Journalism 2.

0: The Case
of the Huffington Post 9

The online news platform Huffington Post was launched by Arianna Huffington,
Jonah Peretti, and Kenneth Lerer in May 2005. At that time, two trends dominated
the newspaper industry: declining revenues from subscriptions and advertising, as
well as a blurring distinction between the different media domains. For traditional
newspapers, these changes implied a need to respond by migrating to the internet.
Newspapers evidently competed for customers with other news sources in form of
radio, television and magazines. Yet this was not a new and not a very threatening
competition. The internet, however, strongly pointed towards the emergence of a
new business model in the news and media industry, endangering traditional media
providers.
The classical business model of print newspapers did not change much since the
mid-nineteenth-century and was based on two pillars, journalistic content provision
and advertisement commercialization. As Huffington Post’s business model was
also financed through advertising, it did not significantly vary from traditional
newspapers on this point. However, compared to traditional newspapers such as
the New York Times doing investigative journalism, the Huffington Post
aggregated news from different sources, and provided a platform for unheard
voices. All of this was done on the internet—and readers were granted content
access for free.
Since the 1990s, leading newspapers also began their expansion on the internet.
According to Riley et al. (1998), half a dozen major U.S. newspapers and about a
dozen smaller ones offered internet content in the early 1990s. This number
increased to 1,520 at the end of 2004 (Veglis 2007). For instance, in 1995, USA
Today and in the following year the New York Times went online. However,
incumbent newspapers did not effectively exploit the opportunity of interactivity
offered by the internet, using their websites only to mirror and reproduce already
printed content. This did not change much after the turn of the millennium, as
shown in a study conducted by Rosenberry (2005). Journalists had little interest to
interact with readers, and were rather stupefied about readers starting online

# Springer International Publishing Switzerland 2017 95

K.-I. Voigt et al., Business Model Pioneers, Management for Professionals,
DOI 10.1007/978-3-319-38845-8_9
96 9 Journalism 2.0: The Case of the Huffington Post

discussions. And this attitude was diametrically opposed from the one of
Huffington Post.
In its early days, Huffington Post was envisaged as a liberal alternative to the
competitive republican Drudge Report. The Drudge Report, launched by Mart
Druge in 1997, is a news and commentary aggregation website. Besides original
reporting, the Drudge Report links news stories and columns from other online
sources. In comparison to Huffington Post, the Drudge Report has lost much of its
significance since 2009, as it emerged that some of its news-reports were
misleading (Taylor 2015). Moreover, the Drudge Report’s business model was
much more traditional, as it did not employ interaction and a personal blogosphere,
key elements of Huffington Post’s later success.
Further online news aggregator platforms with human editors were American
Online (AOL) or Yahoo News. AOL reconfigured the traditional value proposition
of news providers, offering an online news channel, which enabled readers to
customize the information they wanted. Computer algorithms also began to replace
human editors, exemplary in this regard being Google News, launched in
September 2002. Its algorithms enabled search users to look up any subject and
to receive news results from more than 10,000 news sources. Due to the absence of
human influencing factors, Google News offered unbiased information, operating
as a fully automated news service.
In 2003, a few news providers such as the Washington Monthly or the Slate
Magazine began to hire bloggers to write for their websites. Still, a year later,
blogging was not very popular, as over 60 % of Americans with internet access did
not know what a blog was (Rainie 2005). News providers also did not really believe
that money was to be made through the content created by bloggers. Before the
launch of the Huffington Post in 2005, bloggers were not taken seriously. However,
the Huffington Post ventured to base its business model on the blogger community,
disproving former industry assumptions.
The business model of the Huffington Post was fueled by the 2004 presidential
election. Since the platform started as a political blog by aggregating news and
providing a place for discussion, it built its business model by bringing together and
bringing forward political blogs. Although there were other news aggregators on
the market, such as the Drudge Report or Google News, the Huffington Post
disrupted the online newspaper industry by exploiting the internet’s interaction
possibilities and offering a community-based news source. The Huffington Post
contradicted the industry assumptions, as it became the most widely read indepen-
dent news website during the following presidential election of 2008. As noted by
Glaeser (2014), the platform tried and succeeded in disrupting the classical “one-to-
many” communication principle. The Huffington Post understood the power of
interactive internet and the importance of political blogging, and founded an
original business model exploiting these trends.
9.2 Market Demand 97

