Political website New Matilda to close, hit by tight ad market

New Matilda, the website that launched in 2004 positioned to provide Australians with intelligent coverage of news, analysis and satire, has announced that it will shut down on June 25.  

In a letter published on the website by editor Marni Cordell, readers were told “we’ve run out of money”.

She blamed a large part of its failure to break even by this year, to the “difficulty of selling online advertising in the current media environment”.

In February 2007 Duncan Turpie bought the site which was operating at a significant loss. It was that year they made the decision to scrap subscriptions to boost readership in a bid to increase its advertising revenue.

But Cordell said that while traffic to the site has grown over the past three years, the ad dollars haven’t followed.

She said:

Moreover, as the site has increased in popularity, so have our running costs.

Ironically, it’s at the time of’s greatest success that we are making this sad announcement.”

The site was established by John Menadue, a former private secretary to Gough Whitlam, in August 2004.

Update: According to Nielsen Market Intelligence, in April New Matilda averaged just over 1500 domestic daily unique browsers, and just over 120,000 monthly page impressions.


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