The purpose of Stat is two-fold: to offer high-quality journalism in a field in which Boston is a leader, and to make money that can help fund not just Stat but the Boston Globe itself. Stat‘s first year showed that it could accomplish the former. Today’s announcement is an important step toward meeting the second goal.

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