Digital News Outlets Are In For A Reckoning

Great expectations attended digital journalism outfits. Firms such as BuzzFeed and Mashable were the hip kids destined to conquer the internet with their younger, advertiser-friendly audience, smart manipulation of social media and affinity for technology. 

But a brutal winter is setting in. BuzzFeed will probably miss its revenue target, of $350m this year, by 15-20%, and is to lay off 100 of its 1,700 staff. Vice is also expected to fall short of its revenue target, of $800m. Mashable, a once-trendy site valued in 2016 at $250m, in November agreed to be sold for $50m to Ziff Davis, a print-turned-digital publisher.

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