9.1 Founders

According to the founding story, Arianna Huffington and her friend Kenneth Lerer
came up with the idea while discussing the power of the internet during the
presidential race of 2004. Arianna Huffington, the daughter of a Greek newspaper-
man, received her Master’s degree in economics from Cambridge in 1972, after
which she moved to the U.S. Huffington gained national prominence after
campaigning for her husband during the U.S. Senate election of 1994. Afterwards,
she worked as a political and social commentator. Her passion for debating and her
interest in politics, coupled with a keen understanding of the internet’s power, led
her to start an own political blog. Before launching the Huffington Post, Arianna
Huffington hosted two political websites, [Link] and [Link].
She has a good sense for connecting with people and networking, a trait also
reflected in Huffington Post’s business model: to bring in new voices and to provide
a platform for discussion. Huffington is also perceived as gregarious, effusive and
innately social, with complementing personality traits as her co-founder Kenneth
Lerer.
Kenneth Lerer is often described as reserved, private and cerebral. After
dropping out of college in order to work as campaign manager in the Senate
election of 1974, he started freelancing with an own PR firm in 1986. With expertise
in creating and marketing brands, he also had a good sense of timing the launch of
the Huffington Post. After having played a pivotal role in the development of the
company, Lerer left in 2011, in result of Huffington Post’s merger with AOL.
Jonah Peretti, the computer wizard from the three entrepreneurs, received a
postgraduate degree of the MIT Media Lab and became well known for creating
viral internet content—content, which is innately interesting or fun, hereby achiev-
ing a high number of viewers/readers in a short time-span. His initial success made
him guest of several U.S. talk shows and finally led to his collaboration with
Huffington and Lerer. He left the Huffington Post in 2011 to concentrate on his
company BuzzFeed, an online platform for distributing and sharing entertainment
content and journalism, which since has become one of Huffington Posts’ main
competitors.

9.2 Market Demand

Between 2001 and 2010, the Pew Research Center conducted a study on U.S. news
consumption. The findings show that a surging number of citizens were using the
internet as an information source, their proportion increasing by almost 80 %
between 2002 and 2004, from 14 to 24 %. On the other hand, while half of the
population read print newspapers in 2003, the numbers decreased to 36 % as soon as
2005. According to a further study, in 2004, almost half of all 18–34-year-olds used
internet portals like [Link] or [Link] as daily news sources (Brown 2006). In
comparison, only 19 % of the same age group relied on newspapers. In 2004, the
98 9 Journalism 2.0: The Case of the Huffington Post

golden era of print newspapers ended, as these became the least preferred news
source among younger U.S. citizens.
The decline of print equaled the rise of internet news. The market demand for the
latter was facilitated by its increasing speed and reinforced by generational change
and perceived time scarcity. Younger generations not only expected higher trans-
parency on behalf of news providers, but also a chance to personally become
engaged in the news making process. Although U.S. newspapers were beginning
to understand this, online interaction with readers was not part of their agenda. Yet
this was detrimental. Even the media mogul Rupert Murdoch emphasized in 2005
that consumers wanted larger online communities for talking, questioning and
debating. This brings to light an unmet market demand for interactivity and
media co-creation. By establishing a news platform based on blogging and news
aggregation, the Huffington Post responded fast to this emerging demand, enabling
consumers to become active partakers, rather than passive spectators.

9.3 Pioneer Business Model

The following describes the business model of the Huffington Post at the time of its
launch in 2005, as also illustrated in Fig. 9.1.

Community and News aggrega on Online news Readers

network of readers and and edi ng pla orm with high Close customer
bloggers readership rela ons through Bloggers
Establishing a strong engagement: news co-crea on
Arianna Huffington’s community of Adver sers
connec ng news,
network of well- readers and reader opinions, and
renowned marke ng contributors expert comments
partners
Crea on of original
content

Marke ng and
building the brand

Website as core of Direct, own channel

the business model via the Huffington
Post website

Cost-driven cost structure Adver sing revenues

Cost savings by aggrega ng news from other websites

and content crea on by users and unpaid bloggers

Fig. 9.1 Overview of the Huffington Post business model at the time of the company’s launch.
Source: own illustration, based on Osterwalder and Pigneur (2010)
9.3 Pioneer Business Model 99

Value Proposition The Huffington Post was designed as an engagement platform,

closely connecting news, reader opinions and expert comments. In comparison to
the traditional business model of newspapers, the Huffington Post imagined news as
a shared undertaking between producers and consumers. Offering community-
powered news stories and providing a platform for discussion, the Huffington
Post changed the news production principle, redefining the relationship between
readers and journalists. Readers became journalists.

