Bustle Digital Group Shutters Input, Lays Off Staff at Mic

The downturn in the digital advertising market has affected yet another publisher, marking at least the third official round of layoffs prompted by the slowdown since May. On Monday, executives at Bustle Digital Group shared internally that by the end of the day the media company would be shuttering its tech title Input, which reports on the intersection of tech and pop culture, a source familiar with the matter told Adweek. Employees affected by the closure will be integrated into another BDG property or laid off. BDG also shared plans to lay off at least 10 staffers at pop culture outfit Mic, which it acquired in November 2019 for $5 million and rebooted in October 2021 under the leadership of editor in chief Shanté Cosme. In total, BDG will lay off 19 staffers, with the majority of the cuts coming from Mic and impacting mostly the editorial team, according to an internal email shared with Adweek. The company declined to offer a reason for the layoffs or closure, and it did not specify what percentage of the editorial workforce the cuts represent. "BDG has a large portfolio of publications, and we always want to make sure our focus is on the many titles that are working," a spokeswoman told Adweek. "On rare occasions, we will make changes that push resources and focus toward those that are working best for us." Employees learned the news over two separate meetings led by Jon Wilde, senior vice president of editorial, who oversees the portfolio of websites including Mic, Input, Inverse and Gawker. BDG hired Wilde from GQ in May as part of a broader strategy to create splashy editorial packages that the media company could more effectively sell advertising against. Recurrent Ventures Lays Off Entire Mel Magazine Staff The layoffs and restructuring come as the digital advertising industry continues to face stiff headwinds due to a variety of factors, including inflationary pressures that have stymied consumer spending and changes to the digital privacy landscape that have hamstrung the advertising capabilities of tech companies, such as Snap and Meta. The effects of the digital advertising downturn have largely spared publishers, compared to the broad layoffs buffeting the tech industry. Some, such as Insider, have slowed hiring, while others, such as Outside and Food52, have resorted to personnel reductions. But after a slow summer that saw publishers including The Washington Post announce year-over-year decreases in advertising revenue, further cuts could be on the horizon. At the halfway mark of this year, BDG was on pace to generate 35% more annual revenue than it did in 2021, though the publisher saw a downturn in demand over the summer, according to a source familiar with its finances. One explanation for the cuts could stem from the BDG advertising model, which generates around 75% of its digital advertising revenue from custom campaigns. The complexity and high level of mutual involvement make these difficult and expensive to cancel, but during times of economic uncertainty, marketers tend to prioritize performance advertising over brand initiatives, leaving media companies like BDG vulnerable to cost-cutting measures. Although brand partners are unlikely to cancel existing contracts, an absence of future business in the pipeline could have led BDG to take proactive steps to reduce expenses. ‘Retreating to the Core’: How 10 CROs Are Navigating Advertising Uncertainty

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BDG Is Shuttering Tech Title Input and Laying Off Staff at Mic

The publisher reported revenue gains earlier this year

Mark Stenberg

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Mark Stenberg