for the Digiday Programmatic Marketing Summit, May 6-8 in Palm Springs.
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
Taboola’s next act: an AI answer engine for publishers
HuffPost UK, Reach and USA Today Co. are rolling out Taboola’s AI-powered answer engine to boost engagement.
USA Today Co.’s AI licensing deals drive ‘notable’ revenue in Q1, despite pressure on traffic and programmatic
USA Today Co.’s AI licensing deals helped drive meaningful year-over-year revenue growth in Q1, despite pressure on traffic and programmatic.
How former college athlete and Airbnb host turned Love Island fame into widespread success
Love Island star TJ Palma had a successful career before his fame, now he’s generating even more revenue for his businesses through creator content.