OLD Media Moves

Richmond business news Web site now making money

April 13, 2009

RichmondBizSense.com, a business news Web site for the Richmond, Va., area, is now making money after nearly two years in operation, writes founder Aaron Kremer.

Kremer writes, “After almost exactly two years as a business and 13 months of publishing business news online, we have more revenue than expenses. It’s not by much, and none of us could support but the most meager subsistence on our salaries, but we’ve still crossed the elusive profitability threshold.

“We know these are tough times in the media business, and we could cross back into unprofitability as quickly as we jumped into profitability. But we can now attest that local companies will pay to get their message in front of a targeted audience of business owners and professionals. That was our hypothesis, and thank goodness it’s true. (Hard swallow).

“Between our Daily NewsFeed and the website, we reach about 3,000 local readers a day.  So despite glaring headlines about the death of news, the web didn’t kill journalism: It just changed the way people get their journalism.”

“And for all the talk about Twitter and Facebook and whatever might be the next online fad, people will still seek solid news because they need it. That will never change.”

Read more here. DISCLOSURE: Kremer is one of my former master’s students, and I interviewed him last year about his venture. That can be found here.

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