Apparently lying to all of the people all of the time in exchange for advertising revenue is a suboptimal business strategy:
The struggling US media industry is facing its worst year for job layoffs in a decade as news organizations continue to cut staff and close shop, according to a new survey.
The consultancy Challenger Gray & Christmas reported this week that media companies, which include movies, television, publishing, music, and broadcast and print news, announced plans to cut 15,474 jobs so far this year, of which 11,878 of which were from news organizations.
That is nearly three times more than the 4,062 cuts announced in the media sector in 2017 and the highest total since the economic crisis in 2009.
“Members of the media, especially journalists, have had a tough few years,” said Andrew Challenger, vice president of the Chicago-based firm.
“Many jobs were already in jeopardy due to a business model that tried to meet consumer demand for free news with ad revenue. As media outlets attempted to put news behind pay walls, in many markets, consumers opted not to pay.”
Interesting, is it not, that they can’t find subscribers… because literally no one actually wants or needs what they are offering. When the Devil already has Google and Facebook and Disney, the ability to further deceive people on a regional or local level is of severely declining marginal utility.