Digiday reports that Forbes, in a move "symptomatic of an industry in change," is shifting from magazine to event production, firing print people and hiring event ones.
What's behind the carnage?
A new study by Reuters suggests readers are done with digital content—there's too much of it, both good and bad—and that content shock is slaying the golden goose digital publishing represented 20 years ago.
Today's readers spend only eight minutes a day on publisher's content—and most (92%) are unwilling to pay for it. That's made it nearly impossible for publishers, reliant on advertising income, to sustain profits—no matter their investments in cool platforms and reputable content.
"The content bubble will eventually burst unless more robust business models are found," says Rasmus Kleis Nielsen, coauthor of the study.
One "more robust business model" may in fact be events, where margins hover around 30%.