Companies like Rapha, Ryzon, or Soho House have managed to create communities that speak to the human need for belonging. From nature, us humans are social species. People desire an identity and are motivated to become part of a community.
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There’s been a flurry of M&A activity among media brands this year. Vox acquired New York Media, Vice announced its purchase of Refinery 29 and NowThis parent Group Nine has taken over PopSugar. Dealmakers in the space have taken on a different approach in recent years, as opposed to when venture-capital money flooded the sector and valuations soared. The new acquirer largely follows a different playbook that has cash flows and profit front of mind, not simply growth at all costs. Savvy media brands are looking at how they can convince their audiences to hand over money for their content, such as paywalls, creating a membership model or executing intelligent affiliate linking strategies.
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Every major publisher has been through some kind of transformation in recent years – whether a print-to-digital transformation or vice versa, a revenue-model transformation, or horizontal as well as vertical expansion of the business model. While Highsnobiety’s origins sit in the digital world, Monocle is deliberately not developing a dedicated digital format for the iconic Monocle magazine.
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