Vox Media has confirmed what CNBC reported earlier this week, that it is indeed about to undergo a round of layoffs that will eliminate 72 positions, which accounts for 6% of its total staff of 1,200. In a letter to staff, CEO Jim Bankoff, broke the difficult news to his employees candidly, opening with: “With deep sadness, and as a consequence of the pandemic and its devastating impact on the economy, I am writing to let you know that today we will be informing some of our colleagues that they will no longer have jobs at Vox Media.” According to CNBC, Vox has struggled to generate enough revenue due to the economic downturn that has been caused by the COVID-19 pandemic. At current pace, it is expected to miss its full-year revenue goal by 25%. The publisher, who’s portfolio includes Vox.com, New York Magazine, The Cut, The Verge, Recode, SB Nation, Eater and Polygon and others, was considered a digital publishing role model by many media pundits for its ability to launch new brands and make smart acquisitions that fit into its core business model. But as we’ve seen recently with companies like Atlantic Media and Quartz, two organizations that were also celebrated for their innovative business models, nobody is immune to the current market conditions. According to Bankoff, the coming cuts will be a majority of staffers who were furloughed in May, but some who stayed on through the pandemic will also be laid off. No specifics as of yet to which departments will be... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-07-16 14:53:51 UTC ]
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The editor-in-chief of Lifehacker and a union representing staffers at the site each blasted parent company G/O Media on Friday for firing the site's travel writer, Imani Bashir, without severance pay after finding that it was unable to continue employing her as a non-U.S. resident. In a... Continue reading at Folio Magazine
[ Folio Magazine | 2020-07-20 16:06:59 UTC ]
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[caption id="attachment_181071" align="alignright" width="150"] Paul Andrews[/caption] Despite a string of recent acquisitions and what CEO Chris Ferrell termed "significant financial exposure" due to a suspension of live events, Nashville-based Endeavor Business Media evidently still has the... Continue reading at Folio Magazine
[ Folio Magazine | 2020-06-03 20:20:06 UTC ]
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Modern Luxury Media, publisher of more than 40 high-end regional lifestyle magazines, has furloughed a significant number of staffers across the company through at least the end of June as a result of the COVID-19 pandemic. CEO Michael Dickey—who noted that he and other executives are forgoing... Continue reading at Folio Magazine
[ Folio Magazine | 2020-04-14 18:53:14 UTC ]
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Group Nine Media, whose digital media properties include PopSugar, The Dodo and NowThis, laid off dozens of employees, or 7% of its more than 700-person staff, across the company. It's the latest publisher to take drastic action as COVID-19 has drastically altered the media landscape. As the... Continue reading at AdWeek
[ AdWeek | 2020-04-07 20:39:10 UTC ]
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Higher paid staff at Pan Macmillan have been asked to volunteer for a pay reduction and employees at its distribution arm will be furloughed as the publisher unveiled measures to help “safeguard” its business during the Covid-19 pandemic. Continue reading at The Bookseller
[ The Bookseller | 2020-04-03 10:15:37 UTC ]
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NEW YORK—Folio:, the publishing industry’s go-to source for news, business intelligence and peer-to-peer recognition, has opened the call for nominations for the 2020 Top Women in Media Awards. Each year, the awards program honors 80+ leaders who have made a lasting impact on their brands,... Continue reading at Folio Magazine
[ Folio Magazine | 2020-01-28 21:07:59 UTC ]
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For publishers, this is a time of radical reinvention marked by a breakneck pace of innovation. To make sense of the changing landscape for both digital-native and traditional publishers, Ad Age is convening a high-level gathering of some of the best minds in the business. At Ad Age Publishing:... Continue reading at Advertising Age
[ Advertising Age | 2019-10-22 14:50:00 UTC ]
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For publishers, this is a time of radical reinvention marked by a breakneck pace of innovation. To make sense of the changing landscape for both digital-native and traditional publishers, Ad Age is convening a high-level gathering of some of the best minds in the business. At Ad Age Publishing:... Continue reading at Advertising Age
