The future of publishing belongs to those that focus on niche areas partly because the internet has reduced distribution costs to zero, according to Ben Thompson, author of the daily tech and media analysis note, The Stratechery.
What's happening: Thompson argues in his email to subscribers that the recent layoffs at BuzzFeed underscore this point.
"Success used to come from being broad-based with a geographic monopoly. The content of the vast majority of newspapers was largely duplicative (as the success of the wire services proved). On the Internet, though, success comes from being narrow while reaching the whole world. It is the exact opposite."