Mics Layoffs Started with Focus on Video Ads. It all ended with a major sale to Bustle

[NeverTrump]

When you try to turn a journalism business into a video business where Facebook and Google own 99% of the market share. You are doomed to fail. This is what happened to Mic, a digital journalism company that billed itself as a news site for millenials.

It's another signal that digital media's days of sky-high valuations and reckless spending are approaching their end. It seems like the subscription model and the new FB rules has had a positive effect on larger institutions that stuck to their traditions and implemented a paywall. Sadly, the public at large generally hate paywalls.

Bustle Digital Group acquires Mic after massive layoffs

 

[Xelor]

When you try to turn a journalism business into a video business where Facebook and Google own 99% of the market share. You are doomed to fail. This is what happened to Mic, a digital journalism company that billed itself as a news site for millenials.

It's another signal that digital media's days of sky-high valuations and reckless spending are approaching their end. It seems like the subscription model and the new FB rules has had a positive effect on larger institutions that stuck to their traditions and implemented a paywall. Sadly, the public at large generally hate paywalls.

Bustle Digital Group acquires Mic after massive layoffs

Before the was the Internet, there was the "paperboy and the mailman." If one didn't subscribe, one's doorstep didn't have a newspaper and Time, Look, Life, Arch. Digest, Readers Digest, etc. didn't come in the mail.

Subscriptions aren't a new concept. What remains to be seen implemented on the Internet is the "pay per use" model, except in porn, which isn't surprising as the porn-sex industry is generally the first to embrace pretty much any and every new technology notion well before the rest of the world sees its value.