How The Power of Branding Can Monetize Media Companies
The digital landscape is ever-evolving, and so are the possibilities for traditional media companies to monetize.
Despite claims that publishing is on the decline, there are still plenty of opportunities for media companies to monetize. Branding holds significant power, and by incorporating e-commerce strategies, media companies can scale and thrive in this evolving digital landscape.
Dating back to 1704, advertising has been a core revenue source for newspapers and magazines. Over time, publishers have expanded their strategies, from selling print papers and branded merchandise to incorporating affiliate links in gift guides. While advertising remains a key revenue stream, it's not enough to sustain a media company in today’s world.
To achieve sustainable growth and reliable income, publishers are amping up their e-commerce strategies. The key isn’t about creating cutting-edge products. By partnering with companies or developing brand-aligned products, slapping a logo on them, and leveraging their platform for marketing and distribution, media companies can tap into new revenue streams without the need for high-tech innovation.
This approach is similar to selling merchandise, but companies can drive larger sales through well-executed product lines that resonate with their target audiences. Take The Daily Wire for example, which is now generating $22 million a year for selling Jeremy's Razors products and other goods from its merchandise store.
“The Daily Wire basically copy and pasted another company’s product and then slapped its own branding onto it,” Simon Owens stated on Substack. “It’s not claiming that it’s invented a new kind of razor that shaves a man’s face any better than its competitors. It merely found a manufacturing partner, developed a brand logo, and then leveraged its massive distribution channels to drive sales.”
The Daily Wire is definitely a successful example of a media company launching an in-house product, but this is not the only way to grow revenue. Brands can also host live events or sell digital subscriptions.
Cosmopolitan launched Extracurricular, where you can sign up to learn real-world knowledge and insights from entrepreneurs, celebrities, influencers and editors. And let’s not forget about the infamous Vogue World – a ticketed event for members to attend a celebrity street fair and runway experience.
Although the world is becoming increasingly reliant on digital media and formats continue to shift, traditional media companies can still find ways to adapt and evolve with the changing landscape. We can’t wait to see what media companies come up with next!
Best,
Ariana for the Don’t Count Us Out Yet Team