Minute Media expects its newest acquisition will help it fuel a profitable year and achieve revenue exceeding $100 million.
On Friday the venture-backed sports media company announced it had acquired FanSided from Meredith for an undisclosed price. The acquisition is Minute Media’s third in the past 15 months. In June the company drew an investment infusion of $40 million that was meant to fund purchases. Minute Media purchased Mental Floss in 2018, The Big Lead in March 2019 and The Players Tribune last fall.
Achieving cost-effective distribution for its titles across different markets has been a key part of Minute Media’s strategy; it publishes content in 13 different languages around the world and has managed to rack up a large number of short video views. In November Minute Media attracted 615 minutes of watch time for 1.2 billion views of videos, according to Comscore data.
The company’s president, Rich Routman, said about 70% of the company’s revenue is derived from advertising, with much of it being from video ads. The remainder is revenue accrued from various business services, including licensing its technology to other publishers. Minute Media also runsThe Duel, a content site owned by the daily fantasy site FanDuel.
The addition of FanSided to Minute Media’s portfolio could bolster its branded content distribution capabilities as well. Last fall the company’s founder and CEO, Asaf Peled, said shortly after announcement of the Players Tribune acquisition that he expects to grow that site’s revenues more than 50% over the next year.
“If you want to be a real player in digital media, you don’t only have to have great content; you have to have great distribution,” Routman said. “The days of relying on Facebook to distribute your campaigns are over. The more distribution publishers can own, the more [they] can do.”
Minute Media’s focus on advertising comes at a time when many sports media companies are trying to diversify their revenue in areas beyond video and display advertising. The Ringer, for example, generates most of its revenue from podcast ads, while The Athletic (which recently raised $50 million) focuses largely on subscription revenue. Other sports media publications, including Vox Media’s SB Nation, WarnerMedia’s Bleacher Report and Barstool Sports, are trying to find ways to work closely with betting operators to capitalize on legalized sports betting.
By acquiring FanSided, Minute Media gains the ability to target fans of specific teams. Such audiences would complement those for the Players Tribune (focused on specific athletes) as well as for The Big Lead, which covers leagues as a whole in addition to sports media. That flexibility could help Minute Media navigate key problems that sports media companies are facing right now.
An exclusive, inside look at what’s actually happening in the video industry, including original reporting, analysis of important stories and interviews with interesting executives and other newsmakers.
Marketers that might have once partnered with leagues or large sports media companies can now can go straight to the stars themselves, said Keith Hernandez, a partner in the business consultancy Launch Angle and a former svp of revenue for Bleacher Report.
But ultimately the biggest question about Minute Minute’s prospects may rest in how effectively it can integrate its growing portfolio of sites.
“It seems like they have an open checkbook right now,”said Neeta Sreekanth, COO at sports content management app company INFLCR. “The question is, What’s next on their list?”
Aide: Media ignores Trump’s loving bond with 13-year-old son – CityNews Vancouver
WASHINGTON — A top aide to President Donald Trump complained Friday that the news media doesn’t pay enough attention to the president’s loving relationship with his 13-year-old son, Barron.
“The president’s just a really caring father and you don’t see that,” acting White House chief of staff Mick Mulvaney said during an appearance at the Conservative Political Action Conference, an annual gathering for conservatives. “The press would never show you that because it doesn’t fit.“
Mulvaney said he noticed on his first trip with the president that Trump had called his son multiple times to check in and let him know when his helicopter would be returning to the White House.
The first lady’s office has requested that the media respect the privacy of the youngest of the president’s five children and discourages writing about him. Her office declined to comment on Mulvaney’s remarks.
The Associated Press
Kew Media’s Lenders Call In Debts, Pushing TV Group Closer To The Edge – Deadline
Kew Media Group’s lenders have called in the Canadian TV producer-distributor’s debts, pushing the company closer to the brink of collapse after it was delisted from the Toronto Stock Exchange last month.
In a statement issued to Kew Media Group’s investors on Friday, the company said Truist Bank has “demanded repayment of all amounts owing under the senior credit facilities,” adding that the bank intends to enforce its security under Canada’s Bankruptcy and Insolvency Act. The company’s net debt stood $117M, according to its most recent earnings.
“Following a 10-day notice period, Kew’s senior lenders may take steps to enforce on their security,” the statement added. It is the latest chapter in a disastrous downward spiral for the company after it defaulted on its credit facility last year because it filed “inaccurate” financial information.
