I’m happy for you because you’re happy, Steven. I have to admit I don’t fully understand what this means except that some corporation is now paying another for what has been happening all along. So I guess it means that Medium was investing speculatively in Backchannel. But rather than finding ads/sponsors directly, it has now sold that opportunity to CondeNaste.
And that either means Medium thinks the cash (or maybe it’s a regular payment for use of the platform) is worth more than the ad revenue it would get for the publication by itself. Or that the model of major publishers using (and paying for) the platform needs to be demonstrated so that others will come and launch publications on Medium for similar terms.
I guess that’s a decent future for Medium: major publishers paying to distribute higher-brow online channels on the platform. It is kind of a mini-Facebook strategy, in that respect, where former decentralized web-based publications come to a centralized platform. For them, it’s a defense against the fact that people don’t come to their home pages anyway (they come in sideways through social media). And for Medium/Facebook, it’s a way to establish claims to the new social-platform-based territorial map of online content.
I’m just not sure if I like it. It could be me being an older, web-trained viewer. But the promise of the open web still holds tremendous sway for me. I like the idea of each online magazine being organized and formatted uniquely, rather than part of the larger streams. Tide pools instead of rivers or tributaries.
But enough thinking. Congratulations, Steven. You are the best and I’m anxious to see how this works.