Paper Magazine Fires Entire Editorial Staff

Paper Magazine Fires Entire Editorial Staff

Paper Magazine, a New York City-based publication known for its coverage of pop culture, music, and fashion, has recently laid off its entire editorial staff. The decision to let go of more than 20 employees was announced by the publisher, Tom Florio, who cited a decline in advertising revenue as the primary reason behind the layoffs. The downturn in advertising over the past year has affected numerous digital media publishers, including Insider and BuzzFeed News, which have also cut or shuttered titles in response to the challenging media buying climate.

Founded in 1984 by Kim Hastreiter and David Hershkovits, Paper Magazine gained significant popularity after its 2014 “Break the Internet” photoshoot with Kim Kardashian. However, the decline in social media-driven page views and the subsequent drop in ad revenue have severely impacted the magazine’s financial stability. With no robust reader revenue product, Paper Magazine found itself heavily reliant on digital advertising, which dwindled as traffic decreased.

The layoffs affected between 20 to 30 full-time staff members, with their last day being April 28. Editor-in-chief Justin Moran will remain with the company through May, but all editorial operations have ceased immediately. Although the publisher is not shutting down, it is looking for alternative options to cut costs and remain operational. There is at least one potential investor who has expressed interest in the publication.

The situation at Paper Magazine reflects the broader challenges faced by many digital publishers in recent years, as they struggle to adapt to the changing landscape of media consumption and revenue generation.

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