https://www.vox.com/recode/2019/5/8/18537617/disney-vice-write-off-400-million
Besides Vice, interesting piece on new digital media valuations in general.
All of those companies have different stories and different particulars. The through-line is that a few years ago, all of them were confident that they were going to shoot up in value, because they knew how to reach young audiences by exploiting the big tech platforms — in particular, Facebook and Google.
Instead, Facebook and Google have hoovered up the majority of digital ad revenue — the money the new publishers expected to get once they reached scale. And publishers that had expected Facebook and Google to rely on them for content have learned that Facebook and Google don’t really need them, after all.
Submitted May 10, 2019 at 04:36AM by blorg http://bit.ly/2HhrlJx
