Save 50% on a 3-month Digiday+ membership. Ends Dec 5.
There’s a struggle going on in Hollywood right now between old and new media. Variety, the 107-year-old trade magazine, is not only having trouble finding a suitor, but has also come to the conclusion that its $40 million price tag may be too much.
The problem, like many traditional publishers trying to keep its heads above water, is that there are now many online-only trade publications, like Nikki Finke’s Deadline Hollywood, HollywoodLife.com and to a certain extent TMZ, who offer the same (and sometimes more exclusive) content that doesn’t reside behind a paywall. It’s the same story that’s playing out across industries. It’s hard to imagine that if you were to reinvent Variety today that you’d start with a print product.
Digital properties are more nimble than a weekly and trade publications are not immune to the changes in the media landscape. If Reed Elsevier wants to sell Variety, it needs to prove why a legacy media company can work in a digital world. And as the Post points out, dropping the price may be the only way out.
More in Media
AI-powered professional learning and the battle vs. ‘workslop’: Inside Deloitte’s Scout
Deloitte last month launched Scout as part of its Project 120, the company’s $1.4 billion investment in professional development.
‘The Big Bang has happened’: Reach gets proactive on AI-era referrals, starting with subscriptions
This week, the publisher of national U.K. titles Daily Mirror, Daily Express and Daily Star, is rolling out its first paid digital subscriptions – a big departure from the free, ad-funded model it’s had throughout its 120-year history.
Arena Group, BuzzFeed, USA Today Co, Vox Media join RSL’s AI content licensing efforts
Arena Group, BuzzFeed, USA Today Co and Vox Media are participating in the RSL Collective’s efforts to license content to AI companies.