Axios Local slows its rapid expansion after missing revenue goals

The nationwide network of free, local newsletters from Axios, called Axios Local, has slowed its rapid expansion, citing the need to grow its existing readership and monetization capabilities before launching into new markets, according to a person familiar with the matter.

After Axios Local launches in San Diego in July, its sixth new market of the year and 30th overall, it will not expand any further in 2023 and is still determining whether it will enter any new markets in 2024, Axios’ chief business officer Fabricio Drummond confirmed.

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