Publishers are facing declining traffic from traditional sources and are adapting by creating new revenue streams. Wired is expanding its subscription model with higher-priced offerings and new newsletters. The company's global editorial director noted that these changes are in response to a significant decrease in traffic from platforms like Facebook and Google. Other media organizations are following suit by developing owned channels, newsletters, and events. Business Insider is refocusing its strategy on events and video, while Bustle Digital Group reports profitability through events, indicating a shift in the industry.
Wired is expanding its subscription offering with several new products at higher prices, including livestream AMAs with editors, audio narration for articles and new newsletters.
Katie Drummond framed the changes as a response to the 'traffic apocalypse,' citing the decline of Facebook traffic and Google search referrals.
More media companies are investing in owned and operated channels and direct-to-reader products with newsletters, apps and events businesses.
Business Insider is investing in events, video and new products, including an AI-generated audio briefing, while pulling back from areas that were sensitive to search traffic.
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