Masters of Scale How to save a magazine, with The Atlantic’s Nicholas Thompson
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Jan 15, 2026 
Nicholas Thompson, CEO of The Atlantic and former editor at Wired, discusses his successful turnaround of the magazine from financial trouble to profitability. He shares insights on innovative paywall strategies and AI partnerships, emphasizing a pragmatic approach over legal battles. Thompson also connects lessons from long-distance running to leadership, highlighting the importance of mental resilience and coaching. His memoir, The Running Ground, explores family and personal growth, revealing how running shaped his perspective on ambition and potential.
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Comparative Advantage Drives Big Career Moves
- Nicholas Thompson took the Atlantic CEO role because his comparative advantage was fixing business models for serious journalism.
- He believed his skills at building digital subscription models could rescue a strong editorial product in decline.
Test Everything Until You Improve 1%
- Run hundreds of small tests on paywall and pricing variables to find incremental gains that compound into major revenue improvements.
- Treat product decisions like a tech playbook: iterate, measure, and change anything that is even 1% better.
Smart Paywalls Must Guess Who Will Pay
- A sophisticated, targeted paywall can increase subscriptions while balancing ad revenue and public access concerns.
- The key is guessing who will subscribe using story type, referral source, and other signals to set different paywall rules.
