The Huffington Post is earning “hundreds of millions” in annual revenue, AOL CEO Tim Armstrong just told the audience at IGNITION 2014.
He wouldn’t say exactly how much it’s making, but did not object when interviewer Henry Blodget presented him with a hypothetical revenue figure of $US200 million.
By way of comparison, the New York Times reported about $US362 million in revenue last quarter.
AOL bought HuffPo for $US315 million in 2011, and got some criticism at the time for how much it spent on a new and relatively untested media property.
But the site now has 81 million worldwide monthly viewers, according to AOL, which is the kind of massive audience that’s very hard to build.
“There’s no way we could rebuild the Huffington Post now for even a multiple of what we bought it for,” Armstrong said. It’s a long-term play, he told the audience.
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