In 2025, The Philadelphia Inquirer achieved its first year-over-year revenue growth since 2004, posting an operating profit of several million dollars while deriving approximately 70% of its revenue from readers through subscriptions and other consumer payments.
The results, highlighted Monday by Inquirer publisher and CEO, mark a significant turnaround for the 195-year-old newspaper, which has been owned since 2019 by the nonprofit Lenfest Institute for Journalism. The piece described the financial performance as evidence that a reader-supported model—bolstered by high-quality local journalism—can sustain legacy media amid industry-wide challenges.
The Inquirer's growth has been driven by efforts to deepen community ties, with a newsroom of about 200 journalists producing innovative, in-depth local coverage. Recent initiatives, such as aggressive digital subscription promotions and a focus on high-engagement verticals like sports and food, have helped fuel subscriber increases—reportedly more than doubling in recent years in some analyses.
This reader-funded stability contrasts with broader struggles in the newspaper industry, where many outlets face declining print circulation, ad revenue erosion, and layoffs. The Inquirer's nonprofit ownership structure, established by the late philanthropist Gerry Lenfest, has provided flexibility to prioritize journalism over short-term profits, including innovative tax arrangements that separate the for-profit operating entity from its nonprofit parent.
The 2025 results position the Inquirer as a potential model for other regional papers facing similar pressures, demonstrating that investments in quality reporting and smart subscription tactics can yield both financial health and editorial impact.