Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sarah Grillo/Axios

Digital publishing is doing something it hasn't done en masse since the dawn of the Internet: make money. 

Why it matters: Business Insider, Vox Media, The Information, Axios and Politico all turned profits in 2019, in several cases for the first time ever, sources tell Axios. Others, like The Athletic, BuzzFeed and Vice, say they are expecting to do so this year.

The big picture: Five trends are working in digital media’s favor: 

  1. A global wave of new copyright laws means that platforms are likely to have to start paying publishers for the right to carry their content, even if it's just a linked headline or bit of text.
  2. Some tech companies are getting ahead of it. Facebook is paying select publishers up to multi-million dollars annually to distribute their content. Platforms like Apple, Twitter and Snapchat give publishers a cut of the ad revenue they make or sell off their content.
  3. Increased demand for creators and creativity to produce podcasts and TV shows for the new streaming platforms. Last year saw record demand for television original series. Demand for podcast and audio content is also leading to a record number of digital companies to partner with podcast studios and distributors to create audio content like flash briefings and skills.
  4. A regulatory and cultural shift towards privacy is pushing more advertisers to rely on first-party data to target users. Several publishers, like Vox Media, News Corp. and The Washington Post have created new data marketplaces to capture that demand.
  5. The growth of big, murky online marketplaces in retail is forcing consumers to turn to trusted publishers for commerce recommendations and guidance, creating a new revenue stream for publishers.

The other side: Media companies that lack true scale or dominance of a specific niche continue to face challenges. Most executives believe this trend will continue, leaving a small group of large publishers and high-quality niche sites

Between the lines: There’s hope for the bigger publishers to reach profitability, but many have had to slash costs to get there.

  • Some publishers that have raised lots of money, like Buzzfeed and Vice, have taken large-scale cuts in the past two years in order to get closer to profitability.

Be smart: These success stories have begun to allay investor concerns. Venture investors known for expecting quick returns tell Axios that they are beginning to take a longer view of their investments in publishers that have more sustainable business models, like subscriptions.

Go deeper:

Go deeper

46 mins ago - Axios on HBO

Preview: "Axios on HBO" interviews White House Senior Advisor Cedric Richmond

On the next episode of "Axios on HBO," Axios co-founder Mike Allen interviews White House Senior Advisor Cedric Richmond.

  • Catch the full interview and much more on Sunday, February 28 at 6 pm. ET/PT on all HBO platforms.
2 hours ago - World

Italy tightens COVID restrictions as experts warn of growing prevalence of variants

Health workers prepare vaccine doses in Iseo, Italy. Photo: Stefano Nicoli/NurPhoto via Getty Images

Italy on Saturday announced it was tightening restrictions in five of the country's 20 regions in an effort curb the spread of the coronavirus.

Driving the news: The announcement comes as health experts and scientists warn of the more transmissible coronavirus variants, per Reuters.

3 hours ago - Health

Health care in the New Washington

Illustration: Sarah Grillo/Axios

As America emerges from the pandemic, here's a special Axios AM Deep Dive on the Biden administration's health care agenda.