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- Thursday August 6th: Freight media and data business sees 250% growth
Thursday August 6th: Freight media and data business sees 250% growth
Morning! Today's Media Roundup is from Peter.
2020 hasn't been fun for the media and information industries. But not everyone is suffering hard times: Freightwaves, nicknamed “the Bloomberg of Freight” operates in the $9.6 billion freight logistics market. Merging a media business and a SaaS-based subscription data product, the company has seen 250% growth through the first half of 2020. It is on track for revenues of $20 million by the end of the year.
B2B companies considering their data offering might want to consider Freightwave's numbers. Its data business generates $7.5 million in annual revenue with a typical sub costing $25,000 per year but reaching high six and seven figures for larger customers.
“In the COVID era, the old data models have broken down and historic data is of no use,” says CEO Craig Fuller. But the media side of the business still matters.
“We’re creating all these new indexes and data types, but if you don’t have a way to contextualize those data sets, it can be difficult for customers to understand what that data means... We created the media business to do that.”
It was a big day for the New York Times yesterday. For the first time, it reported quarterly revenues higher in digital than print: $185.5 million VS $175.4 million. Outgoing CEO Mark Thomson called it a 'key milestone', but overall profit was down more than 6% Year on Year.
Remember Rasmus Kleis Nielsen at RISJ writing about how profitable print products will “die out with their readers”? Well seems online might not be doing so well either. According to YouGov, half of all current news subscribers - print or online - are aged over 55.
That Wired headline's a classic candidate for a Betteridge's Law response, but a Dutch public broadcaster that got rid of targeted digital ads has seen revenues grow by almost 80%. So maybe publishers can at least stop worrying that killing cookies will kill journalism.
Throwback Thursday:
Back in the before times when we were still happy to go to other countries, I braved the bright lights of Las Vegas to interview Rachel Arthur, founder of independent magazine Boom Saloon…
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