Salon and the Fight to Save the Internet’s Biggest Sites

When Salon launched in November 1995, the internet was full of possibilities. Websites were becoming destinations for news, opinions, entertainment and ideas. Publishing was no longer reserved for newspapers and television networks. Anyone with something interesting to say could build an audience.

More than 30 years later, Salon is ceasing publication. One of the pioneers of online journalism is calling it quits, saying its publishing model is no longer sustainable. Its departure raises a bigger question: what is happening to the internet’s best-known websites, and how are they trying to survive?

The economics have changed. Advertising is under pressure, search traffic is less dependable, social media referrals are shifting and AI is answering questions without necessarily sending readers to the original websites. For publishers carrying the cost of newsrooms, writers, editors and technology, the numbers can become difficult to manage.

Some are cutting staff and expenses to survive independently. Others are taking a different approach: buying established websites and brands with audiences already in place.

The New York Times is in exclusive talks to acquire Letterboxd for a reported US$330 million. The deal isn’t finalized, but the attraction is obvious. Why build a film community from scratch when millions of movie lovers have already gathered somewhere else? Penske Media has also agreed to acquire seven Vox Media brands, including The Verge, Eater and SB Nation.

The strategy reaches beyond publishing. Netflix has been licensing programming from established YouTube creators such as Mythical Kitchen and Nick DiGiovanni. Instead of starting every show from scratch, it can bring familiar personalities and audiences to its platform. Someone else has already done years of work building that following.

But buying a website and keeping its audience happy are two very different things.

Yahoo’s US$1.1-billion purchase of Tumblr in 2013 is a cautionary tale. After passing through Verizon, Tumblr introduced a controversial adult-content ban in 2018 that alienated many users. Automattic eventually acquired the platform in 2019 for an undisclosed amount, reportedly below US$20 million. Tumblr survived, but the experience showed how quickly corporate decisions can damage the relationship between a platform and its community.

Letterboxd faces a different situation, but the question remains. Its users joined for the movies, reviews, film diaries and community. Will they automatically embrace a new corporate parent in the form of The New York Times? They may simply want the Letterboxd they already know.

It’s a little like your mother getting married again. She might be delighted with her new husband, but that doesn’t mean you automatically accept him as your new dad. And if he starts rearranging the furniture and changing all the house rules, don’t be surprised if you start looking for somewhere else to spend your time.

Meanwhile, independent publishers and one-person operations are trying to hold the fort. They may have smaller audiences, but they also have fewer salaries, offices and layers of management to support. Lower overhead can make survival possible on much less revenue, although it doesn’t solve the problems of declining traffic, advertising or burnout.

I see two very different survival strategies emerging. Some websites are getting smaller to stay alive. Larger companies are getting bigger by collecting established internet brands and the audiences that come with them. Neither approach guarantees success.

The internet once promised that anyone could become a publisher. Now some are fighting to remain one, while others are buying up the places where people already gather.

You can buy a website, its archives, its technology and its audience data. But you cannot simply buy the affection people have for the place.

And, oh, by the way, to all those big media companies busy buying up websites: I’ve been doing this for 20 years. I come with an established brand, a few thousand stories and absolutely no billion-dollar price tag. Make me an offer. I’ll even throw in the archives.