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Stereogum Launches Indiegogo:

Discussion in 'Article Discussion' started by Melody Bot, Jun 29, 2020.

  1. Melody Bot Jun 29, 2020
    Melody Bot

    Your friendly little forum bot. Staff Member

    This article has been imported from chorus.fm for discussion. All of the forum rules still apply.

    Stereogum:

    Our small team has always thought of itself as a DIY operation, which was difficult to reconcile while part of a corporate conglomerate. We’re grateful to finally be in charge of our own destiny. We set out with a solid plan to diversify Stereogum’s business, which currently derives all of its revenue from advertising at a time when 70% of all digital ad spending goes to Google, Facebook, and Amazon. We knew building a sustainable operation would not be easy. But since March, like so many other publications big and small, we have seen our advertising revenue plummet more than 50% because of the COVID-19 pandemic. Concerts and festivals, historically our biggest advertisers, have disappeared entirely.

    God, I feel this. The ad market basically fell off a cliff in March and it’s been pretty terrifying. Stereogum have launched an Indiegogo to try and raise $250,000 to keep their website running.

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  2. blast0rama Jun 29, 2020
    blast0rama

    Internet human. Supporter

    Hit the $50 tier as soon as I saw the post this morning. Hope it works out.
     
  3. Phil507 Jun 29, 2020
    Phil507

    Resident NYC snob Supporter

    I work in the the ad industry (Though sadly got let go when all the shit hit the fan back in Mar and still unemployed). Ad spend is down across the board, as brands are cutting their scope and marketing budgets. The only one positive that MIGHT be good news for digital is that because most TV production is delayed, the dollars usually committed for the upfronts might be reallocated to digital since traffic there has spiked in the past 3-4 months. Of course, whose to say that advertisers still were planning to spend a ton in the upfronts anyways with all this but just wanted to provide a small glimmer of hope.