Politico’s B2C and B2B businesses grew revenue by double digits in the first half of 2020, according to CEO Patrick Steel.
In a memo to staff, Steel updated employees on the company’s performance in the first half of 2020, and how Politico has weathered the effects of the COVID-19 pandemic.
The company’s B2C business Audience Solutions and B2B subscription offering Politico Pro have fared particularly well.
Digital revenue on the consumer side also grew significantly, Steel noted, offsetting the revenue loss in key segments, such as events and print, which dipped amid the pandemic.
Politico publisher Robert Allbritton followed up on Steel’s note, informing employees the company is extending its work from home status for at least the remainder of 2020.
“None of us want to work inside of a plexiglass bubble,” he wrote, after outlining the challenges of returning to work in the physical office and maintaining social-distance regulations.
A handful of staff will continue to come in each week to perform essential tasks and duties.
Steel's memo called out a few new products Politico has launched, touting the company’s improvement in developing and rolling out products faster.
Politico recently launched a number of newsletters, including "Politico Nightly," dedicated to COVID-19 coverage, “China Watcher” and “Future Pulse,” focused on the intersection of tech and health.
Politico consolidated the daily editions of some newsletters and transitioned them to a weekly schedule starting July 13.
Politico Pro members will continue to receive daily updates.
Steel also told staff that people of color now make up one-quarter of Politico’s workforce — an increase of more than 70% since 2016. “We know that we can, and must, do better,” he wrote.
This summer, Politico recognized Juneteenth as an official company holiday and updated its newsroom style guide to recognize the word “Black” with capitalization when used in a racial, ethnic or cultural sense.
The company also created new positions focused on Politico’s diversity and inclusion strategy.
Robin Turner took on a new role as director of editorial diversity initiatives. On the business side, Terrell Mizell was promoted to diversity and inclusion (DNI) partner.