"The Riff" with Byrne Hobart and Erik Torenberg
E14: How to Build a Media Empire
Feb 8, 2024
The hosts discuss the history of the media business and the high living standards of unionized workers in the 50s. They explore the impact of print media on discourse and the decline of working journalists. They also delve into the challenges of funding investigative reporting and the importance of understanding different industries and their strengths.
01:05:21
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Owning distribution and valuable content is crucial for building a successful media empire.
- The journalism industry must adapt to attract and retain talented individuals while providing compelling content.
Deep dives
Shift in Media Business: From Monopoly to Fragmentation
In the early days, the newspaper industry thrived as a monopoly, with cities having multiple newspapers. However, the deindustrialization and economic chaos in the 70s led to many cities becoming one-newspaper towns. This changed the dynamics of the media business, affecting job security and profitability. The decline of classifieds due to the internet also had a significant impact on the industry. Financial news, on the other hand, has always been a lucrative segment, with publications like the Wall Street Journal and Financial Times succeeding by being either the first or the best in their category.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
