Why I Finally Too the Dip and Joined the Lions

The traditional content publishing model built around advertising is no longer viable.

Three years ago, you could generate revenue through selling advertising.

No longer.

Due to obvious strong headwinds to ad-supported publishers, it’s time we set out to change that.

The ad model is broken. And for that reason, payments cannot be based on ad inventory. This year has proven as much for publishers; ads cannot fund growing investment in content. Revenue from directly-sold ads faces structural headwinds and provides poor visibility, and programmatic ad revenue is too low to support a viable business.

There are many publishers that find themselves in exactly that position today, and it’s not a happy place to be. Many (most) of them have laid off content creators, and looked for low-cost solutions to produce populist content that delivers compelling titles, but that under-delivers on the follow-through.

With that in mind, it’s time we retool the system so that it is aligned with our aspiration to be a community-driven business. It’s time to simplify what had become a system that was difficult to explain and understand. And finally, it’s time to build a model where all contributors benefit.

Looking forward to building an even greater LEO together!

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