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It's easy to think media is a shit business if you only read about Buzzfeed and Vice. However, there are so many savvy operators out there who've build HUGE companies in the space. A few are:
1. Future: British company. Own multiple tech titles. $1b+ market cap, crazy growth: https://en.wikipedia.org/wiki/Future_plc 2. Informa: Also British. Market cap of $10b. Owns dozens of b2b media brands. 3. IndustryDive: Just sold for ~$75m 7 years after founding.
There are dozens more. The things I've noticed: -These businesses can last for 50+ years, minting billions in profits over the years. -They can take a long time to make (but can last for decades). -You need people to make them (vs businesses that can get huge with few employees
- They tend to be b2b but can also have b2c titles - They're sold for relatively cheap right now (but I think that will change) - They tend to have multiple brands - They can have super-niche audiences What else am I missing?
Multiple modes of monetization: Ads Paid Subscriptions Data Ecom/DTC/Products Sponsorships Events/conferences - physical and virtual Syndication and something like media property network effects are possible as well. Excellent insights DotDash is another example too
Yeah. DotDash is doing great.
Agree with the above but Buzzfeed isn’t necessarily a shit business- they do >$300M in revenue, have been a finalist for the Pulitzer twice and have a shot at profitability in 2020. They just took an unsustainable amount of venture capital- a sin certainly not unique to media
I agree
Interesting note on future, literally 5-6 years ago they were shedding staff and shutting titles like crazy. Hell of a turnaround
B2B also has a much better understanding of their audience data across all their channels/products (print, web events, etc). Their level of first party data management and understanding of it is exponentially greater than b2c’s.
Media always was and will become even more a core part of the growing #PassionEconomy
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