Quartz set to hit $30 million in revenue this year

Financial news site Quartz is set to hit $30 million in revenue in 2016, up from $18.6 million last year, reports Jeremy Barr of Ad Age.

Barr writes, “Quartz is on pace to bring in more than $30 million in revenue this year, having already booked $25 million, the person said. It is selling high-polish display ads for a CPM, or cost per thousand impressions, above $60 range, as well as content marketing services and sponsorships of editorial products, according to the person, who was not authorized to discuss the brand’s finances.

“Last year Quartz’s revenue was $18.6 million, up from $10 million in 2014 and $3.8 million in 2013, its first full year in existence, the person said.

“Asked whether Quartz was turning a profit, however, the person declined to comment.

“Quartz has never run the standardized display ads encouraged by the Interactive Advertising Bureau as a way of simplifying online ad buys. Unlike many other publishers, it does not make money by embedding article-recommendation widgets powered by services like Taboola and Outbrain. More than 50% of Quartz’s ad deals have a content marketing component, according to the person.”

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