Business
The Rise and Struggles of The News Movement: A Cautionary Tale
Explore the journey of The News Movement, highlighting its rise and the challenges it faces in today’s media landscape. This cautionary tale delves into the complexities of journalism, innovation, and the quest for credibility in a digital age.
The Rise and Struggles of The News Movement
In late 2020, an ambitious news start-up emerged with a daring vision aimed at capturing the attention of Gen Z audiences. This innovative company sought to produce content that was native to social media platforms, and it had plans to expand its reach by acquiring established brands such as The Daily Mail. The founders envisioned creating what they called “the Amazon of News” within a mere five years. A pitch deck that was later reviewed by The New York Times proclaimed, “We must create a movement — a movement hungry for facts and thirsty for truth.”
This start-up eventually became known as The News Movement, co-founded by Will Lewis, a seasoned media executive who took the helm as chief executive of The Washington Post in the following year.
Fast forward to early June, Mr. Lewis announced the establishment of a new division within the newsroom, intended to focus on “social media journalism.” This initiative aimed to rejuvenate the company’s struggling finances. However, the announcement coincided with the departure of the paper’s executive editor, which sparked internal discord and raised serious questions regarding Mr. Lewis’s leadership and ethical practices.
Despite its grand ambitions, The News Movement serves as a cautionary tale about the challenges of monetizing the vast audiences that consume news on social media platforms like TikTok and Instagram. Since its inception in 2021, the organization has faced considerable difficulties in turning a profit from its over one million social media followers, according to interviews with both current and former employees, as well as documents obtained by The Times.
In 2023, the final year of Mr. Lewis’s tenure at the company, The News Movement reportedly incurred significant losses, leading to substantial staff reductions. Furthermore, this year marked the end of a crucial partnership with The Associated Press, a decision that could have far-reaching implications for the company’s future. It’s worth noting that Mr. Lewis retains an undisclosed stake in The News Movement, further complicating the narrative of its ongoing struggles.