Summary:
For many years, social media companies like Facebook, Google and other online competitors are challenging the influence of traditional magazine publishers in the world. After executive senior editors of top international magazines like Vanity Fair, Time, Elle, Glamour, and Rolling Stone have stepped down, it seems like the prediction of the fall of traditional media is becoming a reality. As people are reading less, publishers are taking an “anything goes” approach” in search for new revenue streams. Now Time is featuring viral videos of animals and Hearst is now partnering with Airbnb on a new magazine.
Vocabulary and Sample Sentences:
Chauffeur n. v. person hired to drive a private rented vehicle
- In the 90s, magazine editors in chauffeured town cars told the nation what to wear, what to watch, and who to read.
- My client in Bangkok arranged a driver to chauffeur me around during my business trip.
Stake/s n. a share or interest in business
- Jann S. Wenner, a titan of the magazine industry sold his stake in Rolling Stones.
- My friend who has a small stake in Tesla is now a millionaire.
Monopoly n. a company or group having exclusive control over the market
- For many years, magazines have had a monopoly on readers and advertising.
- My favorite board game as a child was Monopoly.
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