Gadfly
The Internet Broke the Media, and There's No Turning Back
Google and Facebook leave little room for competition and even less for error.
This article is for subscribers only.
The last few weeks have been a bloodbath for several digital media companies. The blame fell on the usual suspects: Google and Facebook are commanding more of people's attention and advertising dollars, which leaves little room for anyone else. This is true, but it's also not the complete picture.
The reality is that there's no single villain, nor a magic formula for success in a world in which the internet and smartphones changed everything. Media companies young and old are still coming to terms with this reality and must brace themselves for the possibility that they may fail even if they do everything right.