Another liberal media outlet is going down in flames. The disastrous financial troubles faced by one of America’s most historically iconic media outlets whose propaganda peddling appears to have finally caught up with it proved once again the timeless adage: get woke, go broke!
– Time Magazine announced cutting 22 roles across various departments due to a dwindling audience and reduced advertising sales.
– This is the second round of layoffs for Time Magazine this year, following a 15% reduction in union-represented editorial staff in January.
– The rise of the network society and instant access to information via the internet has rendered the legacy media increasingly irrelevant.
Time Magazine is now the latest victim in the slow yet inevitable demise of the legacy media. In a memo to staff, Time CEO Jessica Sibley informed staff that the magazine would be cutting 22 roles across departments, including editorial, technology, sales and marketing as well as their Time Studios.
The chief reason cited is their dwindling audience which has resulted in comparably dwindling advertising sales. This is not the first time this year that Time magazine has had to lay off a number of staff. In January, the company laid off 15% of its union represented editorial employees, becoming the latest major news outlet to slash its reporting staff. News of this came at the same time that the Los Angeles Times reported slashing more than 20% of their newsroom staff as they faced a massive financial crisis with the loss of advertising revenue, which corresponds to the steady loss of their audience.
ZeroHedge is reporting that the liberal journalist industry is in the midst of a severe downturn, with over 8,000 job cuts reported across the United States, the UK, and Canada in just this year alone. The first half of this year has already seen more than 1,000 layoffs from traditional newspapers, online media outlets, and even leftist nonprofit watchdog journalism organizations like Media Matters that had to cut over a dozen staffers and is currently being sued by Elon Musk for defamation.
Vanity Fair reported just a few months ago on Washington Post publisher and CEO William Lewis’ comments to the Washington Post’s staff. He told them that the Post has lost their audience and no one is reading them anymore. The Post had lost an astounding $77 million last year while at the same time losing half their audience since 2020.
The Post reportedly lost nearly a $100 million and half their readers in the last three years. The leftwing news outlet The Daily Beast cut nearly 70% of all unionized staffers. NPR has been laying off staff, and CNN has fallen to its lowest prime time viewership since 1991. The death of the legacy media was predictable because we are living in the midst of a rise of a new communicative world.
The network society has robbed the legacy media of the whole justification for its existence. Before the rise of the internet and digital phones and information, we were totally dependent on media organizations for learning what’s going on in the world. Corporate media outlets had a monopoly on information dissemination. Now, with the rise of the internet, that dependence has been completely broken.
We now have instant access to information completely independent of the legacy media. We saw this with the shooting of President Trump. The whole world IGNORED the legacy media and went straight to X for second-by-second instantaneous updates. The legacy media was caught completely flatfooted. The legacy media was telling us that Trump fell and was escorted away after loud noises. They were revealed to be irrelevant and dishonest sources, which is catching up with the dwindling and fading legacy media!
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