Axios Local Grows Presence Across U-S

It’s been less than six months since Axios entered the local news business. But chief executive Jim VandeHei has seen enough in that time to convince him that he is on to something.

Between them, Axios Local’s six newsletters – focused on Charlotte, Denver, Twin Cities, Tampa Bay, Des Moines and Northwest Arkansas – have around 400,000 free subscribers and are said to be on course to generate $4-5m in revenue this year.

Axios is now recruiting journalists to launch eight new local editions. Next year, VandeHei would like to see Axios Local in 50 cities. And his ambitions don’t end there.

“I think ideally we get to 50,” he tells Press Gazette in a phone interview. “I think it works in at least 100 cities – and hopefully many more.

“I think the trick is going to be, how do you get that cost-revenue formula right once you get to smaller cities and smaller towns?

“There’s no doubt in the 50-100 biggest markets that there are more than enough readers on a daily basis to make it a very viable product funded by advertising.

“Once you get to smaller communities, I hope that’s the case. I believe that’s the case. And, at some point, we’ll test that there’s a very viable model there as well.”

In the longer term, VandeHei believes the Axios Local business could work outside of the United States.

“I think the fundamental principles that work here would work in any local community. People care about what’s happening with politics or business or technology, or what you should do and see, in any city or town that they live in. So I think that is applicable globally.”