It seems John Batelle's prediction of media conglomerates acquiring blogs in 2008 is becoming a reality. Universal has just bought Stereogum for $5 million.
Read about the story here
Who is going to be the next buyout target? I'm putting my money on Perez Hilton. If anyone at Emap/Bauer is reading this snapping up Perez may just save the Heat brand.
Comment back with your tips...
3 comments:
unbelievable! This is proof that the music industries future is built around music as a free entity and profit being driven from ad revenue.
i think that's true for the entire creative industries, and digital businesses at large. Check Chris Anderon's wiki for enlightenment
http://howto.wired.com/wiki/Make_Money_Around_Free_Content
ps. and Madonna's recent advertising promotions ahead of her album release is an illustration of this.
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