Kew Media Group’s subsidiary, the once-thriving British sales house Kew Media Distribution, is also staring down the barrel of a winding-up order, with a court hearing set for next week. Producers including, Leaving Neverland indie Amos Pictures, are fighting to claw back the royalties they are owed from the international sales of their shows.
Other Kew Media Group subsidiaries have also been fleeing the sinking ship. The latest was Frantic Films today after CEO Jamie Brown bought back the company, which makes HGTV’s Backyard Builds. Others who have left the group include UK producer Two Rivers Media, while Dance Moms executive producer Jeff Collins left Kew-backed Collins Avenue Entertainment in January.
Networks Ramp Up Coronavirus Coverage As White House Accuses Media Of Fearmongering – Deadline
Networks are ramping up their coronavirus coverage, as concerns escalate of a worldwide spread, major public events are postponed or canceled, and Wall Street experienced its worst week since the 2008 financial crisis.
The White House contends that the media is raising unnecessary alarm about the virus and its spread in the U.S., even with the intent of hurting President Donald Trump.
As he headed out to a rally in South Carolina on Friday, Trump told reporters, “I think that CNN is a very disreputable network. I think that they are doing everything they can to instill fear in people.”
Earlier in the day, his acting chief of staff, Mick Mulvaney, appeared at the Conservative Political Action Conference and told the crowd that “the reason you’re seeing so much attention to it today is that they think this is going to be the thing that brings down the president. That’s what this is all about it.”
Mulvaney advised people to tune out the news.
“I got a note today from a reporter saying, what are you going to do today to calm the markets?” he said. “Really what I might do today to calm the markets is tell people to turn their televisions off for 24 hours.”
The administration’s attacks on the media are not unusual. But they are coming at a time when public communication of accurate information is essential, if anything to reassure the country that the White House has a handle on the crisis and the risk is still very low.
Trump tried to assuage fears on Wednesday by holding a briefing where he announced that Vice President Mike Pence would be leading the administration’s effort to contain the disease.
But markets continued to slide on Thursday and Friday — the S&P and Dow Jones were down by more than 10% for the week. Federal Reserve chairman Jerome Powell issued a statement to try to calm nerves, saying that “we will use our tools and act as appropriate to support the economy.” But he said that the virus poses “evolving risks to economic activity.”
Trump defended the administration’s response, noting that the administration placed limits weeks ago on travel from China that limited its spread in the U.S.
“Some people are giving us credit for that and some people aren’t. But the only ones who aren’t, they don’t mean it. It’s political. It’s politics,” Trump told reporters.
Pence went on Rush Limbaugh’s radio show on Friday, where he said that the threat of the coronavirus spreading in the U.S. “remains low.”
“With that being said, out of an abundance of caution, we are going to continue to take very, very strong measures and to put the health and safety of the American people first,” he said.
Earlier in the week, Limbaugh claimed that the coronavirus was being “weaponized as yet another element to bring down Donald Trump.” Pence told him that he has been speaking to Democratic leaders and governors like Gavin Newsom in California, and that “we’re all in this together.”
Meanwhile, networks are announcing plans to boost their coverage of the coronavirus.
NBC News launched a live blog with feed from the network’s medical, business, political and investigative reporters and updates on known cases and new infections. They also are doing a morning newsletter, Morning Rundown Special Edition: Coronavirus Crisis, starting on Monday, with updates from medical correspondent Dr. John Torres and on business ramifications from Ali Velshi. The newsletter also will provide tips to readers.
Among other highlights, Pence will appear on Meet the Press on Sunday, and investigative and consumer correspondent Vicky Nguyen will answer questions from viewers on Today on Monday.
Fox News is presenting a coronavirus special at 1 p.m. ET on Saturday featuring Leland Vittert.
While increasing their focus on the virus, media outlets also have provided a bit of context.
ABC News’ chief medical correspondent Dr. Jennifer Ashton co-hosted ABC’s The View on Friday, where she noted the greater threat currently posed by flu season and addressed misinformation about the disease.
Among the topics: The idea that Americans should be wearing surgical masks. “They are not to protect the healthy from something coming in,” she said, noting that the Centers for Disease Control was not recommending that the average American wear them now.
“Right now, according to the CDC, this is a highly transmissible virus with a low mortality or fatality rate and that’s really important right now,” she said.
She added, “One of the biggest problems with this story is where people get information and where people get misinformation, and you have to get your information from credible, credentialed sources. If you don’t, not only does it not do you any good, it can actually endanger public health and the response.”
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