RobDownSouth
Oh Look....
- Joined
- Apr 13, 2002
- Posts
- 75,207
Adrina began this discussion in another thread, I thought it deserved a thread of its own.
The decline and fall of Journalism.
Journalism is circling the drain nowadays, journalists and articles have been replaced by "content creators".
I noticed last month that si.com website is no longer branded as "Sports Illustrated". The twice sold company, which was grossing $50 million per year as recently as 2019, licensed its archive to venture capitalists in 2019 and missed a payment to use the content they licensed on March 1st. They laid off their entire staff and what remains is a clickbait-oriented "me too!" shell designed to get clicks and nothing else.
They were unique in that their content was so good they were one of the few print/online platforms to make a profit during Covid...but then the wheels fell off the bus. They paid their new venture capitalist president almost one million dollars salary per year, he knew nothing about sports or journalism. He DID know real estate, and he used post-Covide real estate doldrums to lock up some of the best and most luxurious office space in New York, Los Angeles and Miami for a total eight million dollars a year on a 30 year lease, while readership and clicks declined due to "outsourced product".
To many Boomers, SI was an integral part of their life.
More recently, Vice.com got sold for a fraction of their worth from just three years ago. Not unlike Blockbuster, they completely misread the market when their new Venture capital management decided to ditch print/online written content in favor of video! video! video! that Facebook insisted was the wave of the future. Their last gasp was the week after the Israeli invasion of Gaza, where they actually had "boots on the ground" (unlike the hollowed out "mainstream media") and were the first to report in real time how there actually WERE a shit ton more civilian casualties in Gaza than Israel claimed. Two Emmy nominations and four Webby nominations.
The New York Times recently outsourced their entire sports department to TheAthletic.com, which provides little more than sports scores nowadays.
Venture capitalists have hollowed out and destroyed most of online media in America.
The decline and fall of Journalism.
Journalism is circling the drain nowadays, journalists and articles have been replaced by "content creators".
I noticed last month that si.com website is no longer branded as "Sports Illustrated". The twice sold company, which was grossing $50 million per year as recently as 2019, licensed its archive to venture capitalists in 2019 and missed a payment to use the content they licensed on March 1st. They laid off their entire staff and what remains is a clickbait-oriented "me too!" shell designed to get clicks and nothing else.
They were unique in that their content was so good they were one of the few print/online platforms to make a profit during Covid...but then the wheels fell off the bus. They paid their new venture capitalist president almost one million dollars salary per year, he knew nothing about sports or journalism. He DID know real estate, and he used post-Covide real estate doldrums to lock up some of the best and most luxurious office space in New York, Los Angeles and Miami for a total eight million dollars a year on a 30 year lease, while readership and clicks declined due to "outsourced product".
To many Boomers, SI was an integral part of their life.
More recently, Vice.com got sold for a fraction of their worth from just three years ago. Not unlike Blockbuster, they completely misread the market when their new Venture capital management decided to ditch print/online written content in favor of video! video! video! that Facebook insisted was the wave of the future. Their last gasp was the week after the Israeli invasion of Gaza, where they actually had "boots on the ground" (unlike the hollowed out "mainstream media") and were the first to report in real time how there actually WERE a shit ton more civilian casualties in Gaza than Israel claimed. Two Emmy nominations and four Webby nominations.
The New York Times recently outsourced their entire sports department to TheAthletic.com, which provides little more than sports scores nowadays.
Venture capitalists have hollowed out and destroyed most of online media in America.