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Nonprofit newsroom The Baltimore Banner will bring in more than $13 million in revenue in 2024, a year-over-year increase of 37% for the startup publisher.
The news outlet, which launched in June 2022 with $50 million in backing from businessman Stewart W. Bainum, generates revenue from three primary sources: subscriptions (45%), advertising (35%), and philanthropy (22%).
This year, the Banner has seen particularly robust growth in its subscriptions and philanthropy businesses, according to chief executive Bob Cohn.
Subscriber count grew more than 50% in 2024, going from 36,000 to nearly 55,000 by the end of the year.
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