The Wall Street Journal reported today that Buzzfeed is on track to miss its revenue target for this year by a significant amount. Vice is also on track to miss its revenue target, but it's unclear to what degree. Across the industry, it is becoming more difficult for digital media companies to scale up. At the same time, Google Inc. and Facebook Inc. are taking up an ever-growing amount of space in the online ad market. The WSJ reports, "the so-called 'duopoly' is expected to account for a combined 63% of U.S. digital ad spending in 2017."
Read the WSJ article here.