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A company laying people off is not confirmation that the things you don't like about them are hurting their business. It just might have more to do with the pan

A company laying people off is not confirmation that the things you don't like about them are hurting their business. It just might have more to do with the pandemic than their politics.

Clubber 6y ago
Perhaps, but regarding the pandemic, I would assume the pandemic would cause people to read more digital news than before, simply because they have more time to do so. For example, video game sales have had a really great last quarter.
- cawlin 6y ago
  I suspect many people are avoiding news plus video games act as escapism and for many a form of socializing.
- whatok 6y ago
  Consuming more of this product does not necessarily lead to an increase in revenue.
- ardy42 6y ago
  > Perhaps, but regarding the pandemic, I would assume the pandemic would cause people to read more digital news than before, simply because they have more time to do so. People may read more during the pandemic, but the advertisers are advertising less: https://www.reuters.com/article/us-health-coronavirus-vice-media-layoffs/vice-media-lays-off-155-employees-as-coronavirus-pandemic-wipes-out-ad-revenue-idUSKBN22R2N3 https://www.reuters.com/article/us-health-coronavirus-vice-m...: > Vice Media lays off 155 employees as coronavirus pandemic wipes out ad revenue > ...The cuts come as the news media industry suffers from an epic drop in advertising revenue as companies cut spending amid the pandemic. > Digital media companies, including Quartz and Buzzfeed, have slashed jobs, furloughed employees and cut salaries in an effort to survive the outbreak.
- Voloskaya 6y ago
  Vice doesn't make money from readers, they make money from advertisers, who have dramatically reduced spending since the beginning of the pandemic.
- Taylor_OD 6y ago
  People may be reading more news but if ad sales are down because revenue is down at companies who normally buy those ads that it doesn't matter how many views their new stories are getting.
spacephysics 6y ago
No, but declining readership is a good mark. 10% cut before pandemic (Feb): https://variety.com/2019/digital/news/vice-media-layoffs-250-employees-1203125890/ https://variety.com/2019/digital/news/vice-media-layoffs-250... Vice cancelled from HBO: https://www.businessinsider.com/hbo-canceled-vice-news-tonight-vice-other-networks-2019-6 https://www.businessinsider.com/hbo-canceled-vice-news-tonig... More cuts (Nov): https://www.wsj.com/articles/vice-media-to-shrink-workforce-by-as-much-as-15-as-growth-stalls-1541632597 https://www.wsj.com/articles/vice-media-to-shrink-workforce-... Many of the famous projects at vice, featuring war coverage, projects involving psychedelics and cutting edge mental health treatment among a few, are not nearly as prevalent now. Further many of the arguably top journalists to join in Vice’s history have gone (many, but not all)
- sacks2k 6y ago
  "projects involving psychedelics and cutting edge mental health treatment among a few, are not nearly as prevalent now. Further many of the arguably top journalists to join in Vice’s history have gone (many, but not all)" These projects are why I started reading/watching Vice in the first place. I think the pandemic is going to be used by companies like Vice as an excuse for a failing business model.
- dirtydroog 6y ago
  Disney wrote off its investment in Vice: https://www.vox.com/recode/2019/5/8/18537617/disney-vice-write-off-400-million https://www.vox.com/recode/2019/5/8/18537617/disney-vice-wri...
- dillondoyle 6y ago
  FWIW Vice news is now on Showtime... I actually really enjoy their video reporting they do 2 15 minute stories and it's usually pretty unique and interesting reporting.
sacks2k 6y ago
"A company laying people off is not confirmation that the things you don't like about them are hurting their business" As already mentioned, they were going out of business long before the pandemic. The Pandemic is just an excuse for their failures. There are so many news sites dedicated to progressive content that Vice turned into. They lost their edge, competitive advantage, and I would imagine, most of their viewer base. This is why they failed.

A company laying people off is not confirmation that the things you don't like about them are hurting their business. It just might have more to do with the pandemic than their politics.

Clubber 6y ago

Perhaps, but regarding the pandemic, I would assume the pandemic would cause people to read more digital news than before, simply because they have more time to do so. For example, video game sales have had a really great last quarter.

cawlin 6y ago
I suspect many people are avoiding news plus video games act as escapism and for many a form of socializing.
whatok 6y ago
Consuming more of this product does not necessarily lead to an increase in revenue.
ardy42 6y ago
> Perhaps, but regarding the pandemic, I would assume the pandemic would cause people to read more digital news than before, simply because they have more time to do so. People may read more during the pandemic, but the advertisers are advertising less: https://www.reuters.com/article/us-health-coronavirus-vice-media-layoffs/vice-media-lays-off-155-employees-as-coronavirus-pandemic-wipes-out-ad-revenue-idUSKBN22R2N3 https://www.reuters.com/article/us-health-coronavirus-vice-m...: > Vice Media lays off 155 employees as coronavirus pandemic wipes out ad revenue > ...The cuts come as the news media industry suffers from an epic drop in advertising revenue as companies cut spending amid the pandemic. > Digital media companies, including Quartz and Buzzfeed, have slashed jobs, furloughed employees and cut salaries in an effort to survive the outbreak.
Voloskaya 6y ago
Vice doesn't make money from readers, they make money from advertisers, who have dramatically reduced spending since the beginning of the pandemic.
Taylor_OD 6y ago
People may be reading more news but if ad sales are down because revenue is down at companies who normally buy those ads that it doesn't matter how many views their new stories are getting.

spacephysics 6y ago

No, but declining readership is a good mark. 10% cut before pandemic (Feb): https://variety.com/2019/digital/news/vice-media-layoffs-250-employees-1203125890/ https://variety.com/2019/digital/news/vice-media-layoffs-250... Vice cancelled from HBO: https://www.businessinsider.com/hbo-canceled-vice-news-tonight-vice-other-networks-2019-6 https://www.businessinsider.com/hbo-canceled-vice-news-tonig... More cuts (Nov): https://www.wsj.com/articles/vice-media-to-shrink-workforce-by-as-much-as-15-as-growth-stalls-1541632597 https://www.wsj.com/articles/vice-media-to-shrink-workforce-... Many of the famous projects at vice, featuring war coverage, projects involving psychedelics and cutting edge mental health treatment among a few, are not nearly as prevalent now. Further many of the arguably top journalists to join in Vice’s history have gone (many, but not all)

sacks2k 6y ago
"projects involving psychedelics and cutting edge mental health treatment among a few, are not nearly as prevalent now. Further many of the arguably top journalists to join in Vice’s history have gone (many, but not all)" These projects are why I started reading/watching Vice in the first place. I think the pandemic is going to be used by companies like Vice as an excuse for a failing business model.
dirtydroog 6y ago
Disney wrote off its investment in Vice: https://www.vox.com/recode/2019/5/8/18537617/disney-vice-write-off-400-million https://www.vox.com/recode/2019/5/8/18537617/disney-vice-wri...
dillondoyle 6y ago
FWIW Vice news is now on Showtime... I actually really enjoy their video reporting they do 2 15 minute stories and it's usually pretty unique and interesting reporting.

sacks2k 6y ago

"A company laying people off is not confirmation that the things you don't like about them are hurting their business" As already mentioned, they were going out of business long before the pandemic. The Pandemic is just an excuse for their failures. There are so many news sites dedicated to progressive content that Vice turned into. They lost their edge, competitive advantage, and I would imagine, most of their viewer base. This is why they failed.