Don Dodge answered back my earlier post with another post. Who said blogs aren’t conversational?
He said something interesting: “Advertising is the game, and you need HUGE numbers to make that work.”
I know of a conference that charges $10,000 (or more) to get on stage to talk to about 700 people. Not a huge audience. But they always seem to have a full deck of sessions. That’s an advertising model.
In fact, didn’t the Search Engine Strategies conference sell for tens of millions of dollars? For a tiny audience! And some conferences, like the defunct Comdex (which had an audience smaller than we had at Channel 9) sold for hundreds of millions. Right?
In fact, didn’t 7,000 people come to Microsoft’s conference and they paid more than a grand a piece to be there? Not a huge audience and advertisers paid big bucks to get in front of that audience.
Some blogs (not me, yesterday I had 17,818 HTML views and 30,575 RSS subscribers) already are seeing millions of visitors per day (hello Boing Boing!)
Not to mention that Huffington Post, which is what got the $5 million in funding, is obviously not a single-person blog.
I remember working for a company with a magazine that had tens of millions in revenues and only around 100,000 subscribers.
Translation: get the right audience and you can make things happen.
But, political sites are seeing nice trend lines up and wait until the next Presidential Election!
Speaking of which, most plays of any kind are not bankable. Just ask Bill Gates to take you out to the product graveyard out by building 16 up in Redmond. There are hundreds of products listed there and I can only remember a handful making money. Most aren’t even around anymore.
Something is happening in media and the VCs just want to be involved.
Or, did you miss that Digg has built an audience somewhere around a million per day and it’s not even two years old? Kevin Rose, last week at the TechCrunch party, told me that just their podcast, Diggnation, gets 250,000 downloads per show.
Would you invest in Kevin Rose? I sure would.
There will be more Kevin’s. And Om’s. And Michaels.