Key Activities The platform’s key activity was to aggregate and publish blog posts
from unpaid contributors, and excerpts of stories published elsewhere. Building a
community of content providers was pivotal, and so was editing community-based-
content in real time. Besides news aggregation and hyperlinking to other websites,
the Huffington Post editors also created original content. Platform optimization was
a further key activity: in order to increase traffic, Peretti put significant effort into
the technologies, and into finding out what viewers prefer to read and to share.

Key Resources A starting capital of about $ 1 million was needed for getting the
business running, and was raised by Lerer and Huffington. The website undoubt-
edly acted as the key resource, as it concentrated the entire business model of the
company. It provided a stage for the voices of bloggers and commentators, for
content creation and content distribution. In order to make all of this possible, half a
dozen site administrators and an editorial staff team were involved.

Key Partners The most important partner of the Huffington Post was the commu-
nity itself, with readers and bloggers acting as both customers and suppliers of news
stories. The young business relied on its community in two ways. On the one hand,
the community created content and responded to content at no cost. On the other
hand, each article had its own target readership, diversifying the audience and
hereby increasing the survival chances of the platform. Another success factor
lied in the positive media endorsement made possible by Arianna Huffington’s
personal network of celebrities, who actively promoted the start-up.

Customer Segments The platform brought together well-known bloggers with

previously unpublished ones and with highly engaged readers and commentators.
By starting a news business converging towards politics, the Huffington Post
mainly attracted politically interested readers and bloggers. However, Arianna
Huffington once mentioned that she wanted to reach as many people as possible,
rather than to focus on any particular niche group, which explains the later content
diversification. As neither readers were paying for the content provided, nor
bloggers were paying for being featured on the website, advertisers formed the
third customer segment—and the only one, which brought in revenues.

Customer Relationships The nature of the business model itself lead to a strong
community feeling among readers and contributors, as these roles were constantly
100 9 Journalism 2.0: The Case of the Huffington Post

shifting. A single person was able to act as reader, blogger, or post commentator,
hereby becoming strongly engaged with the platform and its content.

Channels The company’s value proposition made the internet not only a perfect
channel, but in fact the only possible one. Without the internet, the options for
interaction with readers would have remained antiquated. Additionally, the
internet allowed content to be updated several times daily, ensuring instant access
to the newest available content.

Revenue Streams The Huffington Post generated revenues through advertising.

The company rejected the idea of subscriptions and content paid individually and
hereby solely based its revenue model on revenue streams through advertisements.

Cost Structure The company enjoyed low entry barriers and hereby low initial
costs. Content creation through blogging required, in its simplest form, solely a
computer with internet access. Whereas incumbent news providers such as the
New York Times and the Washington Post were employing several hundred edito-
rial employees, the Huffington Post created a hyperlinking model, in which it
benefited from this work, without shouldering any costs itself (Alterman 2008).
The company has indeed been criticized of free riding, as it created a revenue
stream for itself based on content from other news sources, for which it did not pay.
Moreover, it employed a further mechanism for keeping costs low, namely pub-
lishing content created by unpaid bloggers. These choices led to the creation of a
sharply cost-driven cost structure, and ensured the company’s survival in its initial
years.

9.4 Current Business Model

During the course of the past decade, the business model of the Huffington Post
mainly developed due to the company’s growth strategy, resulting from Arianna
Huffington’s vision for it to become a global media brand. Figure 9.2 comprises the
main changes in the business model, which will be further discussed in the
following. Figure 9.3 comprises an overview of the current business model of the
Huffington Post.

Value Proposition In the meantime, the Huffington Post has expanded its news
reach from politics to more varied fields. The platform became a general news
provider, which combines professional, in-house news with a platform for
blogging. Its topics range from news on economics to culture, entertainment,
comedy and fashion.

Key Activities Enlarging its community, binding readers, and making the website
more attractive for advertisers are key activities of the Huffington Post today. For
9.4 Current Business Model 101

instance, the company established a user recognition system called HuffPost

Badges in 2010, to increase the number of contributors. A year before, in 2009,
HuffPost Social News was launched, which enabled an expansion into the
Facebook community and hereby increased the website’s appeal to advertisers.
The Huffington Post also launched several apps, alongside with HuffPost Live, a
web-based video-streaming network with daily live programs. HuffPost Live
follows the same principles as Huffington Post, offering listeners the possibility
to effortlessly post their thoughts on the news content, which supports reader
loyalty and allows the company to obtain direct feedback. By placing its users at
the heart of the platform, HuffPost Live is talking with users, not to them, hereby
setting a new standard for social video discussions. Besides news aggregation, the
Huffington Post still produces own original content, for which it won the Pulitzer
Prize in 2012. To reinforce own content production, an in-house news service was
established, supporting original reporting and investigative journalism. To enlarge
the community, the Huffington Post started local versions of its website in the
U.S. in 2008, as well as versions outside the U.S. from 2011.

