IBT Media

IBT Media
Type of site
 Publication
Owner Etienne Uzac, Johnathan Davis
Website corp.ibt.com
Commercial Yes
Launched 2006
Current status Active

IBT Media is an American global digital news organization with over 90 million monthly readers.[1] It publishes the International Business Times and Newsweek, among others. IBT Media is headquartered in New York City, in the Hanover Square neighborhood of Lower Manhattan.[2] As of 2014, the company posted revenue of about $21 million and generated a profit of about $500,000.[1]

Overview

IBT Media has several brands that it has built organically through specialty vertical sites and also international editions.[3]

IBT Media focuses on online publication, but relaunched the Newsweek print edition in 2014.[4] It says its aims are to engage "a new generation of readers with content that speaks to their interests, analysis that serves their businesses, and insight to make sense of a globally connected world"[5] and to foster global economic growth.[6]

IBT Media also says that it tries "to use good Internet techniques in trying to uncover little things that are important, like SEC filings, unique data points, speeches business and political leaders give in the more obscure venues, and thinktank or NGO reports",[6] and that it believes in the "second-minute story", where the all-important second-day story—the one that delivers context, analysis and explanation—is now in Internet time.[7]

Corporate structure and revenue

IBT Media says it is a privately held company, owned by Etienne Uzac and Johnathan Davis,[8] has not received outside funding,[9] and has grown with a focus on being an "efficient company", concentrating on the "revenue side as well as on the expenses".[10][11]

It started in 2006, with personal savings, an SBA bank loan, and no input, financial or advisory, from VCs.[9] It has been profitable since 2010.[3][9][10][11]

It has also grown through the acquisition of Newsweek.[12]

The company derives its profits primarily from advertising and has been profitable since 2010.[11] It says it has recently undertaken new ventures to become a "multi-product global media group"[13] and to diversify capital, including adopting Newsweek's subscription models across its properties, and launching a new business-to-business arm.[3][10][14]

Innovations

IBT Media had run on a proprietary content management system that it has built over several years. The company started to tie-in real-time analytics into the newsroom as early as 2010, and based on those results, optimize follow-up content, positioning, and editorial calendars to serve readers. Social feedback is also built into the newsroom.[4]

The company has also created platforms for content. Bizu, a video platform for business professionals hosts content and also offers incremental revenue streams to content providers.[13]

The company also launched a platform for users to submit and discuss sports content, called SportsNet, in beta. Its aim is to "fans and experts around the world to contribute on any sports related topics" while allowing fans around the world to interact. It had 400 contributors as of 2012.[15]

Partnerships

IBT Media says it has an ongoing "working relationship" with Olivet University which includes the school providing design assistance and computer resources, and IBT Media providing internships for students. It characterizes it as similar to the relationships Silicon Valley companies have with local universities.[12] However, publication Christianity Today alleges that IBT Media has a close relationship both with Olivet and with its founder, controversial[12][16] evangelical pastor David J. Jang. It claims that Jang is an investor in and has exercised control over IBT Media, that Davis was formerly director of journalism at Olivet, and that Uzac was its Treasurer, at least at one time.[12][17][18] Executives characterize the relationship as between the institutions and not the founders, and that it was purely operational.[11][12]

IBT Media is part of Economist's "Ideas Channel", an ad-network based on mindset rather than demographics, set up in part to reach "an intellectual and often influential audience interested in business, politics and science".[19]

IBT Media’s Bizu video platform partners with IDG Communications and France 24. for content, and Digitas and PJA Advertising and others for monetization of the platform.[13][20]

The company's brands publish to a number of 3rd party platforms, including Flipboard, Zite, and The Washington Post's Social Reader.[21]

