Declining digital adrevenuesand a shaky economical horizon push major news program collector Flipboard to cut nearly a twenty-five percent of its full stave last week . Flipboard CEO Mike McCue confirmed the layoff in a recent Axiosreport .
“ Yes , we restructured due to the bad economy and problematical outlook for the digital advertizing clientele , ” McCue differentiate Axios . “ As a result we had to make the painful decision to let 24 members ( 21 % ) of the squad go . We ’re doing everything we can to support them through this transition . ”
Flipboard launched 12 days ago with thevisionof becoming the , “ one place to find out the stories for your twenty-four hour period , ” amid a rise cacophony of pick explode during the other fluid economy . The companionship worked to achieve that goal through a mix of partnerships with web publisher and scraping the open internet , a practice that briefly landed them insome legal red-hot piss .
Image: Flipboard (Getty Images)
Much has changed since 2010 though . On the curation side , Big Tech backed aggregators like Google and Apple News have come to dominate the distance and threaten smaller services like Flipboard . late data also suggest a produce section of consumers are on the face of it burned out on news . A late Reuters Institute for the Study of Journalismpollfound 38 % of people surveyed said they often or sometimes avoided read the word . That ’s up from 29 % in 2017 . frankly , who can blame them ?
unfit still , the wavering digital advertising space go on to take a price on content companies . Meta , once seen as a post horse child for never ending growth , lost$250 billion Charles Frederick Worth of value in a unmarried day to begin with this yr following poor advertizement growth numbers . Those same issues get Snap to record theworst growthin its 11 year account . Not long after that disconsolate day , Snaplaid off1,000 of its staff . Media investment house GroupMpredictsan ad taxation growth industry - wide of just 8.4 % in 2022 , down significantly from 24.3 % development last year .
Flipboard did not directly answer to Gizmodo ’s petition for comment .
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