The Washington Post on Friday shared a new name and plans for its soon-to-launch “Third Newsroom.” Now called WP Ventures, the new division will be focused on creating stories that appeal to social media audiences, said Executive Editor Matt Murray, and will be led by WaPo Managing Editor Krissah Thompson.
WP Ventures will include teams dedicated to video, audio, newsletters, “special initiatives, Well + Being and Inspired Life,” Murray said in his Friday memo.
“A core goal of WP Ventures is to strengthen our business by increasing the profitability of our more consumer-oriented coverage and building new products and experiences that drive habit and are worth paying for,” Murray added.
He did not share a launch date for it, but said the company will share more details about its plans in January. Thompson, who has been with WaPo for more than 20 years, was initially tapped to lead the new project in July, when it was still operating under its “Third Newsroom” title.
On Friday, Murray shared that Thompson will be working closely with Samantha Henig, creator of The New York Times’ popular “The Daily” podcast.
Henig will serve as general manager of WP Ventures, where she will bring her “expertise in building journalism products and engaging younger, more diverse audiences” to the role, Murray added. Beyond The Daily, Henig was a digital editor for The New York Times Magazine and has held leadership roles at BuzzFeed. Both Thompson and Henig will report to Murray.
WP Ventures will set up its headquarters on the fourth floor of WaPo’s D.C. office in January, Murray said.
The new division comes as the Post has been looking for non-traditional ways to grow its audience in recent years. Video reporter Dave Jorgenson, for example, has been the face of the paper’s TikTok and YouTube operations for several years; WaPo has 4.5 million followers combined across both of those platforms.
The paper’s new division also comes after WaPo recently saw 250,000 subscribers ditch the paper for its canceled endorsement of Kamala Harris for president.
Murray, in his memo sharing the game plan for WP Ventures on Friday, said the “need to move faster to reach untapped audiences and innovate is urgent, given the broad, and rapid, industry shifts in reader habits and economics.”
