Plain English with Derek Thompson Why the U.S. Media Industry Is in Meltdown
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Jan 23, 2024 Bryan Curtis, co-host of the Press Box and a seasoned writer for The Ringer, dives into the tumultuous state of the U.S. media landscape. He discusses the shocking layoffs at legacy outlets like Sports Illustrated and the significant losses plaguing major newspapers. Curtis highlights the transformation of the New York Times into a successful lifestyle brand and explores why readers are increasingly drawn to paid news subscriptions. The conversation also tackles the challenges faced by mid-sized publications and local news in today's polarized environment.
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Journalism Icons Fall
- Derek Thompson recounts the recent demise of two journalism icons, Sports Illustrated and Pitchfork.
- These closures resonated with him personally, highlighting the broader struggles of the news industry.
News Industry Decline
- The news industry is experiencing a decline, with major newspapers like The Washington Post and Los Angeles Times facing significant losses.
- Startups and digital media companies like BuzzFeed, Barstool Sports, and Vice are also struggling.
Sports Illustrated's Ownership
- The decline of Sports Illustrated stems from a complex ownership structure involving licensing agreements and brand management.
- This convoluted model contributed to the magazine's financial difficulties.