Internet Has Changed The Media Business Model

 Advertising media is a broken business model.

Internet publishing platform Medium is laying off 50 employees, closing two offices and changing its business model from free-to-read, ad-supported content, founder and CEO Evan Williams announced in a recent post on their site.

The company is axing about one-third of its workforce, mostly on the sales and business side, as it moves away from monetising itself through Internet ads. Medium is also shuttering its New York City and Washington, DC offices.

In the post, Williams touted Medium’s growth in readers and published posts, which were both up threefold year-over-year, but despite that engagement and the onboarding of numerous commercial publishers to Medium’s platform, the company wasn’t able to make enough money for its content creators (those who didn’t have subscription memberships) solely through its reliance on Internet advertising.

“In building out this model, we realised we didn’t yet have the right solution to the big question of driving payment for quality content. We had started scaling up the teams to sell and support products that were, at best, incremental improvements on the ad-driven publishing model, not the transformative model we were aiming for,” Williams wrote.

“To continue on this trajectory put us at risk , even if we were successful business-wise , of becoming an extension of a broken system.”

Williams said ad-driven media in itself is that “broken system,” and said the company would take a different tack as it moves forward with its business model.

TheWrap

 

« 2017: Cybersecurity At A Turning Point
Are You Ready For State-Sponsored Cyber Attack? »

Infosecurity Europe
CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

ZenGRC

ZenGRC

ZenGRC (formerly Reciprocity) is a leader in the GRC SaaS landscape, offering robust and intuitive products designed to make compliance straightforward and efficient.

MIRACL

MIRACL

MIRACL provides the world’s only single step Multi-Factor Authentication (MFA) which can replace passwords on 100% of mobiles, desktops or even Smart TVs.

DigitalStakeout

DigitalStakeout

DigitalStakeout enables cyber security professionals to reduce cyber risk to their organization with proactive security solutions, providing immediate improvement in security posture and ROI.

IT Governance

IT Governance

IT Governance is a leading global provider of information security solutions. Download our free guide and find out how ISO 27001 can help protect your organisation's information.

Practice Labs

Practice Labs

Practice Labs is an IT competency hub, where live-lab environments give access to real equipment for hands-on practice of essential cybersecurity skills.

4N6

4N6

4N6 is a privately-owned firm founded with the goal of providing expert knowledge of computer forensics.

Think Cyber Security (ThinkCyber)

Think Cyber Security (ThinkCyber)

ThinkCyber is a Tel Aviv-based Israeli company with a team of cybersecurity professionals who are experts in both information and operations technology.

Aricoma

Aricoma

Aricoma are Architects of Digital. We aim to become a major player in end-to-end IT services and digital transformation in Europe.

LuJam Cyber

LuJam Cyber

LuJam Cyber is a cybersecurity company that provides protection to SME Networks.

Optra Security

Optra Security

Optra Security specializes in information security with a focus on Application Security.

SecondWrite

SecondWrite

SecondWrite’s next-generation malware detection engine delivers a combination of automatic deep code inspection and accurate scoring of zero-day malware.

Huntington Ingalls Industries (HII)

Huntington Ingalls Industries (HII)

Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry.

Sentrium Security

Sentrium Security

Sentrium is committed to helping organisations protect their technology, information and people. Our range of bespoke services provide solutions to tackle a broad range of cyber security challenges.

KirkpatrickPrice

KirkpatrickPrice

KirkpatrickPrice is dedicated to providing you with innovative security guidance and efficient audit services.

Dawgen Global

Dawgen Global

Dawgen Global is an integrated multidisciplinary professional service firm in the Caribbean Region providing a range of services including Risk Management and Information Systems Assurance.

Galvanick

Galvanick

Galvanick enables your operations and IT teams to protect your industrial systems and networks against digital threats.

HaystackID

HaystackID

HaystackID provides industry-leading computer forensics, eDiscovery, and attorney document review experts to help with complex, data-intensive investigations and litigation.

White Knight Labs

White Knight Labs

White Knight Labs is a cyber security consultancy that specializes in cybersecurity training.

Heyhack

Heyhack

Heyhack is a SOC 2 Type II certified automated penetration testing platform for web apps and APIs.

iTRUSTXForce

iTRUSTXForce

iTRUSTXForce is a global provider of DigitalX (cybersecurity, privacy, and digital trust) services. We offer comprehensive services that focus on delivering outcomes for our clients.

Cloud Native Computing Foundation (CNCF)

Cloud Native Computing Foundation (CNCF)

CNCF seeks to drive adoption of cloud native technologies by fostering and sustaining an ecosystem of open source, vendor-neutral projects.