Media Disruption Creates Opps for Forward Thinkers
I have written extensively about the ongoing shift in influence from traditional sources of credibility such as the business and trade media, to the conversations and dialogue that define social networks.
As user time, engagement and interaction move to online communities, advertisers have redirected their marketing spend to social and mobile environments.
The economics of this shift have and will continue to disrupt the business models and stability of publishers, broadcasters and conference organizers and others. I’ve included below two news items recently published by Capitol Communicator.
Although painful, the decision to restructure employee headcount and re-set content creation priorities is absolutely necessary for media organizations to remain viable.
Of course, this then creates an opportunity for forward-thinking vendors to step into the gap as a source of high-quality, exceptional thought leadership content.
Time Inc., the publisher of magazines including Time and Sports Illustrated, has begun eliminating about 6% of its head count — nearly 500 jobs — in the biggest round of cuts at the company since 2008, reports AdAge. The AdAge report added that as a result of “ongoing changes in our industry, we must continue to transform our company into one that is leaner, more nimble and more innately multi-platform,” CEO Laura Lang said in a memo to employees. “To make this change, we need to operate as smartly and efficiently as possible to create room for critical investments and new initiatives. These reductions are part of this important transformation process.”
The Washington Post has laid off at least 40 employees on the business side, including its mobile department, reports POLITICO. According to POLITICO, the layoffs, first reported by FishbowlDC, which put the number at 54, come as the Post tries to restructure amid ongoing declines in advertising and circulation.