BuzzFeed News & now Vice, why are media companies failing?
Here’s a quick list of reasons:
- Without being backed by the revenue of a profitable physical product or popular subscription based service, these companies are reliant on ad revenue.
- With so much choice for advertisers nowadays, they will often avoid topics involving tragedy.
- The barrier to entry to make a media company is pretty much nonexistent nowadays. An individual running a news account on Twitter or TikTok can have the same reach as Vice. This again devalues the content for advertisers.
- These organisations are bloated, often carrying costs associated with the revenue media could generate 10 years ago, despite the landscape changing.
SIR THORNEY 