Online ad-sales datapoint of the day
Remember Nick Denton’s decision to go on a firing spree because ad revenues were going to fall by 40%? Well, they didn’t at his own shop, Gawker Media: sales were up a double-digit amount in the first quarter, and are up 27% in the second quarter. Does this mean that all those firings needn’t have happened after all? My guess, which I hinted at in my comment on the big debate over at Boing Boing Gadgets on Wired.com vs Wired magazine, is that a lot of it comes down to the business side of the media companies.
In a recession, a great ad-sales team, backed by a nimble publisher who’s willing to move fast and aggressively when opportunities present themselves, really comes into its own and starts destroying its competitors in a way that just doesn’t happen in much less discriminating up markets. One of the biggest secrets of Gawker’s success is its business side — they don’t get nearly as much attention as the editorial side, but they make all of the money, and they’re extremely good at what they do. Maybe Denton should have believed in them more.