Under CEO Anna Bateson, The Guardian Is Quietly Thriving

Few publishers are quite so distinct as The Guardian. The news organization, originally founded in 1821, is wholly owned by a financial trust, levies a "nagwall" to encourage reader support, refuses to work with oil and gas advertisers, and caters to a global audience distributed equally across three continents. In an industry plagued by risk aversion, The Guardian has been rewarded for its originality. And under the tenure of chief executive Anna Bateson, it has become a remarkable, rare success story. It attributes the achievement, in part, to this sui generis approach. The company, whose financial year ends in April, turned a profit of $15 million in 2022 on global revenues of $322 million, and it has used the growth to fuel its expansion in the U.S. In 2023, it generated $333 million in revenue and grew its U.S. head count by 35%, adding more than 50 staffers for a total of 159. The investment in its U.S. business, along with a softening ad market, took The Guardian into the red in 2023, with overall revenues down 5% compared to the year prior. But Bateson, who previously worked at The Guardian from 2016 to 2020, sees the American market and its broader international ambitions as vital to the next stage of its growth. “Enabling The Guardian to function more effectively as a global organization is a key focus for us,” Bateson said. “It is a challenging task, but it gives us a key point of differentiation, and I believe there is huge room for growth for us in the U.S.” The publisher, through its "Not for Sale" campaign, has used its unique ownership status to appeal to both readers and advertisers in the U.S. Backed by an endowment established in 1936, The Guardian has been able to take a principled stand in its commercial strategy, such as its decision last year not to accept advertising from sports gambling operations. In 2023, it also improved its B Corp certification score, reduced its greenhouse gas emissions by 30% and became one of the first publishers to conduct a biodiversity audit to assess its impact on nature. How The Guardian US Fetched Ad Revenue Hike of 42% Despite Broader Downturn These moral convictions have, in tandem, helped the publisher grow its reader revenue business, which now counts more than 1 million paying digital supporters globally. Reader revenue surpassed advertising in 2020 as the largest source of revenue for The Guardian U.S., and voluntary donations from more than 250,000 American supporters are expected to generate $33 million in its next financial year. This moral identity has also enabled The Guardian to pitch itself to advertisers as a vehicle for connecting with a passionate, progressive audience, helping it woo budgets from electric vehicle makers, for example. Under Bateson, the company plans to lean further into these premium advertising efforts. In 2022, Bateson hired two Americans—managing director Steve Sachs and editor Betsy Reed—to oversee The Guardian U.S., and last year it rolled out new editorial offerings in soccer, wellness and investigative reporting, expanding the scope of brands it can work with. “We stand by these convictions, even if they cost us money in the short term,” Bateson said, “because in the long term, it opens us up to advertisers that want to attach themselves to integrity and our values.” Despite these commercial tailwinds, Bateson, who was named chief executive in August 2022, has navigated some challenges during her tenure. Her predecessor, Annette Thomas, left the role after just 15 months, thrusting Bateson into a quick succession. And just four months into her role, The Guardian fell victim to a ransomware attack in December 2022 that compromised personal information and forced staff to work remotely. These trials, along with the broader challenge of transforming The Guardian into a global news powerhouse, have impressed upon Bateson the importance of surrounding herself with top talent. “I’ve certainly come to appreciate that leadership is about what sort of people you can assemble as your team,” Bateson said. “How do you bring an extraordinary, diverse, inspiring group of people together? That is the job in many ways.”Check out the full Hot List here. Correction: This article has been updated to reflect that The Guardian added 50 staffers in 2023, not 150.

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Under CEO Anna Bateson, The Guardian Is Quietly Thriving

ADWEEK’s Media Executive of the Year has found unusual success with an unusual model

Mark Stenberg

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