Categories: OLD Media Moves

Business Insider reports loss for last two months of 2015

Business Insider generated revenue of about $10.2 million based on average exchange rates and a net loss of about $1.2 million during the last two months of 2015, Jeremy Barr of Ad Age reports.

Barr writes, “According to the report, had B.I. been part of Axel Springer since the beginning of 2015, it would have lost the company €10.8 million (about $12.0 million based on average exchange rates in 2015) in consolidated net income on consolidated revenue of €38.5 million (about $42.8 million).

“An accompanying presentation said B.I.’s revenue increased 41% in 2015.

“Germany’s Axel Springer, which has invested in several U.S.-based digital media companies, including NowThis and Thrillist Media Group, sees B.I. as a great growth opportunity.

“‘The medium-term planning of Business Insider is based on the assumption that the revenues will grow significantly,’ Axel Springer said in the report. ‘This growth shall predominantly be triggered by the further development of the Business Insider brand portfolio (e.g. Tech Insider, Insider), the extension of the fee-based market research offering (‘BI Intelligence’) and the expansion into new international markets.'”

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.