One of the oldest pieces on A Media Operator in August 2019 is about the importance of diversification. Pacific Standard had grown overly dependent on its single benefactor and when that money got pulled, the publication had no chance to survive. And so, a core tenet of operating a media business is that you have to diversify.
However, the need for diversification can oftentimes confuse operators and introduce problems down the line. Just because you need to diversify where your revenue is coming from does not immediately mean that you need multiple different types of revenue.