Last week, major digital media outlets, BuzzFeed and Vice Media, appeared to be singing their swan songs. Between large scale layoffs and publishing at a standstill, it is clear they can never be the same. But, what is the next stage in these business’s evolutions or is this truly the end?
Digital Media Outlets Resemble Online Ghost Towns…
Millennials in particular will remember the Golden Age of digital media…
At the forefront of the internet takeover was Vice and BuzzFeed. Both of these outlets created content that was entertaining and easily digestible.
BEFORE LONG, THEY WERE GIVING MASS MEDIA DISTRIBUTORS A RUN FOR THEIR MONEY. THEN, CAME THE INEVITABLE “IMITATORS.”
Unfortunately, both of the innovators of digital media have suffered the same fate as other tech companies. Namely, significant numbers of their workers were laid off.
To be specific, BuzzFeed:
- Laid off 16% of its workforce.
- Is frantically trying to restructure and reduce cost.
As grim as sounded for the state of digital media, Vice Media suffered a more abrupt blow. Yet, many staffers claimed to see it coming…
Online Journalists Have Seen “The Writing on the Wall”
Last Thursday, hundreds of employees were laid off from Vice Media via a company memo from CEO, Bruce Dixon.
And to add insult to injury, the former digital media juggernaut then announced it would no longer publish on its official website.
Devastated as the team was, not many were shocked.
An anonymous Vice media employee said to CNN:
“I THINK MOST OF US HAVE SEEN THE WRITING ON THE WALL: THERE ARE SIMPLY NOT ENOUGH LIFEBOATS, AND HIGHLY UNLIKELY THAT THE SKELETON CREW OF US ON DIGITAL NEWS WILL BE INVITED ONBOARD ONE.”
Despite the overall pessimistic viewpoint, both Vice and BuzzFeed have plans to distribute digital media for other mainstream sources.
Nonetheless, it seems this chapter of internet history is over — for now…
Be Great,
GCTV Staff
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