Variety is in bad shape, and everyone knows it, except perhaps Variety itself.
In response to an analysis by Ken Sonenclar of the failing trade this week at paidcontent.org, an insider who called himself Jason wrote an anguished, lengthy comment about why the trade hasn't got a clue and is on the road to ruin.
He writes: "Can Variety SURVIVE as is. Of course it can’t. There’s no revenue stream besides advertising. And it’s cratering. And the staff is big, even AFTER they cut it down…and working in a brick-and-mortar building is EXPENSIVE."
He laments: "There are some decent things on Variety.com, but nobody’s commenting. Why? And where are all of the links? And where’s the “bigness” to some items? These aren’t minor things that they should be scoffing at. These are real things. Bona fide things to do to change the culture. And most importantly, where’s the analysis? Opinion. Edgy columnists. Have you SEEN the blogs? Where’s the tiger of the bunch? Not just “Hey – I like this show.” But rather, meaningful stuff."
Many of these themes have been explored in WaxWord before, questioning what plan publisher Neil Stiles' had to turn around Variety's fortunes. (Neil Stiles, What's the Plan?)
And I expressed amazement at his comments when we shared a panel this fall that he wasn't really sure what Variety is anymore. (Variety's Stiles: 'I'm Not Optimistic About This Habit Called Journalism...)
Recently Variety lost its one big news-breaking gun, Mike Fleming, to the feared-but-hated deadline.com, and replaced smart people that the trade laid off with folks who have less experience and institutional knowledge. (Like former editor Mike Speier's replacement with a newsprint veteran, Leo Wolinsky, with no web experience and no knowledge of the entertainment industry.)
As regards Sonenclar's post, I also commented in that space about his observations about TheWrap. As I mentioned there, Sonenclar does not seem aware of the fact that TheWrap has not only one revenue stream - display advertising - but also revenue streams from syndication and events. Ken wrote me that I hadn't returned his call from a few months back - which was not intentional, Ken. We're just crazy busy over here.
But back to Variety. This insider cites all this issues and more, and I reprint it along with a personal invitation for Jason to be in touch. You seem to get it. Would be glad to meet you. And you are dead right about this: TheWrap would not have a reason to exist if Variety understood how to respond to the needs of a changing media landscape. But it's a time of historic change, and some things will fade while new things arise to replace them.
Here is the rather heart-rending comment/essay:
Jason writes:
Ken –
Good piece.
But it’s not an equal financial playing field, and that’s the problem Variety has. So your generally good points just need some tweaking.
I don’t have a dog in the fight. But you’re missing the key problem: overhead.
