Even before COVID-19 wrecked the media business, there were more negative pieces about the state of media than there were positive. With so many publishers losing their monopoly over the creation and distribution of content coupled with an over reliance on programmatic advertising controlled by other parties, the revenue opportunities in media have been getting smaller.
But there is a community of operators out there that, despite the pandemic, have remained profitable. They never scaled faster than made sense and were very disciplined with their business models (i.e. few if any are spending millions on video). I even know some that are expanding, taking this opportunity to move into related niches. If my subject line didn’t tip it off, I’m talking about b2b media companies.
Ben Clymer is founder and CEO of Hodinkee, a media and commerce company dedicated to the luxury watch market. What started as a personal blog thanks to a watch from his grandfather has turned into a highly respected business that can sell millions of dollars in watches in minutes.
In this episode, we went through the many different facets of the business, but a few things jumped out to me…