- Buzzfeed slashed its revenue projections in 2016 from $500 million to $250 million. This is after it missed its own revenue projections in 2015 by 30 percent.
- Earlier this month, Mashable laid off 30 staffers. Mashable's CEO Pete Cashmore sent out a memo pivoting the brand into video production, and diminishing coverage of world news and politics. He wrote, "We'll spend more time focusing on our core coverage — technology, web culture, science, social media, entertainment, business and lifestyle, all told through the digital lens."
- A co-founder of Vox Media wrote an impassioned piece about how this is now our opportunity to build a better version of internet media, now that everything has accelerated to its logical end.
Big box content farms were forced into a major realization—reporting on generalist news and trends has resulted with a huge, unmonetizable, unsegmented audience. Sure, a branch of your media company exists to piggyback off trending stories and produce low-end shareable stories that keep your traffic growing. But that means there is no way to build a definable audience when you have a kitchen sink editorial strategy. The big box practice of generalism will probably still continue, though, but the segmented audiences in relevant verticals will become even more important to a big box media company's brand.
There is no way to build a definable audience when you have a kitchen sink editorial strategy