Trying not to over generalize, but you can see that mainstream adoption of a platform/system/technology, a situational event that can introduce a new concept or movement, and long term trend requiring innovation have stemmed the following investments to take place. Consider each factor mentioned and plot it against the product lifecycle for a given market, which is fundamental in determining the optimal times to invest. Source: Marketing InsiderWhat can be concluded in the digital media and publishing  space is: Subscriptions have reached the end of the growth phase encouraging competitors like Bloomberg, Adweek and others to adopt this monetization system - but towards the shakeout. Movements and needs of new media for verticals and under serving audiences usually happen right after the take-off of their growth phase from a viral event Local journalism consolidation can be attainable at a time when the organization is in the decline phase through acquisitions or beginning it's phase of re invigoration through a introduction of a new system,technology, approach or movement from high net worth individuals.Each phase has it's challenge and determination for the startup to become sustainable media business. We wish all of them good luck and the upmost success.