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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This story first ran in DC Inno, a sister publication of the Boston Business Journal. Storyblocks, a digital content company in the Washington, D.C. area, has struck a deal to sell to private equity firm Great Hill Partners, more than a decade after the company’s launch as a stock video... Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2020-06-25 22:32:04 UTC ]
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Penguin Random House is hoping to alleviate a significant source of stress for independent booksellers by launching its annual 2-Day Transit Program on July 1, two months ahead of schedule. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-06-25 04:00:00 UTC ]
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Even as its stores reopen, Barnes & Noble has laid off a number of employees at its headquarters, including some book buyers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-06-25 04:00:00 UTC ]
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Welcome to Ad Age’s special-edition NewFronts Now newsletter, a roundup of the biggest news, trends, insights and takeaways from IAB’s Digital Content NewFronts. If you're reading this online or in a forwarded email, here's the link to sign up for NewFronts Now. Continue reading at Advertising Age
[ Advertising Age | 2020-06-24 22:02:37 UTC ]
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June 2020's upheaval around racial justice has been at times painful, at times empowering and hopeful, and at times humbling. In the professional sphere, there's not an industry that hasn't felt the impact of the latest iteration of the Black Lives Matter movement. That's why this year's... Continue reading at AdWeek
[ AdWeek | 2020-06-24 21:33:03 UTC ]
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In the wake of nationwide protests against police brutality and racial injustice, marketers and agencies that work with Vice Media have added terms like "Black Lives Matter," "protest," "Minneapolis" and even "Black people" to blocklists. As a result, the publisher's news coverage related to... Continue reading at AdWeek
[ AdWeek | 2020-06-24 17:00:52 UTC ]
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Give the little ones some tools to better understand this unprecedented event with these free children's books about coronavirus. Continue reading at Book Riot
[ Book Riot | 2020-06-24 10:37:25 UTC ]
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Give the little ones some tools to better understand this unprecedented event with these free children's books about coronavirus. Continue reading at Book Riot
[ Book Riot | 2020-06-24 10:37:25 UTC ]
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Boucher may have bought one of the country’s biggest news brands for NZ$1, but she wants journalists to eventually have a stake in the company When Sinead Boucher started out in journalism her editors weren’t too bothered if she filed a story each day. Such was the number of journalists on the... Continue reading at The Guardian
[ The Guardian | 2020-06-23 20:00:01 UTC ]
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#print media
Torrance, Calif.-based Bobit Business Media has sold its automotive aftermarket division, consisting of two controlled-circulation magazines as well as a paid membership program, to 10 Missions Media, a St. Paul, Minn.-based publisher of five B2B publications serving various segments of the... Continue reading at Folio Magazine
[ Folio Magazine | 2020-06-22 15:09:13 UTC ]
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A reader considers how social media has given libraries a new tool for community engagement, outreach, and promotion. Continue reading at Book Riot
[ Book Riot | 2020-06-22 10:32:03 UTC ]
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HarperCollins UK has brought back all the staff it placed on furlough at the start of lockdown and will pay all their salaries itself rather than claiming it back from the government, the company has announced. Continue reading at The Bookseller
[ The Bookseller | 2020-06-22 02:30:13 UTC ]
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President and CRO, Rich Routman, talks to Folio: about his company's ascent as a technology and media company and where publishing should go from here. The post Inside Minute Media’s Bold Ambitions as a Tech/Publishing Company appeared first on Folio:. Continue reading at Folio Magazine
[ Folio Magazine | 2020-06-18 16:54:52 UTC ]
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Payment terms are stretching longer and late payments are becoming more prevalent in the digital media industry—trends that were already Continue reading at Editor & Publisher
[ Editor & Publisher | 2020-06-18 16:48:48 UTC ]
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Twelve formerly incarcerated fellows will learn how to produce videos, podcasts, and other digital media in Second Chance Studio’s yearlong program. For someone who’s just gotten out of prison, it can often be nearly impossible to land a job, both because of the bias of hiring managers and... Continue reading at Fast Company
[ Fast Company | 2020-06-18 06:00:14 UTC ]
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The average payment terms in the digital media space is 59 days, up from 49 days last year. The post ‘The money is just not showing up’: Digital media companies are likely to wait even longer for payments appeared first on Digiday. Continue reading at Digiday
[ Digiday | 2020-06-18 04:01:34 UTC ]
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The Board of Trustees of the Southern Newspaper Publishers Association Foundation elected a new slate of officers for 2020-2021 at Continue reading at Editor & Publisher
[ Editor & Publisher | 2020-06-17 22:27:51 UTC ]
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Magazine fulfillment services provider Palm Coast Data will lay off up to 150 of its 400 employees, outsource some key operations to competitor CDS Global and leave its Northeast Florida headquarters for a smaller facility in the region by mid-August. The news comes shortly after the conclusion... Continue reading at Folio Magazine
[ Folio Magazine | 2020-06-16 15:17:21 UTC ]
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Staff at Hachette working on J K Rowling's new book The Ickabog have threatened to down tools over the author's recent comments affecting the transgender community. Continue reading at The Bookseller
[ The Bookseller | 2020-06-16 07:05:23 UTC ]
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Newspapers have endured tremendous change over the past few decades but perhaps no time stands out quite like what we’re Continue reading at Editor & Publisher
[ Editor & Publisher | 2020-06-15 07:00:15 UTC ]
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