Plain English with Derek Thompson
Why the U.S. Media Industry Is in Meltdown
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.
42:02
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Quick takeaways
- The decline of the news industry is attributed to mismanagement, decreased advertising revenues, and the impact of technology.
- Successful media outlets have shifted towards subscription models, while independent writers thrive through direct monetization platforms like Substack.
Deep dives
The dire state of news media economics
The podcast episode discusses the dire state of news media economics, highlighting recent layoffs and financial challenges faced by major journalism outlets including Condé Nast, Sports Illustrated, The Washington Post, and WNYC. It explores the overall decline of the news industry and the impact of factors like mismanagement, the end of the Trump bump, decreased advertising revenues, subscription models, and the rise of technology. The episode also touches on the role of private equity firms in exacerbating the financial struggles of media organizations.
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