Trouble continues to brew in the digital media world. Today news broke that Refinery29 will be laying off 40 full-time staff members. WWD reports that staff were informed via an email that the site is restructuring because it is coming up “5 percent short on its 2018 revenue target.” The product, engineering, and videos teams will feel the brunt of the decision.
“These reductions, while difficult, were designed to enable R29 to achieve 2019 goals and successfully grow over the long-term,” a rep for Refinery29 told the publication.
Meanwhile the New York Post reports that Refinery might be pivoting towards more “evergreen” content. “R29 is recognized as a leader in video — from Shatterbox to Shady,” read the internal memo. “That said, the market is ever changing, so we are putting further emphasis on where we see sustainable growth — and that is in premium IP. This means we will continue to produce more award-winning programming (both short and long form) with less emphasis on the production of content with a short shelf life.”
The news comes only a few days after Lenny Letter — Lena Dunham and Jenni Konner’s female-centric newsletter-turned-website — shuttered for good. It’s getting rough out there for print and digitally-native publications alike.
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