It was only a few decades ago that the internet was born, and at the time – much like the computer itself – many critics thought that it was just a fad. Jump forward to today, and the internet is one of the most used tools in our world, making bloggers and gossip sites just as popular as their print counterparts, sending publishing houses scrambling to keep up.
In a move that sent shock waves through the publishing world, Time Inc. cut nearly 300 employees – 172 from the editorial side and 117 from the business side. The cuts were announced separately to each magazine.
Time Inc., which includes such magazines as Sports Illustrated and People, decided to make the cuts in order to keep up with the fact that readers are moving away from print and getting all their news online. The trend goes beyond magazines. It has been rumored that many large newspapers, including The New York Times, will be digital in the next 10 years.
Larry Hackett, People’s managing editor, gave the news to his staff, stating that the cuts were “brought upon us by some real cold hard facts when it comes to how this business is run, and how media is changing.”
Ann S. Moore, Time Inc.’s chief executive, said, “We need to continue to evolve to meet the cost pressures and challenges presented by our rapidly shifting industry.”
I’m anxious to see how other publishers react as the popularity of the webzine continues to grow. If we look on the bright side, going digital completely will do a wealth of good for the environment, and companies everywhere are going green. This could be another tech trend that surprises us all.
