No Hope in the New Media World

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By Noah Davis Comment

155113__newsies_l.jpgOver on The Big Money, Lesley M. M. Blume — who penned an article about Conde Nast’s Web struggles — is back with a story detailing the trials and tribulations of “Media’s Lost Generation.” The takeaway: “Today’s journalists… have been left to wonder whether the very idea of ambition makes sense anymore.”

Blume speaks with experts ranging from Michael Caruso (“Today the goals are different. It’s mostly about self-expression.”) to FishbowlNY’s Glynnis MacNicol (“Right now, the definition of success in the media is not to be unemployed.”) who offer their thoughts on the current state of the rapidly changing industry.

The author quotes one anonymous analyst at a private equity firm who points out that what we, the media, see as successful sometimes isn’t:

“Take the Huffington Post, for example. They don’t pay their writers, and who knows what the value of the company is. That company might not exist five years from now. It’s the big success story, and it’s not successful.”

Well, we never thought about it like that.