An Investor's Perspective on the Secrets to Media Business Success

- What do investors look for when investing in media companies?

- Why is Venture Capital not a great fit for the media industry?

- Are media business models still viable?

- Do media companies need fewer advertising people and more executives who understand media?

Of all the conversations I've had in the short life so far of the "Not Just ADZ" podcast, my discussion with Turi Munthe stands out as the most comprehensive. Turi has held a wide range of roles in the media space: journalist (covering the 2nd Gulf War), author, scholar, activist, investor, and media advisor. He currently sits on the board of GEDI Gruppo Editoriale, Italy's largest newspaper conglomerate.

As I mentioned to him, I particularly value having a media investor and advisor who "walks the talk."

Drawing from his latest role, we discussed several topics, particularly focusing on the future of media business.

Key takeaways that resonated with me:

"I have invested in media companies across the world, from Manchester to Indonesia to Mexico. In every successful case, there was a close link between the founders and their audience. A media brand needs to represent its audience. I've witnessed many people my age running media companies for audiences 20 years younger – they've all failed because you cannot represent something you're not."

"We don't know how GenAI might play out in terms of audience trust. There's even an argument that AI will remove journalistic bias."

I must also acknowledge the power of networking. Without Mark Rogers' introduction, I would never have met Turi a few years ago – and what a loss that would have been!

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