News Publisher Grid's Interconnected Approach

Digital news publisher Grid debuted Wednesday with a series of stories, such as its intersectional report on the misinformation surrounding Covid vaccines and pregnancy, that reflect the multidisciplinary approach that it hopes to make its signature. Its launch comes amidst an explosion of new media companies and products, such as the forthcoming Axios Pro, soft power watchdog Puck and an unnamed venture from industry veterans Justin Smith and Ben Smith, all of which hope to take advantage of booming advertising revenues and subscription budgets. Grid, like other smaller outfits built for thoughtful analysis rather than breaking news, hopes to leverage its niche but influential audience into financial stability. Branded content soon, paid products later The 30-person newsroom tackles subjects seemingly disparate in nature, such as population decline in China and a monopoly in high school cheerleading, using long-form analysis studded with data visualization. Its specialty format, called a 360, further breaks down complex stories by approaching them from certain lenses, such as race, climate change and misinformation. Led by journalists Laura McGann and Mark Bauman, the publisher plans to build a large audience by keeping its reporting free to access and introducing podcasts, video and events in the spring, chief revenue officer Brad Bosserman told Adweek. Protocol Revenues Rise 150% as Tech Advertisers Target Policymakers Initially, Grid will rely on a mix of programmatic and direct advertising, as well as newsletter sponsorships, to generate the bulk of its revenue. Eventually, the publisher will introduce consumer subscription products, though it has no plans to paywall its core news offering. Grid declined to offer a timeline for those releases. The Washington D.C.-based publisher will offer branded content in a way that helps distill complex issues into digestible segments, Bosserman said. Its 360 story format will serve as the template for the kind of bespoke content it can produce for clients. “There’s an entire addressable market of different organizations who would say, ‘Okay, we also have complex issues that we are trying to communicate to a whole set of stakeholders. If you can help us create content in a way that is actionable, interesting and contextualized appropriately for our audiences, that's something we're excited to pay for,’” Bosserman said. The advertising portfolio Grid's potential audience numbers in the tens of millions and is connected by a need for high-quality information to do their jobs, Bosserman said. The publisher sees its pool of brand partners stemming not from certain industries, per se, but rather from a shared interest in explaining complex issues: companies with brand marketing budgets, advocacy budgets and those who want to communicate with decision-makers. The publisher has a number of launch partners, including the trade association PhRMA and political communications agency Climate Power. “We’re building our brand on our ability to explicate complex issues,” Bosserman said. “That brand is a place where sponsors are excited to show up.” Favorable economic conditions As an independent publisher, Grid will have to build its audience from scratch, no simple feat considering that the media industry around it is rapidly consolidating to achieve scale. Without immediate scale, the start-up will have to rely on its intersectional approach to differentiate it from its competitive peers and win advertising budgets, said Jeff Giocondi, avp of optimization and innovation at digital marketing services company Kepler Group. “From an advertising perspective, the key questions are around scale, the audience that would be attracted to this style of journalism and brand safety,” Giocondi said. “Specifically: Will this unique style of journalism be a large enough differentiator to pull users from other new sites?” However, the favorable economic conditions of the moment have made now an opportune time to launch a media venture, said David Clinch, the global head of partnerships at Mather Economics. Four blockbuster acquisitions in five months––Axel Springer purchasing Politico, Dotdash buying Meredith, Vox Media folding in Group Nine and The Times acquiring The Athletic––have created a market froth, and many publishers emerged from 2021 with record-breaking advertising revenues. “This is the ‘good old days’ for media revenue, right now,” Clinch said. “There's no perfect world––it could always be better––but for people who get it right, digital advertising and subscriptions are doing very well.”

Branding

News Publisher Grid Aims to Differentiate Itself Through Its Interconnected Approach

The company will put its signature collaborative style to use for brand partners

Mark Stenberg

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Mark Stenberg