The Buzz about BuzzFeed

As a lifelong news hound, it was depressing to learn that BuzzFeed is shutting down its Pulitzer Prize-winning news division because it can't turn a profit.It makes you wonder, if BuzzFeed can't make it, what hope is there for other news organizations? It’s the latest media company to announce major layoffs. NPR, The Washington Post and Insider have all recently cut jobs and shows.?

The decline of digital media has been attributed to many factors. One is the rise of social media platforms as the primary source of news for many people. This led to a decline in advertising revenue, as did the increasing use of ad-blockers. While it's true that digital media companies are facing challenges, it's important to note that this does not mean the end of journalism. By adapting to the changing landscape, some media platforms are still surviving, if not thriving.?

Subscription-based models, where readers pay for access to high-quality journalism has proven successful for outlets such as The New York Times,The Washington Post and hyperlocal platforms like The Berkeley Scanner. By reporting on stories readers can’t get anywhere else, these organizations continue to garner subscriptions and revenues.

Another trend is the use of innovative technologies, such as artificial intelligence and data analytics, to enhance the quality and delivery of news content. These technologies can help to personalize news delivery, improve the accuracy of reporting, and increase engagement with readers.

Ovis is adapting to the landscape with its revolutionary token model that allows individuals and their communities to support individual journalists and fund specific stories.?

Despite these dark days in digital media, it does not mean the end of news. Yes, digital media companies are struggling but there are still opportunities for quality journalism to thrive in the digital age. Being creative, adaptive and more open to the idea of smaller profit margins may be the key to keep going in the shrinking business of news.