The Baltimore Banner, a nonprofit news organization, closed out 2024 with remarkable achievements, positioning itself as a model for sustainable local journalism in 2025. With 55,000 paid subscribers, a rapidly growing newsroom and diversified revenue streams, The Banner proves that innovation and community focus can drive success. Editor & Publisher (E&P) spoke with CEO Bob Cohn and Chief Revenue Officer Sharon Nevins to explore their strategies and vision for the year ahead.
Strong subscriber growth sets the stage for 2025
Closing out 2024 with 55,000 paid subscribers and a 50% year-over-year increase, The Baltimore Banner demonstrated its ability to engage and retain a loyal audience. CEO Bob Cohn attributed this success to high-quality journalism and strategic marketing. “We finished the year at about 55,000 paid subscribers, which was a hair more than 50% year-over-year growth,” Cohn explained. “It just comes on the back of trying to do the best journalism we can do and filling a gap in Baltimore and all of Maryland.”
The subscription growth reflects a broader hunger for trustworthy local news, a demand the Banner continues to meet by addressing the state’s many news deserts.
Newsroom expansion fuels deeper coverage
With 13 newsroom hires since September, bringing the total to 85 journalists, The Baltimore Banner has established itself as the largest news organization in Maryland. This growth has broadened the organization’s coverage, particularly in underserved areas. “Baltimore is the soul of our journalism, but we are committed to serving all of Maryland,” Cohn said. “Our expansion reflects our mission to fill news deserts statewide.”
By focusing on Baltimore and extending into surrounding counties such as Anne Arundel and Howard, the Banner is working to become Maryland’s primary news source.
Diversifying revenue streams to sustain growth
While subscriptions are a cornerstone of The Baltimore Banner’s revenue, its diversification into advertising, events and philanthropy has been equally crucial to its sustainability. “We’ve positioned ourselves as a full-service agency for our clients,” said Sharon Nevins, who oversees advertising and event revenue. “The brand alignment with our storytelling is proving to be quite beneficial for advertisers, and our event revenue is flourishing.”
Nevins highlighted the growing importance of events in the organization’s revenue mix, noting, “Events allow sponsors to have one-on-one interactions with key players in the community. It’s a feature that sets us apart and fulfills an important need.” This diversified approach ensures The Banner remains resilient in a rapidly changing media landscape.
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Balancing nonprofit values with business goals
The Baltimore Banner’s nonprofit status provides a vital foundation for its mission-driven journalism, but its operations are run with a business mindset. “We run the place as if it’s a for-profit, aiming to close the gap between revenue and expenses,” Cohn explained. “It’s essential to have a commercial-minded approach while staying true to our civic mission.”
This balanced strategy, which Cohn described as having “a nonprofit heart but a for-profit brain,” allows the organization to deliver impactful journalism while ensuring financial sustainability.
A bold vision for 2025
As the new year begins, The Baltimore Banner aims to build on its 2024 successes by strengthening its presence in Baltimore and expanding its reach across Maryland. “We finished 2024 about 36% up on revenue year-over-year,” Cohn said. “In 2025, we aim to strengthen our presence in Baltimore and expand further into Maryland's news deserts.”
Nevins emphasized that the organization's hyper-local focus will remain a cornerstone of its strategy. "Our advertising approach reflects our content — focused on local businesses and helping them shine," she said.
Leading the charge for local journalism
The Baltimore Banner’s achievements demonstrate the power of innovative strategies and community-focused journalism. As the organization enters 2025, its continued success offers valuable lessons for other news publishers navigating the evolving media landscape.
“We have a nonprofit heart but a for-profit brain. It’s a model that works,” Cohn said, summing up The Banner’s approach to sustainable growth.
Looking ahead
The Baltimore Banner’s journey is one of resilience, innovation and commitment to its community. As 2025 unfolds, the organization's progress will inspire and guide the news industry, setting an example for the future of local journalism.
Stay tuned as E&P revisits this evolving story later in the year.
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