ThinkProgress is a particularly terrible site. I don’t mind partisanship and won’t pretend that RedState isn’t ideologically bent. But there’s a difference between being an opinion site and just making things up. ThinkProgress regularly traffics in the latter and they are essentially a mouthpiece for the Clinton wing of the party, having feuded with the Bernie Sanders contingent in the past.
Take this headline from today, for example.
Yeah, well except Sen. Hawley didn’t say that at all and Congress is not “studying history” by bringing in and irrelevant grifter like John Dean to riff about Watergate.
To make it worse, ThinkProgress then tried to call Hawley a hypocrite because he talked about honoring the sacrifice of D-Day veterans last week. You see, he does care about history when it suits him! Got heem!
That’s the kind of dumpster fire product that ThinkProgress publishes every day. They are like the Infowars of the left, but less entertaining.
Well, news broke today that their business model isn’t working out for them anymore. They are facing a large shortfall and risk having to close up shop in the future.
ThinkProgress, the website that is a project of the Democratic Party’s primary think tank, is facing dire financial troubles and bleeding staff, according to primary-source documents viewed by The Daily Beast.
A budget document provided to ThinkProgress management and obtained by The Daily Beast showed that the website was expecting a roughly $3 million gulf between revenue and expenses for 2019. ThinkProgress has never been a revenue generator, and has often made up for its deficits through fundraising efforts and funds from its mothership entity, the Center for American Progress (CAP). But the current outlook is significantly worse than ever before.
In other words, ThinkProgress is your typical left wing scam. They can’t actually produce enough money to sustain themselves, so they’ve relied on liberal donors ponying money up via a Super PAC.
According to the document, advertising revenue is projected to fall $350,000 short of what was budgeted this year, and online contributions are expected to fall short by nearly $180,000. The site is projected to have about $64,000 in grant revenue (money derived from donations to CAP and meant for coverage by ThinkProgress) in 2019. That’s roughly $60,000 short of what it had budgeted for the year and roughly $540,000 less than it received in 2018.
Those aren’t sustainable numbers and more layoffs are coming. How do you go broke in the age of Trump as a media company? I don’t know, but ThinkProgress has figured it out.
According to a source at ThinkProgress, the site is already in a state of “slow attrition.” Four people, the source said, have left this year. Culp-Ressler’s announced departure makes five, though she remains on staff at the moment. A source said the number is expected to drop further by the end of the second quarter.
ThinkProgress is of course unionized, which means it’ll probably end up a smoking hole before too long. No amount of bargaining or socialist virtue signaling is going to keep the lights on if the money isn’t there and right now, the money isn’t there.
Perhaps some liberal sugar-daddy will swoop in and save them the way other liberal outlets have been rescued. Here’s a better idea though. How about producing material people actually want to read? Crazy, I know.
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Source: Texas ‘Red State’ Right News