Introducing Hackers.Media - the space for hacking media and making $$$
It’s no secret that it’s now more difficult than ever to make money as a media company; it’s even more difficult if you’re an established media company with the overheads of an elephant and shrew-sized revenues. As I write this, the UK’s Guardian Media Group has announced a loss of £180 million and digital revenues shrinking by 3% to £79.6 million. And it’s not only the old giants like the Guardian who are suffering, with start-ups like Buzzfeed finding it increasingly trickier to maintain their healthy growth rate after reportedly missing their targets by c.50%.
That said, it’s not all doom and gloom. Many media companies are seeing light at the end of the tunnel, and many are maintaining an investment in quality content. Publishers like Monocle Magazine (UK), The Skimm (US) and 20 Minuten (Switzerland) are all innovating / hacking their way to profitability.
Alongside these content-based media companies there are their now much bigger and more influential community-based media companies like Facebook, Snapchat and Linked-in. Whereas the big content companies are losing millions, these community-based companies are making billions. And in many cases these companies are making billions $$$ from traditionally challenges spaces like mobile. For example, last quarter Facebook made over $5 billion from mobile advertising alone - with 84% of its revenues coming from mobile.
Clearly online media - and more specifically mobile media - isn’t dead.
Hackers.Media is a content-based community dedicated to helping traditional media companies hack their way to profitability, by sharing ideas and experiences from across the world. These could be ideas of any shape or size. They could be insights into how you built out your programmatic stack; ideas of how you measure and sell native; tips on how you optimised the speed of you mobile site; stories of how you built out your distributed media strategy.
And most importantly Hackers.Media is very much a community. And a live community too - not just a virtual one. In this spirit we’d love you to contribute articles to the site and also organise meet-ups. And we want to do this globally.
So, if you’ve got something interesting to share - please get in touch ++ spread the word (and our content) ;-)
IMAGE CREDIT: Kai Schreiber on Flickr