Just three days ago I published a post outlining why I thought the "B2B industry as we know it is about to collapse." Included in that post was a reference to predictions by Outsell that the industry would experience further layoffs, a reference by me to the impossibility of selling a B2B company in this market, and an outline of my growing concern that Web-only companies were in as much trouble as print-based companies.
Well, I hate to say I told you so, but here's what I've seen in the few days since that post ...
Crain Communications is shutting one magazine and firing 50 editorial workers.
UBM is reorganizing its New Jersey-based Commonwealth Business Media unit and laying off 350 workers across the globe.
The RBI sale, and perhaps the entire market for big M&A deals in B2B, has fallen apart.
And one of the best-known blogging networks in the world is cutting pay.
In other troubling news, I recently learned that two of the most promising young journalists I know -- both experts in multimedia reporting -- are leaving the business. I understand why they're heading for the exits. I even applaud the move. And I have tremendous faith that these two women will continue to do fantastic work. But I have great concerns when the world of journalism can't find a home for two of its most promising young people. Read about it here and here.
Please don't misread what I'm saying here. I believe in the future of journalism, particularly B2B journalism. But it's become increasingly apparent that before the next era begins, we're going to continue to experience a very difficult present.
tags: journalism, b2b, media, trade press, magazines, newsletters, business media