VIDEO LOSS

a blog, newsletter, and kaleidoscope notebook about politics, the media, and culture
by tom bunting, a Real Journalist

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A day of media bloodletting

Media
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May 14, 2020 2:12 PM
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In the last twenty-four hours:

Quartz announced that 80 journalists would be laid off.

Condé Nast instituted around a hundred layoffs and a hundred furloughs, affecting employees across WIRED, Vogue, and GQ.

Buzzfeed News announced the closure of their offices in the United Kingdom and Australia, shuttering two celebrated local news teams and furloughing fourteen journalists to uncertain futures.

Forbes eliminated pay-guarantees to contributors, and reduced freelance bonuses.

The coronavirus depression has only accelerated what was inevitable: the collapse of advertising-based online media. The storm is here much earlier than publishers expected.

A day of media bloodletting