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The publishing platform Ghost has more than doubled its revenue over the last year, jumping from $1.5 million in March 2020 to over $3.3 million this year, a rise the nonprofit attributes to its unique corporate structure and the surging interest in creator ownership.
The open-source nonprofit is structured as a company limited by guarantee, meaning it has no share capital or shareholders, it cannot be sold and must reinvest its profits into the product.
Founded by developers John O’Nolan and Hannah Wolfe in 2013, Ghost has taken no outside investment and was profitable within its first year of operation.
“We want media companies and individual creators to own their technology, so that no one controls their future,” said O’Nolan, who is CEO.