Felix Salmon, the financial columnist who quit Reuters to work at the television channel Fushion, took to Medium to explain his move and how he wants to diversify the channel’s revenue streams so it’s not beholden to diminishing CPM advertising:
So here’s the idea: let’s say we can serve up high-quality Fusion-branded content to a new generation of digital natives, and that they love that content. If and when that happens, it’s going to be a lot easier for the cable companies to persuade that audience to pay for cable TV if their cable lineup also includes Fusion. The content won’t be the same, of course — but the brand will be. And the cable companies are going to want the Fusion brand on their lineup because that’s the only way they’re going to be able to seem relevant to anybody under the age of 32. The result: Fusion has negotiating leverage with the cable channels, and becomes very valuable.
Here’s where things start getting really cool. What this means is that it doesn’t matter where people consume our digital content: it only mattersthat they consume it. So while everybody else fights with each other to get millions of unique visitors to their websites, we will be happy to go reach the audience wherever they are. Of course, we will have an excellent website of our own — the amazing Hong Qu is hard at work building it as we speak. But in no way will we feel constrained by that website. If our audience is on Instagram, we’ll make 15-second videos for them on Instagram. If they’re on Upworthy or BuzzFeed or Vox or even Snapchat, we’ll try to find a way to reach them there, too. It’s what I call promiscuous media: put everything where it works best.