Advertising spend is down, non-essential affiliate marketing is on life support, subscription strategies are nascent, and direct-to-consumer commerce is a rarity. Media is being forced to evolve, once more. And so are brands.

We would not be in business without our community of paying members (thank you!) but a lot has changed in five years, and some new obstacles have made the outlook for web publishers particularly dire. Advertising still accounts for the vast majority of Stereogum's revenue (hit us up if you would like to advertise!) but starting this year the... See more

As an example, take One Medical (also see previous Caseload coverage). They operate partially under a capitated model: while they bill for individual services, they also receive a fixed ‘per member per month’ payment from partner health plans, as well as an annual subscription payment from individual patients. Together, these revenue streams... See more