The decision, as it often does in the media business, came down to revenue. “Unfortunately, despite its consumer appeal, Breaking News has not been able to generate enough revenue to sustain itself,” Ascheim said in the letter supplied by NBC News. “We have therefore made the hard decision to close its operations so that we can re-invest that funding into NBC News’ core digital products to help us achieve our ambitious goals for those businesses.”
This is short-sighted. Web-based news isn’t generating revenue? No shit. Breaking News has been a standard-bearer of confirm-before-publishing and still manages to be ahead of every other news outlet’s attempt at a breaking news product.
I’d spend $2.99/month on this thing to keep it alive. Let’s say 1/4 of its Twitter followers would do the same. That’s $84.6 million in revenue right there.
Would that be sustainable?