First Look Media launches new global news site, but search for a business model remains
Reported.ly will be led by former NPR social media strategist Andy Carvin, and be staffed by a diverse group of journalists including Asteris Masouras
The ews organization founded by Pierre Omidyar has launched a new global news site, Reported.ly. The new site will be led by Andy Carvin, formerly with National Public Radio, and have a nice line-up of staffers and contributors: Malachy Browne formerly of Storyful, as Managing Editor and Europe Anchor, P. Kim Bui as the site’s West Coast producer, Wendy Carrillo as West Coast anchor, Marina Petrillo as East Coast producer, and Asteris Masouras, who just about everyone follows on Twitter.
The line-up of young, but experienced journalists, are bound to produce interesting material. But what wonders is what the business model is, and how this site, along with The Intercept, ever intend to create a viable business.
The traits which successful web media properties employ to attract traffic and, therefore, ad dollars, will be eschewed by reported.ly – that will certainly result in better content and more credibility, but will that create a sustainable media outlet?
“In the coming weeks and months, we’ll roll out our online coverage of news events around the world,” Carvin wrote on Medium. “Before we do so, we felt it was important for you to get a sense of where we’re coming from, so we wanted to share what we consider to be core values. We’ll hold ourselves accountable based on these values, and we hope you’ll do the same to us, too.”
What follows are a list of worthy values (though two seem to contradict each other – for instance, Carvin says they will sometimes report unconfirmed information, but then says they would rather be right than first). But what it plans to report remains vague, as does the business model that underpins everything at First Look Media.
The new venture will use social media to compile news stories, and publish those stories to social media – with its URL used mostly to promote the new media brand (oh, oh, there is that word again).
The launch of this new venture comes only weeks after the implosion of the Matt Taibbi-led launch, Racket. Taibbi left to return to Rolling Stone, and soon thereafter the staff was dismantled.
First Look Media’s launch, first announced in October of last year, is incorporated as a 501(c)(3) tax-exempt charitable enterprise.