Last night I was catching a train and noticed that two people in my carriage were reading separate newspaper articles with the word “blog” in the title. As I reflected on this, my insight was that blogs are becoming more pervasive. As they do there will be the inevitable consolidation and M&A activity.
Enter from stage left: one of the blogging industry’s key characters…Nick Denton.
His company, Gawker Media, has sold its music blog Idolator to Buzznet, the social media music platform. This follows on from Buzznet’s recent acquisition of Stereogum, arguably the world’s most popular music blog.
Mashable notes that Idolator and Stereogum combined bring in 300,000 monthly visitors in the US. No reports yet on the sale price, but clearly Buzznet is making good use of its recent $25m funding round.
Mediabistro points to an email from Nick that Gawker Media has spun off not only Idolator, but also Gridskipper and Wonkette. It seems that it all comes down to economics – a bigger vertical play will be able to attract higher ad rates, as Nick says:
Why these three sites? To be blunt: they each had their editorial successes, but someone else will have better luck selling the advertising than we did.