The big story this week
This week in media may go down in history as we
saw several young startups laying off staff and losing funding. First BuzzFeed announced
that it would be laying off 15 percent of its staff, followed by Verizon Media Group announcing layoffs
of up to 800 employees which could affect publications like HuffPost, Techcrunch and many others.
If that wasn’t enough doom and gloom, investment group WarnerMedia have shut down its investment arm
that has previously backed digital media startups such as Mashable.
Many of these new-media startups that were for some years seen as the modern success story, have fallen into the trap of not living up to investor expectations. Is it time to shake things up and move away from huge media orgs, and on to something more sustainable?