Bleacher Report co-founder Bryan Goldberg isn’t done with startups, even though he just sold his sports company to Turner for ~ $200 million.Goldberg says he’s going to get back into the content game and create another media company. And he says he’s going to make an even bigger fortune doing it.
Media companies, Goldberg says, are the best kind of startups to create, even though venture capitalists are typically scared to fund them.
“There are the three [digital media companies] have sold for nine-figure exits — DailyCandy, Bleacher Report, and Huffington Post. Then there are the many that are almost certain to sell for nine-figures one day — BuzzFeed, PopSugar, Vox Media, Refinery29, Curbed, Mashable, Gawker, BusinessInsider, Thrillist, etc,” he writes on PandoDaily. “And what else do you notice about the dozen companies that I just mentioned above? They are all experiencing record traffic and revenue. Every single one. Not one of those sites has ever seen better days.”
In addition to yielding big returns often, Goldberg says the business model is simple. Content companies can make money via e-commerce and advertising alone without having to reinvent the wheel.
(That said, we suspect Goldberg will find times have changed since he started Bleacher Report. CPMs aren’t what they used to be, especially for new startups without brand names that are trying to monetise on crummy Google ads.)
But Goldberg is confident. “I am thrilled to be in this space, and I can’t wait to launch my next site. It’s going to make me rich(er).”
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