Business Insider hits $100 million in revenue in 2018, was profitable
Business Insider and sister site Insider reported $100 million in revenue in 2018 and posted a profit, reports Sahil Patel of Digiday.
Patel reports, “Insider Inc. — the parent company of Business Insider and general news spinoff Insider –achieved profitability for the full year in 2018, with total revenue growing 20 percent year over year, said Pete Spande, publisher and CRO of Insider. Spande declined to provide specific revenue numbers for Insider. In December, Insider CEO Henry Blodget said the company was on target to hit or get close to $100 million in revenue by the end of 2018, said a source familiar with the matter; the company has exceeded that mark for the first time.
“Spande ticked off close to a dozen ways Insider makes money today, including four different enterprise and individual subscription tiers across BI Prime and BI Intelligence, a direct and programmatic ad sales business, branded content production, video production and licensing (such as the company’s show for Facebook Watch), events, international brand licensing and new areas such as commerce.
“Advertising is still driving a majority of the revenue for Insider. The company is working toward a goal where a third of its revenue comes from all forms of advertising, a third from subscriptions and a third from the other, aforementioned areas. ‘I’m not pegging a date to it, but let’s call it by the mid-2020s,’ Spande said.”
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