When it comes to news in the digital age, which journalism model will work?
Now, big digital media-news companies, once the great hope of post-print news, seem to be going in the same direction. Down, down, down.News suddenly shuttered, leaving scores of extremely talented journalists without employment . Vox Media recently laid off 7% of its staff and raised money based on a valuation about half of what it was worth in 2015.
“This is what real revolutions are like. The old stuff gets broken faster than the new stuff is put in its place,” Shirky wrote. And, amid the ensuing chaos, it’s extremely hard to see what’s going next: “The importance of any given experiment isn’t apparent at the moment it appears, big changes stall, small changes spread.”
In fact, said Smith, whose new book, Traffic, traces the rise and decline of the digital-news dream, “the internet itself is kind of falling apart”. That may be overstating it, but Twitter users – and hundreds of laid-off journalists – would find it hard to disagree.work? What will be successful, not only financially but in serving the public’s need for fact-based news and information?
News companies that are owned by billionaires, such as the Washington Post, may have more stability than most, but still find themselves grappling with the loss of advertising revenue; even billionaires don’t want to sustain losses indefinitely.
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