VICE's Fall From Grace: From $5.7B Media Giant to Bankruptcy

If you were tuned to pop culture in the 2010s, then you know that it was impossible to escape Vice. No, we don’t mean drinking, drugs, and partying, though that’s going to come up later in this video, don’t worry. We mean Vice, the Canadian-American media company that’s been at the forefront of entertainment and journalism for years.

This company was behind such iconic documentaries like FYRE: The Greatest Party That Never Happened which exposed the infamous Fyre Festival and Make the World Greta Again which followed climate activist Great Thunberg. Being at the cutting edge of journalism, Vice Media was a hot corporate property. In the same decade, Vice saw hundreds of millions of dollars in investment from 21st Century Fox, TPG Capital and A&E networks.

Now, just a few years after these decade-defining creative wins and financial backing, Vice has filed for bankruptcy. This comes months after the company cancelled several projects already in development and laid off staff.

So, what went wrong? How could a company that was valued at $5.7 billion a few years ago be going bankrupt? And is there any hope of Vice recovering from this setback? Stick around and we’ll dive right in.

#vicemedia #vice #vicetv

[Microtonal_Cats]

Vice died because it went from real hardcore "bulletproof vest journalism" to listicles like "Why your choice of dog proves you're racist."

[badfoody]

it started when they hired more interns than journalists

[boardingurban]

They went from interviewing criminal bosses and counter culture to being part of the status quo, allowing governments to use their platform for politics. They started taking sides, which alienated their audience

[chezza]

Cannibal warlords of Liberia will live on as one of the most hardcore documentaries of all time.

[andyvega]

Not paying your freelancers, what a bunch of scumbags. Seems like they got some karma

[ForageGardener]

"I did Ketamine with a Registered Sex Offender and this is what my mother said after" thats the kind of stuff Vice publishes 😂

[fao]

Vice turned from „New Media“ into „Old Media“ fast. As a viewer you could tell something changed.

[aus]

They started out as everything we need from a news source — unbiased, raw, willing to ask difficult but important questions without an agenda. Often even diving into complex situations without a full understanding, actively seeking answers. It was refreshing and relatable.

After a while, they became just like the rest. They grew to be political, only covered certain types of stories and went into everything with an agenda and a pre-defined opinion that they would find some way to support.

They went from being a brand I’d instantly watch no matter what the title to being the exact opposite. They fell down to match the likes of Buzzfeed where any time you see that logo, you know there’s no actual value to be had and keep scrolling.

It’s a shame, really.

[rezaurrahmandeepto]

Videos on bankruptcy should always have 11 chapters

[hmrswnv]

I remember the “Cannibals of Liberia” documentaries. General Butt Naked, Mosquito and Mosquito Spray. 😂 good stuff!

[johnrodgers]

It's always amazing how a new CEO for a failing company can just come in and make some millions then leave the failed company

[johnfarmakis]

Making documentaries for VICE was my dream job when I was younger

[Kryptiq]

Expansion kills everything because you end up trying to please too many people and end up pleasing none

[GimpCent]

I used to watch their documentaries all the time, especially the ones about North Korea and the Suicide Forest. They were so edgy and fearless. But then they got too big for their own good and started spending money like crazy. Did you know that they once paid $20, 000 for a single article about a drug dealer in Mexico?

[GeneralKato]

The love of money kills everything, including journalism. It’s just a matter of time.

[flashbaq]

The cannibal generals of Liberia is one of the best vice documentaries on YouTube

[cgforuf]

As a vet of the war in Afghanistan, the best way to truly show folks who wanted to know what it was like was Vice’s “What Winning Looks Like”. Truly an eye opener and when watched, folks know why the war ended like it did.

[Darkest_Soul_]

I love how the company files for bankruptcy, and keeps firing people, but the top level management give themselves 150-200k bonuses...The worst human beings

[etdsrki]

It would be funny if Vice makes a documentary about its own bankruptcy

[agauld]

Articles like " people who drink milk, are you ok?" And conststant push for people to try pegging was weird as fuck. I think they gave some 17 year old rainbow warriors free reign to find the most embarrassing and pointless shit they could