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Sobering thoughts from @rasmus_kleis on the impact of the coronavirus on news business.
“The past is the past. It ain’t coming back. And if we don’t figure this out, the short-term cuts will be just the first of many subsequent rounds of layoffs.” https://pocket.co/xdThRf
“The past is the past. It ain’t coming back. And if we don’t figure this out, the short-term cuts will be just the first of many subsequent rounds of layoffs.” https://pocket.co/xdThRf
But tell us what you really think, @rasmus_kleis?
“To be brutally honest, I think a lot of news media won’t make it, including both legacy and new entrants, precarious as their situation already was...”
“To be brutally honest, I think a lot of news media won’t make it, including both legacy and new entrants, precarious as their situation already was...”
It’s important for news orgs to quickly get to grips with the picture @rasmus_kleis paints. We shared a set of recommendations with our clients on measures they should be taking to navigate these times
https://www.mdif.org/how-to-minimize-the-impact-of-the-covid-19-crisis-on-your-media-business/
https://www.mdif.org/how-to-minimize-the-impact-of-the-covid-19-crisis-on-your-media-business/
Most news orgs we speak to are seeing 30-50% loss in revenue. I’ve heard some talk about 80%. Unless they can quickly cut operational costs to match their revised forecasts...well, scroll up this thread and see what @rasmus_kleis said would happen.
