I don’t believe the sky is falling in financial publishing.
The lay offs we have seen in the industry over the last six months of 2022 have different causes.
The 5 causes I explain in this video are:
- The post covid hiring boom
- The stock market malaise and its impact on conversion rates (for a deeper dive on that check out my conversation on How the markets impact media & conversions.)
- The basic reality that large, scaled up companies are impacted more by downturns than smaller, leaner publishers..
- One of the larger publishing ecosystems changed it’s internal strategy laid off duplicate staff.
- More external competition in media channels and for key staff. (I explained this aspect a bit more in my State of Finpub 2022 presentation at FMS a few months ago.
I also briefly wanted to remind everyone of the larger demographic picture and why the broader retail investor and retail trader customer segments are on still in a generational bull market.
There’s no doubt there is industry has risk on the ad network side, which is the primary traffic source. In my mind the worst case scenario long term on that side is it could force us to pivot marketing models not that it kills us as an industry.
The future is still bright, even if the short term market cycle is bringing difficulties.