Strategic Considerations for Medium’s Startup Acquisitions
Over the past few years, I've followed the challenges faced by numerous media sites that could be characterized as startups. Many of these sites, once thriving, now find themselves grappling with the complexities of maintaining profitable ad-supported businesses. Notably, Medium, the platform known for its curation of quality content, provides an intriguing opportunity for some of these struggling media sites to thrive again.
Medium's Potential for Startups
Substantial evidence suggests that platforms like Medium could be more beneficial for startups than their independent operations. The ecosystem on Medium is designed to attract, engage, and retain a diverse audience, which can significantly enhance the profitability of subscription services. Therefore, considering strategic acquisitions that align with Medium's goals can be highly advantageous. Specifically, focusing on creating bundles of publications that highlight the value of subscriptions could drive subscriber growth.
Creating Valuable Subscription Bundles
From Medium's perspective, the next logical step for their subscription service is to create advertising bundles of publications that passionately advocate for the benefits of a subscription. This approach mirrors the successful marketing strategy employed by platforms like Disney Plus, which introduced subscription bundles featuring popular content. For instance, when adults were introduced to a bundle that included Mandalorian, Marvel, and Star Wars, many were compelled to subscribe to the entire package rather than just individual shows.
This bundling strategy is particularly beneficial for niche publications on Medium. For example, Clickhole and College Humor, which have recently downsized to smaller teams, can form a "fun" bundle that appeals to a broad audience. With The Onion losing some of its shine and Twitter no longer providing the engaging experience it once did, this bundle could fill a void for humor and pop culture enthusiasts. While it may not be compelling to everyone, it has the potential to attract a significant number of subscribers.
Strategic Thinking in Digital Publishing
Reflecting on my experience with Better Programming, a large publication on Medium, the idea of acquiring Linux Journal when it shuttered initially seemed appealing. A strategic acquisition such as this would not only bolster the content offerings but also align with Medium's mission to support high-quality digital publishing. By bringing in the expertise and subscribers of Linux Journal, we could create a robust ecosystem that resonates with a wide audience interested in programming and technology.
The reasoning behind such an acquisition is multi-faceted. Firstly, Linux Journal has a strong brand and loyal readership, which can be leveraged to increase Medium's own subscriber base. Secondly, it would provide a valuable addition to Medium's content portfolio, offering expertise and resources that complement existing publications. Thirdly, it would signal to the tech community that Medium is committed to supporting important and relevant publications.
Conclusion
In conclusion, strategic acquisitions can play a pivotal role in the success of startups on Medium. By aligning with Medium's ecosystem, startups can realize greater profitability and sustainability. The creation of subscription bundles, akin to those offered by Disney Plus, can be a powerful tool to drive subscriber growth. Such bundles, even if not favored by everyone, can cater to a broad audience, providing a compelling reason for users to subscribe to multiple publications on Medium. As a professional in digital publishing, I am enthusiastic about exploring opportunities that can bring value to both Medium and the startups it supports.