For the media, this is the best of times and the worst of times. Tina Brown put it best recently at a conference when she said that journalism is having a “very, very pathetic moment.” As the outgoing DailyBeast
editor, she ought to know. “The digital explosion has been so explosive,” she said. “There isn’t a single place where the digital thing is a profit thing. The disruption hasn’t brought a business model.”
But the devastation the digital explosion has wrought is also clearing the path for innovation and newer models. The money may not be there to the extent it used to be. After all, the Graham family’s Washington Post
, once worth billions, was bought by Amazon CEO Jeff Bezos for a mere $250 million this year. But 2013 has nonetheless shown us that there are signs of life elsewhere in the industry.