Assets

Chronology

References

  1. 1 2 Kaufman, Leslie. "Tiny Digital Publisher to Put Newsweek Back in Print". NYTimes. Retrieved 2014-08-14.
  2. 1 2 Stoeffel, Kat (6 July 2011). "Braving Bad Juju, International Business Times Moves Into Newsweek's Old Newsroom". The New York Observer. Retrieved 2011-10-09.
  3. 1 2 3 Rondon, Michael. "Meet IBT Media: The Future of Newsweek". Folio. Retrieved 2013-08-06.
  4. 1 2 Moses, Lucia. "Newsweek Relaunches in Print". AdWeek. Retrieved 2014-03-06.
  5. ↑ "Corporate About". Retrieved 2013-08-05.
  6. 1 2 Roush, Chris. "Rothfeder named Editor in Chief". TalkingBusinessNews. Retrieved 2013-08-06.
  7. ↑ Rothfeder, Jeff. "Where the second minute story counts more than the first". MediaPost. Retrieved 2013-08-06.
  8. ↑ https://www.linkedin.com/in/johnathan-davis-037b1b10
  9. 1 2 3 "The mysterious company that just bought Newsweek". Fortune. Retrieved 2013-08-06.
  10. 1 2 3 Sebastian, Michael. "What IBTimes wants with Newsweek". adage. Retrieved 2013-08-06.
  11. 1 2 3 4 Bercovici, Jeff (5 August 2013). "Meet the mysterious duo who just bought Newsweek". Forbes. New York. Retrieved 2013-08-06.
  12. 1 2 3 4 5 Lauria, Peter (3 August 2013). "Newsweek's New Owners Say They Bought "A Lot Of Cachet"". BuzzFeed. Retrieved 2013-08-06.
  13. 1 2 3 Knight, Kristina (14 January 2013). "New platform to focus on business related media". BizReport. Retrieved 2013-08-06.
  14. ↑ Politi, Daniel. "Where the second minute story counts more than the first". Slate. Retrieved 2013-08-06.
  15. ↑ "Cynopsis Sports". Retrieved 2013-08-05.
  16. ↑ Smietana, Bob (16 July 2012). "LifeWay land deal with Calif. school faces scrutiny". USA Today. Retrieved 2013-08-06.
  17. ↑ McCarthy, Tom (5 August 2013). "Newsweek is dead. Long live Newsweek?". The Guardian. London. Retrieved 2013-08-06.
  18. ↑ Bercovici, Jeff (5 August 2013). "Meet The Mysterious Duo Who Just Bought Newsweek". Forbes. New York. Retrieved 2013-08-06.
  19. ↑ Siegel, Fern. "Economist Ideas Channel Targets Elite". MediaPost. Retrieved 2013-08-06.
  20. 1 2 "Cynopsis Digital". Retrieved 2013-08-05.
  21. ↑ Owen, Laura Hazard (23 July 2012). "IBT Media Launches 'The Latin Times' Targeting U.S. Hispanics". PaidContent. Retrieved 2013-08-06.
  22. ↑ "Corporate Brands". Retrieved 2013-08-05.
  23. 1 2 3 McGann, Lisa Schultz (December 5, 2014). "Newsweek Named Relaunch of the Year by Media Industry Newsletter". Digital Journal. PR Newswire. Retrieved December 25, 2014.
  24. ↑ "About Us". Medical Daily. IBT Media. Retrieved 26 December 2014.
  25. ↑ "About Us". Latin Times. IBT Media. Retrieved 26 December 2014.
  26. ↑ "About Us". iDigitalTimes. IBT Media. Retrieved 26 December 2014.
  27. ↑ "Corporate Timeline". Retrieved 2013-08-05.
  28. ↑ Martinez, Laura. "IBT Media Launches 'The Latin Times' Targeting U.S. Hispanics". Portada. Retrieved 2013-08-05.
  29. ↑ Haughney, Christine (4 August 2013). "Newsweek, Sold in 2010, Changing Hands Again". The New York Times. Retrieved 2013-08-05.
  30. ↑ Launder, William (3 August 2013). "IBT Media to Buy Newsweek from IAC". The Wall Street Journal. New York. Retrieved 2013-08-05.
  31. ↑ "Tiny Digital Publisher to Put Newsweek Back in Print". The New York Times. 3 March 2014.
  32. ↑ "Newsweek announces it's profitable".

External links

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