The Messenger's Demise: Founder Doubled Down on a Failed Business Model | Analysis

Jimmy Finkelstein lavished millions on a start-up he was convinced could buck the downward trend in digital media [The Messenger's Demise: Founder Doubled Down on a Failed Business Model | AnalysisÂ]( By Emily Smith, Natalie Korach, and Sharon Knolle The sudden shutdown of Jimmy Finkelstein’s The Messenger on Wednesday – eight months and $70 million after its launch — was the latest distress signal from the world of digital news media, where the business model of traffic-for-advertising has proved to be unsustainable. Despite the failures of BuzzFeed, Vice and Refinery29 in 2022, Finkelstein still spent profusely to launch a start-up he was convinced could buck the trend. He offered salaries that were two and three times market rate for journalists in order to fill a newsroom that could make an instant impact on the marketplace, offering supposedly apolitical news to a nation that was already consuming its news on TikTok. [Read More]( --------------------------------------------------------------- [Wrap Pro logo] Discover why entertainment executives and professionals rely on the WrapPRO platform daily for exclusive coverage, analysis, deeper reporting, and access to VIP events & screenings throughout the year. [Subscribe Today]( --------------------------------------------------------------- [Facebook]( [Twitter]( [Instagram]( [YouTube]( TheWrap | 2034 Armacost Ave Los Angeles, CA 90025 [Preferences]( | [Unsubscribe]( [LiveIntent Logo]( [AdChoices Logo](