Jimmy Finkelstein Claps Back at The Messenger’s Critics and Defends Ambitious Growth Targets: ‘It’s Hard to Imagine That We Can’t Do It’
26.05.2023 - 15:30
/ thewrap.com
Finkelstein told Vanity Fair. “The Hill made about $18 million [in profit]. We had 120 million visits on average a month, with about 70 reporters and 90 people in the editorial department.
Clearly, it wasn’t impossible, because we did it. Now we’re not only gonna have as large, if not larger, a political [audience], but we’re also gonna have sports and business and general news. So, I mean, it’s hard to imagine that we can’t do it.”In 2021, Finkelstein’s The Hill was sold to Nextstar Media Group for $130 million.
Two years later, its former owner has launched the ambitious The Messenger. The digital news media company launched with $50 million in funding and has projected that it will generate $100 million in revenue for 2024. The site also has plans for an expansive 550-person newsroom.
In the past the company has said that it plans to reach these lofty goals through “a mix of direct advertising, programmatic and sponsorship revenue across multiple platforms.”The startup has drawn the ire of the media world. The revenue goal has been described as “delusional” and “wishful thinking.” Since its launch, the site has been described as a “bad pitch from ‘Succession,'” and business reporter Scott Nover even said, “I would dunk on The Messenger but I googled the site’s name and cannot find it.” But in his interview with Vanity Fair, Finkelstein explained the business model “nobody bothered” to ask him about.“It is a very serious publication that will also have lots of fun articles in it,” Finkelstein said. “It won’t be like the Daily Mail.”According to the chairman and CEO of the site, The Messenger will combine programmatic advertising with direct sales targeting “very large advertisers.” “We expect to have tens of millions
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