Medium Just Laid Off 50 Employees and Shut Down Offices in New York and D.C.

Medium founder and CEO Ev Williams disclosed today in a blog post that his four-and-a-half-year-old company is eliminating 50 jobs and shutting down offices in New York and Washington, D.C. In a philosophical letter to the public, he recounted how his team's ultimate goals had gotten off course thanks to the monetization model known as advertising. "We set out to build a better publishing platform—one that allowed anyone to offer their stories and ideas to the world and that helped the great ones rise to the top," Williams wrote. "In 2016, we made big investments in teams and technology aimed at attracting and migrating commercial publishers to Medium. And in order to get these publishers paid, we built out and started selling our first ad products. This strategy worked in terms of driving growth, as well as improving the volume and consistency of great content." While it appears Medium is doing away with its sponsored posts ads product, he wrote that 2016 was his company's best year in terms of key metrics. For instance, published posts jumped roughly 300 percent year over year, and monthly visitors reportedly reached 60 million in December, representing a 140 percent year-over-year increase. Medium, a digital storytelling platform, has even attracted scores of public figures—most notably President Barack Obama—to get their messages out. Meanwhile, publishers of all sizes have been able to try to make money off their Medium stories, which have been sponsored in... Continue reading at 'AdWeek'

[ AdWeek | 2017-01-05 00:00:00 UTC ]
News tagged with: #generate revenue

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New York books find foreign audience

TV shows and Hollywood blockbusters aren't America's only cultural exports. The book industry is also expanding overseas, according to a report released Friday by the Association of American Publishers that looks at book exports for the first time. Exports by U.S. publishers, which are dominated... Continue reading at Crains New York

[ Crains New York | 2012-05-19 00:00:00 UTC ]
More news stories like this | News stories tagged with: #greater number #smart phones #authors found #pop culture #business books

Los Angeles Times Shutting Down LA Magazine

The Los Angeles Times is shutting down its monthly Sunday magazine, LA. The last issue will be June 3rd and the closure comes after attempts to recast the publication through frequency reductions, management shifts and editorial change-ups. Continue reading at Folio Magazine

[ Folio Magazine | 2012-05-16 00:00:00 UTC ]
More news stories like this | News stories tagged with: #frequency reductions

'50 Shades of Grey' won't be coming to some libraries

'We do not collect erotica,' says one staff member at a library where the books will not be stocked. Continue reading at The Christian Science Monitor

[ The Christian Science Monitor | 2012-05-10 00:00:00 UTC ]
More news stories like this | News stories tagged with: #staff member

Time Out New York Launches E-Commerce, Daily Deals Platform

Moving forward with an expanded focus on digital media, Time Out New York (TONY) has integrated e-commerce and daily deals into its website and newly-launched apps. Continue reading at Folio Magazine

[ Folio Magazine | 2012-04-11 00:00:00 UTC ]
More news stories like this | News stories tagged with: #moving forward

Google shuts down reseller scheme for UK bookshops too

Google has told UK bookshops that it is shutting its reseller programme, and has invited the... Continue reading at The Bookseller

[ The Bookseller | 2012-04-11 00:00:00 UTC ]
More news stories like this | News stories tagged with: #uk bookshops

Media Decoder Blog: "50 Shades of Grey" Movie Rights Are Bought by Universal

"Fifty Shades of Grey'' and its two sequels, which became underground sensations and attracted interest from major publishing houses, is headed for Hollywood. Continue reading at The New York Times

[ The New York Times | 2012-03-26 00:00:00 UTC ]
More news stories like this | News stories tagged with: #fifty shades #movie rights

New York Magazine Takes Home Digital Ellie for General Excellence

NEW YORK – Today’s MPA Digital: Swipe Conference closed with the National Magazine Awards for Digital Media 2012, presented by the American Society of Magazine Editors [ASME]. People managing editor and ASME president Larry Hackett and Lucy Danziger, editor-in-chief of SELF and ASME secretary,... Continue reading at Folio Magazine

[ Folio Magazine | 2012-03-21 00:00:00 UTC ]
More news stories like this | News stories tagged with: #general excellence #mpa digital #american society #lucy danziger

Four in ten shops to shut, Deloitte predicts

Four in ten shops will shut and property portfolios will reduce by 30-40% in the next five years... Continue reading at The Bookseller

[ The Bookseller | 2012-03-21 00:00:00 UTC ]
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HC acquires debut series by ex-Met officer