Key Resources As in 2005, the team of bloggers and the editorial staff remain the
company’s key resources, beside the platform itself. The editorial staff increased up
to 800 salaried editors and a team of up to 90,000 unpaid bloggers.

Key Partners Over the years, the company initiated several B2B partnerships.
The collaboration with Facebook complements partnerships with international
media companies, ensuring access to new markets and to the best journalists outside
the U.S. Examples range from the partnership with Le Monde Group and Les
Nouvelles Editions Indépendante in France, El Pais in Spain, Gruppo Editoriale
L’Espresso in Italy, or Tomorrow Focus in Germany.

Customer Segments The company succeeded in enlarging its community across

the Atlantic and the Pacific, with subsidiaries in Spain, Italy, France, Great Britain,
Germany and Japan.

Customer Relationships By continuously improving its options for interaction

and content co-creation, Huffington Post managed to maintain a highly involved
community of readers, bloggers and guest authors.

Channels As mentioned in the key activities section, Huffington Post has enlarged
its channels via HuffPost Live or HuffPost Social News, while still pursuing an
online-only strategy.

Revenue Streams In 2010, the Huffington Post was in the black for the first time
since its foundation five years before. Although the company does not publish
financial data, experts estimate its revenue in 2014 at about 200 million US $,
leading to a presumed net loss (Bercovici 2015; Pompeo 2014b), which results from
the company’s international expansion strategy. In order to strengthen its revenue
102 9 Journalism 2.0: The Case of the Huffington Post

KA: KA:
Launch of Launch of Launch of KA & CoS:
the several local HuffPost Badges KA, Cos & CH: Launch of an
Huffington versions in the and start of Launch of in-house
Post 2006 U.S. 2009 na ve adver sing 2011 HuffPost Live 2013 news service

2005 VP: 2008 2010 KA & CS: 2012 KA: 2015

KA:
Introduc on Launch of Market Launch of
of non- HuffPost Social expansion HuffPost Partner
poli cal News outside the U.S. Studio and
sec ons release of
KP: KP: mobile apps
Partnership with Local media
Facebook companies

Key
CH: Channels; Cos: Cost structure; CS: Customer segments;
KA: Key ac vi es; KP: Key partners; VP: Value proposi on

Fig. 9.2 Main changes in Huffington Post’s business model across time. Source: own illustration

mechanisms and allow the international expansion, the Huffington Post experi-
ments since 2010 with native advertising. Hereby, advertisers create or sponsor
content intended to blend in with the editorial content.

Cost Structure Although bloggers still contribute through unpaid content, the
launch of HuffPost Live and the international editions of the website resulted in
considerable cost blocks, also due to increasing numbers of editorial staff. A further
cost block remained comparably constant, as the company still pays subscription
fees for news wires such as Reuters. However, some contracts with news agencies
ended due to financial considerations, such as the one with Associated Press in
2014. By doing so, Huffington Post is able to save millions of dollars in fees and to
gain increased control over its content (Fig. 9.3).

9.5 Industry Outline and Future Perspectives

Blodget (2010) and Tierney (2014) refer to Huffington Post’s business model as an
example of disruptive innovation that introduced social media in the newspaper
industry. By providing a free and unpretentious news service, the company entered
the low end of the market with a simpler, cheaper and at least just as convenient
service as incumbent news providers. Like other disruptive innovations from
various industries, the Huffington Post strives to improve and move upwards
towards the middle and high-end news market.
9.5 Industry Outline and Future Perspectives 103

Community and News aggrega on Online news Readers

network of readers and edi ng pla orm with high Close customer
and bloggers readership rela ons through Bloggers
Crea on of original engagement: news co-crea on
Arianna content in non- Adver sers
connec ng news,
Huffington’s poli cal sec ons reader opinions,
network of well- and expert
renowned Enlarging the
community (HuffPost comments
marke ng
partners Social News, launch
of mobile apps) and
Newswires binding readers (e.g.,
HuffPost Badges)
Media companies
and social media Na ve adver sing
partners such as and launch of
Facebook HuffPost Partner
Studio

