Checking VICE now I can’t imagine they did all these cool documentaries and even a movie mocking them - the one in which their journalist was doing a vlog from the Jonhstown death cult. Amazing pieces. There should be some model to make press independent of clicks and licensing, to treat them as a public service, because we need good journalism. For a society, it’s like a pain response when it touches a hot frying pan. And reduction of it, replacement of it with social media influencers, the lack of trust to any source are probably ones of those things that lead us more and more towards hell.
I changed the link to nbcnews rather than businessinsider - I tested it but the paywall on there is sneaky.
The full memo is:
Dear Vice Team,
As we navigate the ever-evolving business landscape, we need to adapt and best align our strategies to be more competitive in the long term. After careful consideration and discussion with the board, we have decided to make some fundamental changes to our strategic vision at Vice.
We create and produce outstanding original content true to the Vice brand. However, it is no longer cost-effective for us to distribute our digital content the way we have done previously.
Moving forward, we will look to partner with established media companies to distribute our digital content, including news, on their global platforms, as we fully transition to a studio model. As part of this shift, we will no longer publish content on vice.com, instead putting more emphasis on our social channels as we accelerate our discussions with partners to take our content to where it will be viewed most broadly.
Separately, Refinery 29 will continue to operate as a standalone diversified digital publishing business, creating engaging, social first content. As you know, we are in advanced discussions to sell this business, and we are continuing with that process. We expect to announce more on that in the coming weeks.
With this strategic shift comes the need to realign our resources and streamline our overall operations at Vice. Regrettably, this means that we will be reducing our workforce, eliminating several hundred positions. This decision was not made lightly, and I understand the significant impact it will have on those affected. Employees who will be affected will notified about next steps early next week, consistent with local laws and practices.
I know that saying goodbye to our valued colleagues is difficult and feels overwhelming, but this is the best path forward for Vice as we position the company for long-term creative and financial success. Our financial partners are supportive and have agreed to invest in this operating model going forward. We will emerge stronger and more resilient as we embark on this new phase of our journey.
Thank you for your continued dedication to Vice and support during this time of transition.
Together, I am confident that we will overcome any challenges and achieve our shared goals.
Bruce
Lemmy is the best, thanks for taking the time to change the link.
That article is paywalled, but what Dixon wrote is cryptic.
“It is no longer cost-effective for us to distribute our digital content the way we have done previously,” Vice CEO Bruce Dixon said in the memo, which was seen by NBC News. Vice Media did not immediately respond to emails requesting comment on Thursday’s news.
Dixon added that the company would now “look to partner with established media companies to distribute our digital content, including news, on their global platforms, as we fully transition to a studio model.”
What is he even talking about? What is a studio model?
Maybe they’ll sell stuff to other platforms rather than be a platform. But I’m just guessing.
They’re going to only release direct to VHS content.
Sounds like they are going to transition to just video content because they can make more licensing videos than publishing content online and relying on ad/stream revenue.
Sounds to me like they’re going to sell their journalism (studio) to other companies rather than release it themselves (distribution). Kinda like if Netflix created a TV show but then sold the streaming rights to Disney.
