Digital news outlets suffer a round of mass layoffs. Plus, the journalistic life of Gabriel Garcia Marquez.
BuzzFeed and the digital media bubble
It's been a bad couple of weeks for the digital news industry. More than 1,000 workers, many of them reporters, have lost their jobs at companies like BuzzFeed, Huff Post and Vice.
Just five years ago, these digital news outlets were seen as the future of journalism. But the layoffs suggest that the business model the companies all rely on, click-based advertising revenue, doesn't add up to a profitable bottom line.
The two tech giants are eating up the bulk of digital ad revenues - leaving the BuzzFeeds of the world in roughly the same place as newspapers and other legacy news organisations before them - trying to find new models to make their businesses work.
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