Vox Media, the company that owns far-left Vox and The Verge, will likely fall far short of its 2018 revenue target.
The Wall Street Journal reports:
The company, which owns websites including Vox, The Verge and SB Nation, had been targeting revenue of about $200 million in 2018, which would have translated into about 25% growth over last year’s haul of roughly $160 million, the people said. Instead, the company will be struggling to achieve double-digit percentage revenue growth, the people said.
Vox’s failure to meet its goals is no surprise. Early this year, the company announced layoffs of around 50 employees, mainly those who worked on video.
During the last few years, a number of left-wing news sources have seen substantially stalled growth.
In February, news broke that CNN would lay off a number of employees, mainly from its digital news side, after it failed to meet revenue targets.
Last November, left-wing BuzzFeed fired about 100 employees after the company fell 20 percent short of its revenue target.
“As our strategy evolves, we need to evolve our organization, too — particularly our Business team, which was built to support direct sold advertising but will need to bring in different, more diverse expertise to support these new lines of business,” BuzzFeed CEO Jonah Peretti said in an email to employees.
“Unfortunately, this means we have to say goodbye to some talented colleagues whose work has helped us tremendously.”
Vox Media’s The Verge was the former home of Sarah Jeong, who was recently hired by the New York Times:
.@SarahJeong joins NYT’s editorial board. She's the newest in a fab group of recent additions to @nytopinion: Michelle Alexander @susanthequark @JenSeniorNY @karaswisher @MCottle @JInterlandi @MaraGay @JyotiThottam @talmonsmith @lauren_kelley @ByAlexMarch https://t.co/B7OPWHRbsW
— NYTimes Communications (@NYTimesPR) August 1, 2018
Dumbass fucking white people marking up the internet with their opinions like dogs pissing on fire hydrants
— sarah jeong (@sarahjeong) November 29, 2014
oh man it's kind of sick how much joy I get out of being cruel to old white men
— sarah jeong (@sarahjeong) July 24, 2014
Despite these racist tweets coming to light, the Times did not fire Jeong.