In episode #2454, we talk about what BuzzFeed and Vice's declines tell you about media businesses. Once valued at nearly $6 billion, Vice is reportedly preparing to file for bankruptcy, becoming the latest in a string of media empires to collapse with dwindling interest and revenue. The decline of Vice follows shortly after BuzzFeed News announced its closure in April, a move that brings a pioneering era of digital journalism to a close. What happened? And what can you learn from it? Join us as we discuss why this is happening, what we think these companies could have done differently, and more!
TIME-STAMPED SHOW NOTES:
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[00:00] Today’s topic: What BuzzFeed and Vice's Declines Tell You About Media Businesses.
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[00:55] Reasons that digital media companies are declining.
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[01:53] Why do we recommend monetizing a product or service, not media?
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[03:05] How Logan Paul’s PRIME illustrates the value of leveraging your distribution.
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[04:29] Ways to increase profit margins using equity.
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[04:57] Why it’s the size of your market, not your audience, that matters.
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[06:15] That’s it for today! Don’t forget to rate, review, and subscribe!
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