Comedy and leisure media firm Actually Media acquired males’s life-style and leisure title Mel Journal from Recurrent Ventures Friday, in keeping with Actually Media CEO Oren Katzeff.
Actually Media, which is owned by Israeli enterprise capital agency 44 Ventures, financed the acquisition internally however wouldn’t share the value.
“With Mel, we’ve got a devoted model, loyal viewers and distinct editorial voice,” Katzeff stated. “The place there’s a lot noise on-line, the chance to land a longtime model is a big win and a part of our broader technique for rising the corporate.”
The property will be a part of Actually Media’s rising portfolio, which incorporates early web staples like Cracked.com, Know Your Meme and Cheezburger. It should relaunch early subsequent yr.
The writer is the newest in a sequence of beloved manufacturers—alongside Gawker, Jezebel and Paper Journal—to be shuttered and subsequently revived below new possession this yr.
The development displays a elementary fact of the economics of digital media, which is that viewers fervor is not any assure of economic viability. Nonetheless, as social and search site visitors wane, model fairness and direct readership have grown extra precious.
An up to date editorial and business technique
Actually Media has no plans to change the signature editorial model and material of Mel Journal, in keeping with Katzeff, who joined the corporate final March after stints at Condé Nast Leisure and Tastemade.
Nevertheless, the writer will emphasize adapting its mental property to new channels, with a selected concentrate on video and audio. Sure tales, together with an exposé on truck-driving serial killers and the story behind a $65 million artwork heist, have already been flagged for potential expansions.
Actually Media generates roughly 70% of its income from on-site promoting, 13% from video promoting and 17% from a mixture of content material syndication, commerce and occasions.
The 50-person operation, which is worthwhile, hopes to extend the portion of its income coming from video sponsorship and direct offers, and it plans to rent a direct gross sales group in early 2024. Actually Media has greater than 3 million cumulative subscribers on YouTube and 35 million followers throughout social channels.