Tuesday, March 04, 2008

How (not) to create a new media empire

Having religiously covered the three Gs of blogging topics so far- namely, Gossip, Gadgets and Girls, Nick Denton, the owner of Gawker media group knows what sells in the news business. His approach to New Media Empire building is bearing good, hold on, stupendous results.

Nick has just posted a chart showing how Gawker is the fourth largest online media empire.

But, is Nick Denton's way the only way? According to the chart, Gawker is behind the New York Times, USA Today and Washington Post, ahead of Los Angeles Times and the Wall Street Journal.

We keep reading about the trouble the newspapers are in - the layoffs are an obvious point of coverage. But, we should not forget the amount of money these news brands have invested in the best reporting talent, especially in the service reporting field - going out there and reporting the best the reader is concerned about.

It takes real money to go out in the field, say Iraq and bring out the stories.

Is Gawker Media taking the armchair route to media empire success?
This is the question for the media experts to answer.

Supporters (there are many) of Nick's scrappy approach to New Media empire building will say that the New York Times 'subsidizes' its serious reportage with earnings from its Food and Lifestyle coverage and from About.com.

By that token, shall we expect Nick Denton to fund a serious journalism kind of initiative? I won't bet my meagre collection of Sachin Tendulkar posters on that happening.

Related story: In the valley of smut: the new Valleywag story

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At 4:19 PM , Anonymous Anonymous said...

Valley Dan here.

Pramit, you might as well do pretty much the same as Nick Denton.

How else do you think can a man get funds to build a media empire?

Peace, out.

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