Vice Media, known for its Williamsburg hipster aesthetic and original video content, brought in more than $100 million in revenue in 2011 and expects to double that in 2012, Jeff Bercovici reports for Forbes.
Bercovici’s report is worth reading in full, but here are some of the salient points:
- Vice is up to 800 full-time employees, spread across 34 countries.
- Behind video ventures like VBS.tv and its partnerships with Google and Time Warner — in particular, Vice’s content is featured on CNN.com — the company increased from revenues of $28 million in ’07.
- Most of Vice’s revenues come from sponsorship of its three video verticals, with more verticals to come. For example, Intel completely sponsors art channel The Creators’ Project, in the hopes that the content reaches a younger audience for whom traditional advertising might not be effective.
- Vice raised a $50-$100 million round to support a push into China; investors include Tom Freston, former CEO of Viacom and a major advisor to Vice, and the Raine Group.
Vice provides its own original content, with journalists reporting from war zones in addition to arts, culture and other programming.
Vice still makes a print edition, of which it distributes just over a million copies worldwide for free, according to the company’s numbers. And VICE.com, the combination of what was formerly Viceland.com and VBS.tv, gets over 3.2 million uniques a month.
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