A new report says millennials are flocking to the paid news outlets they snubbed in the past. The impetus, in part, is President Donald J. Trump.
According to a report in Politico, “millennials are subscribing to legacy news publications in record numbers—and at a growth rate, data suggests, far outpacing any other age group.”
The report says that since the election of President Trump in November, there has been an uptick in subscriptions by millennials for publications such as The New Yorker, and for newspapers such as The Washington Post.
As DML News CEO Dennis Michael Lynch pointed out in his Friday evening DML Report, while the media tends to provide negative coverage of the president, they are benefiting financially from his time in office.
“When looking at the stock prices of The New York Times, and the parent companies of CNN and MSNBC, it’s hard to believe they truly hate Trump,” Lynch writes. He went on to explain how much wealth Trump has helped created for the news outlets.
In Politico’s report, they note the following companies are benefiting from news about President Trump:
- The New Yorker’s new millennial subscribers have more than doubled from over the same period a year earlier.
- The Atlantic’s new subscribers raised by 130 percent, for those aged 18-24.
- The Washington Post’s subscriber growth rate is highest among millennials.
- The New York Times is “seeing similar trends” in subscriptions, and public data on digital traffic shows its online millennial reach is up 9 percent.
- The Wall Street Journal has doubled its student subscribers in the last year.
The report indicates that another factor contributing to millennials being willing to pay for news comes from the popularity of paid streaming services, such as Netflix and Spotify, which conditioned them to pay for “higher quality” content.
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