Quartz launching new initiatives, seeking more ad dollars
Business news site Quartz is publishing its first print book, launching new management and lifestyle brands, and adding a second daily email newsletter in a bid to capture more advertising revenue, reports Shannon Bond of the Financial Times.
Bond writes, “For its print debut — a book titled The Objects that Power the Global Economy that goes on sale on September 6 — Quartz included branded content, a form of advertising that drives 60 per cent of its revenue. The book, which explores subjects including gene sequencing, blockchain technology and lithium-ion batteries, is sponsored by Qualcomm, a longtime advertiser, and features a section about the chipmaker’s role in mobile communications.
“‘We’re going against the trend, in the sense that we unapologetically believe that there is a healthy and better advertising model to pursue,’ said Jay Lauf, Quartz publisher and co-president.
“‘It starts with the premise that I don’t believe that people hate advertising, they hate bad advertising experiences,’ he said. ‘We believe that if you try to create advertising that is an additive, interesting, pleasant experience for the user, you’re going to get a better experience for the advertiser.’
“The privately held company, founded in 2012, does not disclose financial results, but is projecting double-digit revenue growth this year. In 2016, it turned a profit for the first time, earning more than $1m on revenue of about $30m, according to a person familiar with the matter. In August, it drew 22m unique visitors to its website.”
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