When building a media company, newer operators tend to bias toward advertising or subscriptions. More seasoned operators realize that choosing one over the other isn’t wise and, instead, choose both. With both and subscriptions, the focus is monetizing the content. How can we get someone to pay—either with their eyeballs or with their dollars—to consume content?
But as time goes on and as the brand becomes consistently stronger, some start to realize that they have an asset that might be worth leveraging in a low-cost, high-margin way.
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…