[ Advertising Age | 2019-10-18 16:17:19 UTC ]
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Move comes after four months of discussions and previous attempt three years agoVice UK has become one of the first British digital media publications to unionise, with staff urging other online-only media outlets to follow their lead while the industry is in turmoil amid financial struggles and... Continue reading at The Guardian
[ The Guardian | 2019-07-25 17:53:06 UTC ]
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Big media players like Unilever and Procter & Gamble Co. have been talking plenty about making media more responsible. Now they’re getting more people to talk. The marketers are launching the Global Alliance for Responsible Media alongside 14 other global advertisers, the five leading agency... Continue reading at Advertising Age
[ Advertising Age | 2019-06-18 04:01:00 UTC ]
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The current strain of schadenfreude coursing through the digital-publishing ecosystem regarding BuzzFeed is entirely understandable. Not particularly helpful, but entirely understandable.In late January, the Wall Street Journal reported that BuzzFeed was cutting 15 percent of its global... Continue reading at Advertising Age
[ Advertising Age | 2019-02-05 00:00:00 UTC ]
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The former New York Times editor skewers everyone in her new book, but ‘there isn’t one business model that’s going to save journalism’, she saysMerchants of Truth, the new book by the former New York Times executive editor Jill Abramson, is a deep dive into multiple crises that have bedeviled... Continue reading at The Guardian
[ The Guardian | 2019-02-05 00:00:00 UTC ]
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Cuts follow recently announced redundancies at HuffPost and BuzzFeedVice has announced plans to sack 250 staff, as a wave of job cuts affecting the digital media industry continues to hit companies around the world amid questions over the sustainability of ad-supported online publishing.Almost... Continue reading at The Guardian
[ The Guardian | 2019-02-01 00:00:00 UTC ]
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Lawmakers on Capitol Hill questioned top executives at Facebook and Twitter on Wednesday about their companies’ ability to thwart foreign interference, and hinted that industry regulations may be coming. The “size and reach of your platforms demand that we, as policy-makers, do our job, to ensure... Continue reading at Los Angeles Times
[ Los Angeles Times | 2018-09-05 00:00:00 UTC ]
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3. The 'pee-tape' stuff is back, biglyThe Washington Post also got an advance copy of the book. Rather than review it, the Post's White House Bureau Chief Philip Rucker sums it up in a story titled "James Comey's memoir: Trump fixates on proving lewd dossier allegations false." Rucker... Continue reading at Advertising Age
[ Advertising Age | 2018-04-13 00:00:00 UTC ]
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The deal was an example of how publishers are leaning on each other to grow their share of the digital ad pie that’s increasingly going to the tech giants. The post Conde Nast is out of its sales partnership with NBCU and Vox Media appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2018-03-19 00:00:00 UTC ]
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With the help of an ad testing tool, the publisher reduced its reliance on buying traffic from Facebook to meet clients' campaign goals. The post To deal with native ad pains, Vox Media brings distribution in-house appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2017-10-27 00:00:00 UTC ]
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Foreign Policy taps a new editor-in-chief, Refinery29 names a senior fashion editor, and more… The post T Magazine, Trusted Media Brands Staff Up | People on the Move appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2017-08-24 00:00:00 UTC ]
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Greg Hywood says company will keep printing Sydney Morning Herald and the Age ‘for some years yet’ and may spin off Domain real estate business Fairfax Media will continue to print its daily newspapers for several years, its chief executive, Greg Hywood, confirmed at the company’s results... Continue reading at The Guardian
[ The Guardian | 2017-02-22 00:00:00 UTC ]
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Reviews editor Annie Coreno recommends '#Republic: Divided Democracy in the Age of Social Media' by Cass R. Sunstein, an incisive look at the intersection of the Internet and democracy. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-02-17 00:00:00 UTC ]
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