The layoffs that hit startups in the past few weeks are extending to traditional media companies. Rumor has it that MTV and SONY are set to announce layoffs tomorrow, hoping that the news will get lost in the shuffle of tomorrow’s US election.
Now is the best time for companies to sharpen their focus online; that is after where consumers are headed. Moreover, as the economy shrinks, the flight to quality will only accelerate from offline to online media. This is something we called for early on this year, it’s only gaining steam now. But due to the media malaise, that won’t happen.
When you consider that NBC is set to cut spending by $500M, you sort of realize that for digital executives, the grass is greener on the other side, no matter how uncertain the other side might appear.
“I believe in my heart that this is a best time to start, run, or invest in digital companies and I am very excited about moving on to my next challenge,” wrote Chief Digital Office George Kliavkoff in a memo to colleagues when he announced his resignation from NBC.
He’s right. While Ross Levinsohn and Jon Miller left FOX Interactive and Time Warner’s AOL to run a venture capital fund, the jury is out on Kliavkoff’s plan. Like Levinsohn who helped build FOX Sports into a powerhouse, Kliavkoff previously helped morph MLB.com into one of the leading offerings of any sports media organization…
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