Who pays the crypto media piper? 

MediaTech.001

Crypto media is the most wild west part of the media landscape. As a media owner who strives for clarity on two key fronts – transparency on who owns the business and strict separation of church and state (editorial and advertising) – I decided to take a look at the nearly 200 crypto blogs tracked by Feedspot.

That is not counting all the Crypto YouTubers and other content in different venues and formats. Talk about Cambrian Explosion!

This is not your father’s 4th estate. Clarity on who pays the piper is breaking down for the simple reason that the advertising driven revenue model has been imploding. Some media owners cut corners in order to survive.

There are so many questions, but I wanted to know one simple thing – who owns the crypto media?

As I am running a business and don’t have a lot of time to do free investigative journalism I restricted my investigation to the top 10 and a bit of lite analysis up to number 50 on the list. I am assuming, maybe wrongly, that below the top 50 will be mostly fly by night operations doing some variant of scraping/aggregation funded by low cost advertising.

For the Top 10, I looked on their site for About Us and used Google to search for “who owns xyz”. Sure, I could go further in my investigation, but it should not be so hard to find this information!

Top 10:

  • Crypto players that are disclosed = 3
  • Undisclosed owners = 5 (some speculation but no hard facts)
  • Reddit/CondeNast = 1
  • Individual Disclosed = 1

That is pretty bad. For crypto players that are disclosed we just have to trust that the players in the crypto business who own the media business try to maintain separation of church and state (editorial and advertising).

Undisclosed owners as 50% of top 10 is pretty bad!

Where are the reader’s yachts?

I changed one word from the old Wall Street line about where are the customer’s yachts (about how brokers and exchanges, like casinos, always win even when the punters lose).

Maybe what matters more than who owns crypto media is, who pays the bills?  In the crypto world that tends to mean advertisers who are brokers and exchanges. They have the money and the motivation to advertise. The product that media owners sell is the reader who thinks they can make money trading (when most don’t). Call them muppets in Wall Street lingo. Call them punters in Casino lingo. Both are honest. Crypto media calls them community – which sounds a bit fluffy! 

Many brokers and exchanges offer leverage. High leverage + high volatility – what can possibly go wrong!

“Advertising signs that con you

Into thinking you’re the one

That can do what’s never been done

That can win what’s never been won”

Bob Dylan 

About Daily Fintech

About Us is prominently displayed at the top of our site. For reader convenience we have copied this below:

Daily Fintech is owned by Bernard Lunn, who wrote the first post on 29 June 2014 and has funded the business since inception. He currently serves as both CEO and Editor and occasional content creator.

Daily Fintech is based on three core principles

  • Insight is valuable
  • Transparency matters
  • Invite only experts with rigorous editorial process

Our work has been recognised with the silver medal in this Feedspot ranking of 100 Fintech blogs

Insight is valuable

The value of online content today is driven by how many clicks that content receives, because the Internet to date has mostly been funded by advertising. Daily Fintech was created to challenge that assumption by asking what is more valuable:

A. 10,000 people each of whom are leaders in the global Fintech market who influence how $ billions of value are created?

B. 1,000,000 (1m) people with no money or influence?

The currency of the web (advertising) says B is 100x more valuable than A. That is clearly broken. We all know that A is more valuable. That insight led us to build a media business that sits at the apex of the knowledge market by being insight driven not news or data driven. We track news and data as a source of insight but we do not focus on delivering either news or data. 

Everything we do is designed to protect the time of the small number of people who influence how $ billions of value are created, because time is the one thing we cannot manufacture more of. That respect for your attention drives how we write and what we write about. It also explains why we don’t employ any of the normal tricks to grab your attention – all of them are as annoying as somebody at a party using a megaphone to talk to you. Our respect for your time is why our platform is highly curated. In order to avoid wasting your time with one off posts with lots of overlap, our Experts write regularly (once per week) within a specific domain.

That insight is made available to you for US$143 a year (which equates to $2.75 per week or $0.39 per day). So your daily insight costs you less than $0.40 and could be worth $ millions. $2.75 buys you a medium size coffee (maybe), or a weekly cost of a subscription to the no. 2 global Fintech blog – caffeine for the mind.

Transparency matters

Separation of church and state (editorial and advertising) is old-fashioned, but we believe it is still important. You should know if the person you wrote what you are reading has a hidden agenda to sell you something. All our content creators follow a strict disclosure policy.

We know who pays our bills – you the reader. That insight is made available to you for US$143 a year (which equates to $2.75 per week or $0.39 per day). So your daily insight costs you less than $0.40 and could be worth $ millions. $2.75 buys you a medium size coffee (maybe), or a weekly cost of a subscription to the no. 2 global Fintech blog – caffeine for the mind.

Invite only experts with rigorous editorial process

 To achieve the mission of delivering unique insight about Fintech each and every day, we have assembled a team of experts who have “walked a mile in your shoes”. Our experts add value because we bring the perspective of our work as entrepreneurs, bankers, senior executives, technologists, investors and consultants. Our insights are created by people like you who also like to write.

We invite experts who really understand the complexities of finance, technology (including crypto). Our view is that it is easier to help an expert in a market learn a few basic journalism techniques than to expect journalists to be experts in complex fast-changing markets.

We do not simply invite them and then let them post anything. Daily Fintech content creators go through a rigorous onboarding process and have to comply with strict editorial principles.

Daily Fintech content creators see this as content marketing with a visibility payoff that is greater than the per article fee that journalists receive today.

Specific to Crypto/Blockchain, Daily Fintech makes no attempt to preach to the choir. We are not writing for people who are already deep into Crypto/Blockchain. Nor are we writing for traders.  Our mission is to make Crypto/Blockchain accessible to mainstream business people. That is not the mythic technophobic grandparent; our readers are smart savvy business people who know the importance of technology, but they are not “in the weeds” of Crypto/Blockchain.

That insight is made available to you for US$143 a year (which equates to $2.75 per week or $0.39 per day). So your daily insight costs you less than $0.40 and could be worth $ millions. $2.75 buys you a medium size coffee (maybe), or a weekly cost of a subscription to the no. 2 global Fintech blog – caffeine for the mind.

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