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Technology publisher The Information has hired Matthew Resnick, the former chief operating officer (COO) of Morning Brew, as COO tasked with growing consumer revenue and branded partnerships business.
The publisher has parted ways with its first-ever chief commercial officer, Karl Wells, who started at the company last August, according to an internal memo whose contents were shared with Adweek.
Resnick will oversee many of the same responsibilities as Wells.
A representative for The Information confirmed the news.
It’s the latest executive shake-up at the publisher in key senior roles related to consumer revenue and comes as The Information approaches its 10-year anniversary in December.
The publisher has distinguished itself through its independent ownership and its dedication to a subscription-based business model.
But while its focus on subscriptions has shielded it from the vicissitudes of the broader advertising market, the strategy has also limited its ability to scale revenue and increased the pressure on its consumer revenue operation, according to people familiar with its business.
Standard subscriptions to The Information cost $399 annually, although the 60-person company unveiled a $999 Information Pro subscription in February. Vanity Fair reported last August that the publisher has 360,000 “active readers,” which includes both paid subscribers and unpaid newsletter sign-ups.
Wells joined The Information after serving as the chief subscriptions officer for Dow Jones, where he managed a team of nearly 150 people and scaled subscription businesses at The Wall Street Journal, Barron’s and MarketWatch. At the time of his hiring, Vanity Fair called him a “subscription wizard.”
Unlike Wells, Resnick comes from a background less focused on subscriptions. Morning Brew, a network of free newsletters catering to various industries, does not have a paid subscription product. Resnick was one of two executives, alongside chief revenue officer Kenneth Shapiro, who was let go from Morning Brew in September.
A restrictive emphasis on subscriptions
The Information, under the direction of founder and chief executive Jessica Lessin, has eschewed many elements of a traditional advertising business, such as display ads. Its brand partnership business largely consists of newsletter and event sponsorships.
The resulting pressure on the subscription business has led to turnover in key roles related to consumer revenue. Since 2020, two executives tasked with growing subscriptions at The Information—Guillaume McIntyre and Sam Rosen—have left the company.