Media companies are in the business of creativity.  Whether it’s going from a blank Google Doc to an essay filled with insights, or from a notepad with rhymes to the most successful Broadway play of all time, creativity is the core of every media business. Yet, when it comes to the business of media creativity…

FOS is bought by Crain’s TLDR: Crain Communications bought a 20% stake in Front Office Sports for $5M, a media company covering the business of sports primarily via newsletters and social channels. The deal valued FOS at $25M. As part of the deal, the CEO of Crain Communications will join the board. Perpetual’s Perspective: Adam White and…

Club CPG Community hit 27 ETH Floor TLDR: Chris Cantino and Jamie Schmidt, founders of Schmidt’s Naturals, started a community about 6 months ago. The goal was to have a curated group of leaders in the CPG community. The Telegram-based community shares deal flow, insights on the industry, and talks shop almost all day. The minimum…

The average SaaS business spends between 30-35% of their ARR on marketing.  The average media business is different. The NYT spent less than 8% of its revenue on marketing in 2020 — and they’re not an exception. After speaking with 10+ media operators, 4 said they spend $0, and 1 brave soul is currently spending…

Steinberg is leaving Altice TLDR: Jon Steinberg is leaving Altice, the parent company of Cheddar. Steinberg sold Cheddar for $200M 3 years ago. The former BuzzFeed exec announced he’ll be getting back to his entrepreneurial roots. Perpetual’s Perspective: Steinberg may be the greatest hype founder in the last decade or two of media. I still don’t…

The good, the bad, and the ugly of advertising — and how to do it right I’ve worked in a business where advertising is the main line of revenue for nearly a decade.  In the last 24 months, I’ve never heard such hate for a business model.  Yesterday I met with a prominent VC to…