![]() In the early years of social media, publications tried to play nice with platforms, seeing the audience potential as irresistible. Publishers' rocky marriage with social media But the tech companies pocketed most of the advertising dollars, something that has become even more pronounced as a pullback in ad spending wallops both the media and tech sectors. In other words, news outlets used social media to reach people. "But what we saw is that the tech platforms, specifically Google and Facebook, ended up controlling that digital advertising infrastructure." "The news industry didn't really have a profit model other than trying to get eyeballs and earn digital advertising revenue," said Courtney Radsch, who studies technology and media at UCLA. The juggernaut platforms have always been something of a blessing and a curse to publications. The shift from social media that Smith mentions is another pain point for the industry, as chaos engulfs Twitter under Elon Musk, and other legacy social media platforms, like Facebook, lose their luster for news sites. Smith's note of optimism is perhaps a vocational requirement, since he is again at the helm of an online news site, Semafor, which launched last fall. "But readers and viewers still want to understand the world." "I think the current moment is the product of both a huge shift away from social media, and a tough economy," said Ben Smith, a former editor in chief of BuzzFeed News and author of "Traffic," a history of the rise and fall of BuzzFeed. The turmoil caused by a historic slowdown in digital advertising is sparking worries among staff at online media companies about further and possibly deeper cuts beyond the mass layoffs and abrupt closures over the last few months. And there are no signs of when the punishing developments will let up. It has been trying times for digital media. ![]() Gawker went out of business, again, in February. Vox recently laid off nearly 10% of its staff. Vice is slashing staff and closing its flagship broadcast program, Vice News Tonight.
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