Developing video
content (HuffPost
Live)

Website as core of Direct, own channel

the business model via
the Huffington Post
website alongside
with addi onal
channels, such as
HuffPost Live
HuffPost Partner
Studio

Cost-driven cost structure Adver sing revenues

Cost savings by aggrega ng news from other

websites and content crea on by users and unpaid
bloggers

Increasing costs due to interna onal expansion

Subscrip on fees to news wires

Fig. 9.3 Overview of the Huffington Post’s current business model (the aspects highlighted in
grey did not undergo major changes across time). Source: own illustration, based on Osterwalder
and Pigneur (2010)

According to a survey of the e-business guide eBizMBA, in 2015 the Huffington

Post ranked number one among U.S. politics-oriented websites regarding monthly
visitors, leaving behind competitors such as The Blaze or Drudge Report. Yet
among Huffington Post’s competitors, one can also find giants such as Google,
acting as news aggregators. Google News hereby remains, since the market launch
of Huffington Post, a considerable threat. More surprisingly, BuzzFeed, founded in
104 9 Journalism 2.0: The Case of the Huffington Post

2006 by Huffington Post co-founder Jonah Peretti, competes for the newsreaders’
attention. BuzzFeed was initially designed as an entertaining social site, yet devel-
oped in the past decade to a genuine news organization, embracing social media in a
similar manner to Huffington Post. The microblogging service Twitter is a further
example, providing immediate access to information created by loosely organized
groups of people. The service has shown its significance in informing the world on
social phenomena such as the Arab Spring or the Ukrainian revolution of 2013. This
however signals Twitter’s appropriateness to a rather different news approach than
that envisioned by the Huffington Post.
Table 9.1 visualizes the number of unique visitors of the Huffington Post and of
several of its U.S. competitors in April 2014 and April 2015, quantified by the
digital performance measurement platform Compete. Regarding monthly visitors,
the Huffington Post is preceded only by Twitter in both years. However, the
Huffington Post’s number of unique visitors in the U.S. declined by 4.9 % in the
same timeframe. The Blaze and Drudge Report respectively lost even more than
one fifth and nearly half of monthly visitors. At the same time, Techmeme’s visitor
number grew by five times, BuzzFeed more than doubled, and Twitter nearly
doubled its visitor numbers. As the Huffington Post’s business success depends
on the number of visitors and contributors, new hip platforms may erode its market
position, as Table 9.1 indicates.
For the readers of the above-mentioned websites, as well as for those of many
others in the digital news industry, switching costs are practically close to zero.
While this is beneficial for readers, news websites have to be prepared for sudden
shifts in customer numbers. This is mainly because the platforms are not based on a
subscription revenue model, and do not require registration on behalf of readers.
This trend of high fluctuations is also likely to increase in the future. The Huffington
Post hereby shows creativity in its efforts to bind readers, for instance through
HuffPost Live or through its collaboration with Facebook. Yet Facebook is not only
a partner, but may evolve into a powerful competitor, through its social news
aggregator, FB Newswire. Currently, FB Newswire is powered by the social
news agency Storyful, which aggregates and provides first-hand social news from

Table 9.1 Direct comparison of the Huffington Post and its competitors
Unique visitors in the Unique visitors in the Variation
U.S. (April 2014) U.S. (April 2015) in %
The Huffington 45,573,031 43,352,920 –4.9
Post
The Blaze 7,007,838 5,523,607 –21.2
Drudge Report 4,117,547 2,199,607 –46.6
Google News 5,764,001 10,588,999 +183.7
Techmeme 38,848 199,006 +512.3
BuzzFeed 11,301,587 30,223,155 +267.4
Twitter 45,808,732 89,199,387 +194.7
Source: own illustration, based on Compete (2015a–f)
References 105

Facebook to journalists. If FB Newswire chooses to change its target customers,

and primarily address news readers, it has the potential to become a threat for
Huffington Post, particularly due to its much larger user base. Moreover, if FB
Newswire will expand its sources for newsworthy content outside the Facebook
community, it has the competitive potential to become the platform of choice for
news consumption.
All of this shows the incredible speed at which customers are gained, and lost, in
the world of digital news media. For Huffington Post, this is a signal that it has to
permanently keep track of the fast-paced shifts in customer demand, intensified by
other popular platforms and services.

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