Noteworthy story in The Independent by Ian Burrell pointing out the investments being made at Vice and Buzzfeed to fund original journalism, including full-on investigative reporting.
The opportunity that both organisations have identified is to serve the so-called “millennial” audience of twenty-somethings who have supposedly turned their backs on mainstream news providers.
I’m not sure they’ve proven they can withstand the riptide that makes it so difficult for producers of original journalism to make money reliably, but these two built significant revenue streams first and now are seeking to enhance audience loyalty, which should only strengthen opportunities to make money.
“The media is a big place and we don’t need anyone else to fail in order for us to succeed,” he [BuzzFeed’s UK editor, Luke Lewis] said. “We have our own way of doing things and it would not necessarily work for any other publisher.”