Vice is abandoning Vice.com and laying off hundreds
VergeFEB 2024
Vice Plans Mass Layoffs, Stops Web Publishing
Image copyright: Mario Tama/Staff/Getty Images News via Getty Images
The Spin
Narrative A
Another flashy digital media content producer is on the cusp of disappearing forever. Vice's demise further proves that a business model reliant on appealing to a young audience and increased digital ad revenue can't succeed. These cuts could push Vice back to profitability and it'll be interesting to see the approach it takes.
Narrative B
This wasn't a failure of Vice's business model, it was yet another example of what happens when private equity overlords try to use a journalistic entity as their private piggy bank. Owners who are dedicated to strong journalism over trying to get rich off the backs of digital content creators could make a go of it, and benefit society, even in today's difficult media environment.