It ain’t easy being in the media business these days, or so they say. There are in fact lots of people allegedly, or actually, raking in digital dollars, according to this article from Fortune. They’re all content producers with a journalistic twist. They are all different in their own ways, but you can parse out some ingredients for financial success in the industry.
Not surprisingly the top, profitable companies are: The Huffington Post, Gawker Media, The Awl, Business Insider, SAY Media, Vox Media, and BuzzFeed.
So what sets them apart?
1. Niche, Niche, Niche
Choire Sicha of The Awl says they only want to be read by ‘smart people,’ and as it’s grown, it’s added other niche sites to its cache, like the female focused The Hairpin. Business Insider lives off of business and technology news and gossip, straight from the mouth of editor ‘Wall Street bad boy’ Henry Blodget. Gawker peddles snark, and BuzzFeed caters to culturally in-tune Millenials and their parents. HuffPo is grandfather of all of them — they have the verticals and dedicated, SEO hungry, writing staff for everything. By dabbling in it all, they essentially cater to segmented, yet focused, audiences. All of these organizations are like the good old magazines of the paper days: each site has a distinct look, feel and tone, reminiscent of say, Sassy or even Spin. It’s no wonder that Jane Pratt is part of the profitable crew under SAY Media. All of this ties into the next thing profitable companies have in common… Read more