HarperCollins has signed a three-book crime thriller series written by debut author and former... Continue reading at The Bookseller

[ The Bookseller | 2012-03-16 00:00:00 UTC ]
More news stories like this | News stories tagged with: #debut author

Waterstones to move head office to Piccadilly

Waterstones is to move its head office to its flagship store in Piccadilly to be closer to its... Continue reading at The Bookseller

[ The Bookseller | 2012-03-13 00:00:00 UTC ]
More news stories like this | News stories tagged with: #head office #flagship store

Corporate Ladder: Devin C. Johnson, Studio One Networks' chief operating officer

Devin C. Johnson, 38, joined Studio One Networks as chief operating officer. In this role, he will be responsible for strategic and operational leadership for the network's partnerships with online publishers and brand marketers. He will oversee the management of the company's finances,... Continue reading at Crains New York

[ Crains New York | 2012-03-04 00:00:00 UTC ]
More news stories like this | News stories tagged with: #duke university #online publishers #brand marketers #general manager #spare time

International publisher alliance shuts down piracy site

An international alliance of publishers, including Cambridge University Press, Elsevier and... Continue reading at The Bookseller

[ The Bookseller | 2012-02-15 00:00:00 UTC ]
More news stories like this | News stories tagged with: #international alliance

Newsday Wins Three New York News Publishers Association Awards for Excellence

Melville, NY, February 14, 2012 &ndash; Newsday has been recognized by the New York News Publishers Association with three Awards for Excellence for its superior journalism. Award winners will be honored at a reception in Albany on Wednesday, Apr ... Continue reading at Editor & Publisher

[ Editor & Publisher | 2012-02-14 00:00:00 UTC ]
More news stories like this | News stories tagged with: #award winners

Hearst Ups Equity Interest in Fitch Group to 50 Percent

Hearst Corporation has upped its equity interest in global credit ratings agency Fitch Group again, adding an additional 10 percent. The transaction, valued at $177 million, brings Heart’s total equity interest to 50 percent. Continue reading at Folio Magazine

[ Folio Magazine | 2012-02-10 00:00:00 UTC ]
More news stories like this | News stories tagged with: #hearst corporation

App Development Strategies for Small to Medium-Sized Publishers

Keeping pace with the dramatic changes on the smartphone and tablet front is no small feat for any publisher, but doing so presents a particular challenge for smaller companies without a safety net of funds for experimentation with platforms that are at once in their infancy and yet increasingly... Continue reading at Folio Magazine

[ Folio Magazine | 2012-01-26 00:00:00 UTC ]
More news stories like this | News stories tagged with: #small feat #medium-sized publishers #keeping pace #safety net

Feds shut down Megaupload, call it an international organized crime ring

As the internet pats itself on the back for protesting SOPA and changing the minds of a handful of U.S. Senators, file-sharing site Megaupload has been brought down in one of the largest copyright infringement cases of all time. Seven individuals and two international corporations have been... Continue reading at Betanews

[ Betanews | 2012-01-20 00:00:00 UTC ]
More news stories like this | News stories tagged with: #international corporations #copyrighted material #massive scale

Ammo Books: Publishing in Small, Medium, and Large

For an indie publisher to launch its first line with a $300 art book takes guts and vision, but that’s what Ammo Books’ founders Paul Norton and Steve Crist did in 2006 when they published 3,000 copies of Gonzo by Hunter S. Thompson and sold out in less than a year. Continue reading at Publishers Weekly

[ Publishers Weekly | 2012-01-20 00:00:00 UTC ]
More news stories like this | News stories tagged with: #indie publisher #steve crist

New York Post Launches New Kindle Fire App

Add the New York Post to the growing list of publications that are releasing apps optimized for the Kindle Fire and in this case, other seven-inch Android tablets too. “This app adds to our array of critically-acclaimed and successful app ... Continue reading at Editor & Publisher

[ Editor & Publisher | 2012-01-18 00:00:00 UTC ]
More news stories like this | News stories tagged with: #york post #growing list #kindle fire

The New York Times, The Daily and New Yorker Top Performing Titles on Apple’s Newsstand

In 2011, one phrase defined the magazine industry: digital editions. Whether publishers were deciding to take the leap into digitizing their publications, or deciding on what app to develop next, digital was top of mind for publishers of all kinds. Continue reading at Folio Magazine

[ Folio Magazine | 2012-01-13 00:00:00 UTC ]
More news stories like this | News stories tagged with: #digital editions #magazine industry