A year ago, The Economist placed a big bet on social media. We expanded our editorial social-media team from two to ten people with the aim of delivering our journalism to more globally curious people around the world.
The decline in print advertising — accelerated by the rapid rise of digital media — has prompted us to focus more on building a sustainable subscriptions-based business. We have long believed in the paywall model; that readers should pay for well-researched journalism they can’t get elsewhere. To expand our subscriber base, we need to find new subscribers, which is why we invested in a social-media team.