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• #Jim bankoff vox media drivers#

CNN Digital recently parted ways with 40-something employees as part of a restructuring. While layoffs are commonplace in the media industry, Vox Media had gone more than 12 years without a major round of cutting. “However, staying ahead of the pack in this business requires not only relentless execution, but also making tough decisions like this, doing what we must when necessary to maximize opportunity in places with the clearest positive outcomes.”Īt an industry conference last week, Bankoff said the company would be moving away from producing Facebook-native content, citing “its unreliable monetization and promotion.” “We are in a strong place creatively, journalistically, and financially,” he said.

The company will continue to invest in newer initiatives that are doing well, including podcasting and the production arm Vox Entertainment. In the memo, Bankoff made clear that Vox Media is making these changes to ensure the continued strength of the company, which has seen growth in both audience and revenue. “We are cutting Racked’s native social video and shopping programs, but will continue to support the rest of their incredible journalism and talented team of reporters.” The spokesperson confirmed, though, that some Racked staffers are being offered editorial roles at other Vox Media brands. “The Racked brand is not folding,” a company spokesperson said. While a rumor circulated within the company and online that shopping and style brand Racked is closing, the company said that’s not the case.

#Jim bankoff vox media drivers#

We commit to treating all those affected with professionalism, compassion and dignity.”īankoff said that initiatives around native social video, while “growing successfully and surpassing audience growth goals, won’t be viable audience or revenue growth drivers for us relative to other investments we are making.” He cited “industry changes over the past few months and our long-term budgeting process” as contributing factors. We know it has a big impact on the lives of our co-workers who will be leaving, as well as on the morale of those who remain. He continued: “Our leadership team and I took this decision very seriously. Vox Media is backed by top tier investors including Accel Partners, Comcast Interactive Capital, Khosla Ventures, General Atlantic, and Allen & Company.Ewan McGregor Feted at Karlovy Vary (Love)Fest: "I'm So Fortunate to Do What I Love and Love What I Do" The company's lines of business include the publishing platform Chorus, Concert, Vox Creative, Vox Entertainment, and the Vox Media Podcast Network. Vox Media's brands are built on Concert, a publisher-led market place for advertising, and Chorus, its proprietary content management system. Vox Media currently operates as the parent of eight distinct media brands: -The Verge (Technology and Culture), Vox.com (News), SB Nation (Sports), Polygon (Gaming), Eater (Food and Nightlife), Racked (Shopping, Beauty and Fashion), Curbed (Real Estate and Home), and Re/code (Tech Business). The network now features over 300 sites with over 400 paid writers. by Jerome Armstrong, Tyler Bleszinski, and Markos Moulitsas and based in Washington, D.C. and New York City. The company owns and operates its offices in Los Angeles, Chicago, Austin, and San Francisco.

Vox Media was founded on Jas SportsBlogs Inc. Vox helps you cut through the noise and understand what's driving events in the headlines and in our lives. Vox Media is a prestigious media company that believes in the power of going deeper to connect with global, passionate, curious audiences.