Brisbane’s Mode Media has abruptly shut down, leaving bloggers unpaid, investors frustrated and rumors swirling in its wake…The company, a publisher of lifestyle sites and operator of an ad network which placed big brands’ campaigns on smaller websites, told investors and employees Thursday that it was closing its doors after failing to find a buyer or line up financing.
Bloggers are naturally furious, most claiming they haven’t been paid and demanding to know wtf happened. They have created a twitter hashtag #ModeOwesBloggers, and started a Facebook group to try and figure out what to do next. One blogger insists it’s not about the money, while saying “it’s the time I spent putting these campaigns together. I invested a lot of my own money into creating the content, all the while thinking, it’s OK because I can put it back into my savings soon…” Another blogger explained why the closing is a blow for bloggers who were tied to the Mode Media ad network.
If you were part of the ad network…you were tied to an exclusivity contract for at least a year and couldn’t be a part of any other networks…which hurts like hell now for some bloggers because not only did Mode close without notice, they were months behind in payment.
There are some who think the closing should come as no suprise – over a month ago Dianna Mullins posted a “Farewell Letter” to Medium hinting at possible problems.
Ego must be put aside. The vision must be for the good of the whole never just for the individual. If competing visions and misalignment occurs at the core level with this team, it is imperative that issues be resolved quickly. The company must come first, even if it means breaking up the entity into smaller parts, to allow each to find its path. Some may succeed, others may fail, but this ensures the entire entity does not fall.
While some panic over what this “might signify for the blogging industry” others are rushing to remind everyone that possible mismanagement at one company does not spell doom for the blog advertising structure as a whole.