The Atlantic is expanding its newsroom and plans to add up to 100 employees to its newsroom over the next twelve months, hiring a mix of writers, editors, and podcast producers, among others.
The Atlantic plans to add as many as 100 employees to its staff over the next 12 months, its president, Bob Cohn, told employees during a staff meeting on Wednesday. The hirings will represent a 30 percent increase in personnel at the publication, with half the jobs going to newsroom employees.
“We have great ambitions to grow The Atlantic and make it better and these are the ways we think we can do it,” Mr. Cohn said in an interview on Tuesday.
The ramping up comes six months after Emerson Collective, an organization run by the philanthropist Laurene Powell Jobs, acquired a majority stake in The Atlantic.
Meanwhile, Vox is laying off about 5% of it’s staff, mainly people devoted to creating video for social media.
In a memo to staff Wednesday morning, Vox Media CEO Jim Bankoff announced plans to lay off around 50 employees, with the Racked, Curbed, SB Nation, and Video Services teams “bearing the biggest impact.”
Additionally, he said that around 12 other employees will be offered “role changes.” The cuts amount to around 5 percent of Vox Media’s staff.
“As a result of our decision to wind down certain initiatives, we’ll be saying goodbye to some of our talented colleagues who have made valuable contributions to our success,” Bankoff wrote, calling Wednesday “one of the toughest days we’ve had as a company.”
Here’s what Financial Times has to say about the current state of digital media.
An uncertain ad market has contributed to the fears, with Google and Facebook becoming an effective duopoly: the two companies accounted for 63 per cent of all US digital advertising in 2017, according to eMarketer, the research firm. Concerns have been amplified by recent changes to Facebook’s news feed algorithm: it will no longer prioritise news sources and will survey its users to rank publications by their “trustworthiness”.
The full impact of these changes has not yet been absorbed by the likes of BuzzFeed and Vox Media, which have used the social network to distribute their content. But analysts are not optimistic that the shift will be good news for many news providers.
“The news feed changes will have the most negative impact on publishers that rely primarily on Facebook for referral traffic and those companies that specialise in producing and distributing sponsored videos for Facebook,” says Christopher Vollmer, global entertainment and media advisory leader at PwC, the professional services firm. Larger publishers and “fan-driven brands”, whose active audiences drive more of their own engagement and support a greater diversity of revenue sources, “will be much less impacted by the change”, he adds.