Digital giants get bigger at the expense of the small blog sites
So the result of the 2014 new-money surge is that the world of online publishing has become bifurcated. Either you aspire to become a “platform”, or you simply join up with somebody else’s. (Take your choice: WordPress, Tumblr, Medium, YouTube or, of course, Facebook.) The small but self-sustaining bloggy site is a thing of the past: if you’re not getting 20-30 million unique visitors every month, and don’t aspire to such heights, then you’re basically an economic irrelevance. Advertisers won’t touch you, you won’t make any money, and your remaining visitors will inexorably leach away as they move from their desktops to their phones.