Telegraph CEO Nick Hugh out | Layoffs at Pink News and Business Insider
And we tally up total news media job losses so far in 2024
Welcome to your daily newsletter from Press Gazette on Friday 26 January.
‘Batten down the hatches’ was the prevailing news industry sentiment of 2023 and the stormy weather shows no sign of abating so far in 2024.
Two largely ad-funded online newsbrands are the latest to reveal major rounds of redundancies with Pink News (full story) and Business Insider (full story) together cutting up to around 80 jobs.
US-based Business Insider should benefit from a growing economy. In the UK and the US online advertising is a growing segment.
But the share of online advertising going to publishers is shrinking and alternative revenue streams are failing to make up for the shortfall.
Pink News formerly made most of its money via revenue share deals from videos watched on social media platforms. That money has dried up as Facebook has ditched the news industry and stopped Instant Articles. Publisher revenue shares on Snapchat have also sharply declined.
Business Insider's subscription business is clearly not growing fast enough to justify the expense of a 500-strong newsroom.
We explored the themes driving these industry changes earlier in the week.
Matthew Scott Goldstein wrote for us about the existential threat to publishers posed by the rise of generative-AI-powered search platforms such as Google SGE.
And Jim Edwards has revealed how policy changes led by the UK Information Commissioner have diminished publishers' ability to persuade readers to accept the cookies which are vital for advertising revenue.
Meanwhile, the Movement for an Open Web has urged publishers to fight the great Google Chrome cookie switch off currently in progress. They say it is not a done deal and urged publishers to tell the UK Competition and Markets Authority why they think it is a bad idea for Google to be allowed to further strengthen its £10bn a year UK dominance of search and online advertising.
Overall, we've tracked 650 news media job cuts so far this year (and they are just the big ones that we know about). We detail them all here.
If you are doing the firing, or have just been fired, at least take solace in the fact you are not alone.
And remember that journalists are highly skilled individuals who tend to do well in whatever field they end up in. It is something I have seen happen again and again whether people stay in media or try another career.
Christina Patterson wrote for us in 2019 about how she bounced back after being fired from The Independent in 2013. She's now a broadcaster, published author, non-executive director and coach. The chap who fired her hasn’t done too badly either. (‘Your starter for ten’ - can you name him?).
Have a great weekend.
Jobs of the Week
Global Media & Entertainment - Broadcast Journalist (London)
Adobe - Enterprise Account Executive - Strategic Engagement Group UK & SSA - Telco, Media, Travel and Gaming (London)
Site Impact - Media Buyer (Cocount Creek, Florida)
New from Press Gazette
News media job cuts 2024 tracked: Year starts with at least 650 redundancies
Big losses at likes of Los Angeles Times, Sports Illustrated and Mediahuis Ireland in the first weeks of 2024.
Business Insider planning to cut 8% of staff worldwide
The move comes less than a year after the Axel Springer-owned title cut 10% of its staff in the US.
Telegraph Media Group CEO Nick Hugh is out as takeover uncertainty continues
Anna Jones, a former Hearst UK CEO, will succeed Hugh.
Pink News blames ‘unpredictable financial year’ as nine jobs put at risk
The LGBTQ+ publisher said it has changed priorities for growth, leaning into video.
News in brief
Amid turmoil at the Los Angeles Times, Terry Tang has been appointed the first female editor in its 142-year history (at least on an interim basis). Tang, most recently editor of its editorial pages, said: "The most urgent job now is to reorganize the newsroom — and reset a little bit." (Los Angeles Times)
The i's chief political commentator Paul Waugh has confirmed he is standing to represent Labour in the safe seat of Rochdale. Waugh said "people from all sides of politics know I’m a straight dealer. But I can’t stand by to see the Tories ruin the NHS". (Manchester Evening News)
i editor Oly Duff has written to readers in response to emphasis its non-partisan approach: "Remember: only one UK national newspaper has never supported a political party – and never will." Waugh is now on leave from the title. (The i)
Almost 90% of news websites now reportedly block AI bots, forbidding their content to be scraped for training purposes. But right-wing titles like Breitbart and Newsmax are more likely to allow them. (Wired)
Vice’s Refinery29 and Buzzfeed’s Tasty are reportedly up for sale. (Wall Street Journal)
Journalists at the New York Daily News walked out yesterday to protest staff cuts and a new policy requiring them to get advance approval for overtime. Actor Alec Baldwin supported them on their picket line. (New York Times)
The NCTJ has launched its latest Journalists at Work survey, which will build a picture of how the industry is evolving following previous surveys in 2002, 2012 and 2018. Find out how to fill it in here.
The NCTJ is also creating an ambassadors’ group of journalists, who it said will advocate for the value of quality, trusted journalism at events. (NCTJ)
Nadine Dorries' Friday night programme on TalkTV has reportedly been axed. Dorries said she is in discussion with the News UK-owned channel about securing a new contract. (Mirror)
Former Web Summit and Wikimedia Foundation chief executive Katherine Maher has been appointed chief executive of NPR to lead it "through an era of declining broadcast listenership, financial uncertainty and technological turbulence". (NPR)
RTÉ News at One presenter Bryan Dobson is stepping down after 37 years at the Irish broadcaster, in what the Taoiseach described as "the end of an era". (RTE)
Previously on Press Gazette
Reach reveals ‘three pillars’ that prepare it for end of third-party cookies
Why news publishers should fight to stop rollout of Google Privacy Sandbox
Culture Secretary wants new Telegraph sale investigation after corporate structure changes
Huffpost UK increases payment terms to 60 days amid ‘cash flow’ issues
Publishers mull ‘consent or pay’ in response to ‘reject all’ cookies button policy