Flummoxed by the 'Broken' Ad-Supported Publishing Model, Medium Slashes Staff

Medium, the online publishing company started by Twitter co-founder Ev Williams, is changing its business model and cutting a third of its staff.The company, which has raised $132 million in venture capital from investors including Greylock Partners and Andreessen Horowitz, relied on the same model as other media companies to make money: placing ads on articles. In a blog post Wednesday, Mr. Williams called that model "broken," because it serves the goals of corporations and not the readers of content."We are shifting our resources and attention to defining a new model for writers and creators to be rewarded, based on the value they're creating for people," Mr. Williams wrote. "And toward building a transformational product for curious humans who want to get smarter about the world every day." Continue reading at AdAge.com Continue reading at 'Advertising Age'

[ Advertising Age | 2017-01-05 00:00:00 UTC ]

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Execs Imagine the Company of the Future

Media companies of the future will be organized differently from the way they are now, with much higher capital expense costs and much greater need for in-house digital development skill. That, with some accommodations for varying markets and editorial missions, was essentially the conclusion of... Continue reading at Folio Magazine

[ Folio Magazine | 2011-03-10 00:00:00 UTC ]
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