How Industry Dive will double revenues in two years without events, deals
Matt Kinsman of Connectiv interviewed Industry Dive CEO Sean Griffey about how his company, which publishes industry newsletters, has doubled its revenue in the past two years.
Here is an excerpt:
Connectiv: Sean, you’re in 16 different markets today. What’s the largest?
Sean Griffey: From a revenue standpoint, retail is our largest market. That’s just from sheer volume, from growth we’ve done increasingly well in supply chain and HR and from a brand standpoint our place in the market is smaller but may be even stronger with our utility and waste brands. We’re reaching between 7 and 8 million users each month across our platform—newsletters, Web, apps, etc.
Connectiv: Industry Dive did $22.5 million in revenue last year and you’re on pace to do around $29 million in revenue in 2019. What’s driving that growth?
Griffey: We grow in two ways—we get deeper into the industries that we are already in and we launch in new markets. When we launch in new markets, we think it takes 18 to 24 months to become material to the organization, so to some degree that growth we’re seeing now is due to publications that we launched two to three years ago that are starting to hit their strides (supply chain, hr). It’s really larger share of wallets in markets as our audience grows. In our established markets, we find that we’re doing more complex deals from a content studio/brand studio side, but we’re also doing more of the standard advertising/lead gen which is the backbone of our business.
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