Crypto news site Blockworks expects $8-10 million in 2021 revenue
Blockworks, a financial media brand catered to investors, anticipates bringing in $8-10 million in revenue this year, while being profitable, executives tell Axios.
Why it matters: It's the latest crypto media company to see success amid Wall Street's digital currency boom.
- “For the first time ever, crypto has become relevant to the global macro-economic conversation, and therefore, the investment conversation," says Jason Yanowitz, co-founder of Blockworks.
Details: Founded in 2018, Blockworks says it plans to double in staff from 17 to nearly 40 by the end of the year, with the majority of new hires coming from the content side of its business.
- The NYC-based firm is most well-known for its editorial site, daily newsletter, conference series, and its network of nearly 20 podcasts.
- On its website, Blockworks lists two dozen strategic advertising partners, including Fidelity Digital Assets, CME Group, Coinbase, Gemini, and BlockFi.
- The company is run by co-fonuders Jason Yanowitz, who runs sales, marketing and growth and Michael Ippolito, who manages editorial and finance.
The big picture: For crypto media companies, the risk of specializing in something so niche is beginning to pay off.
- “Our core belief is that crypto is an entirely new asset class, and it's going to continue to grow," Yanowitz says. As it grows, it'll start to look more and more like traditional finance."
- "Investors will need a publication that supports that transition, and arms them with the information they need. To do so, we’re continuing to invest heavily in content, building products that serve our audience of investors.”