Digital Media: What Went Wrong

The digital publishing industry took a big hit in recent days, when more than 1,000 employees were laid off at BuzzFeed, AOL, Yahoo and HuffPost. Coupled with recent layoffs at Gannett, the company behind USA Today and other dailies nationwide, the crisis in the digital sphere suggested that the journalism business was damned if it embraced innovation and damned if it didn’t. Chris Hayes, the author and MSNBC anchor, summed up the bleak outlook with a tweet that asked, “What if there is literally no profitable model for digital news?”

Source: www.nytimes.com