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- Friday 8th March: Media's money is in all the wrong places
Friday 8th March: Media's money is in all the wrong places
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Whatever your view on the wealth inequalities in today’s society and whether Millennials just need to eat less avocado toast to be able to afford a house, this is a very pertinent look at some of the problems bubbling under the surface in Hollywood. But much of it rings true for publishing and journalism too:
“Why should any CEO make more than the actresses whose labor and beauty they sell? Why should a second-year management consultant at every major consulting firm make more than every single writer I have ever known? It's not even a question of principle. People buy things: services and products and experiences and feelings. How is it that the creation and provision of those things is valued so little, when it is so essential?”
There have been a lot of stories recently about how writing rates and salaries have largely stagnated over the last few decades. I’ve also lost count of the number of times publishers have announced job cuts while execs and shareholders got generous bonuses and payouts. Anyway, I’ll stop there. Happy Friday, all.
Talking of value, Rosalind Hill has put together a comprehensive piece on finding new sources of value in their businesses to help them scale. “Unlocking value is hard because, more often than not, working in your business rather than on your business can blind you as to where the opportunity lies,” she points out. “Only by taking a step back can you identify how to drive value in your business.”
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Google have announced another core algorithm update, and this one looks like a biggie. Barry Adams writes that it’s obvious this update is an attempt to change the narrative about Google search, following months of negative commentary about the AI-generated spam clogging search results. Here’s what they’re changing and who it will affect.
Chris has spoken to Reuters Institute’s Rasmus Kleis Nielsen about a book he’s co-authored about news avoidance, which delves deeper into the causes of and solutions to news avoidance in greater detail. Although many reasons for news avoidance are societal and structural rather than as a direct result of media companies’ decisions, there are still actions we can take to mitigate it.
