Nilay Patel talks to Semafor editor-in-chief Ben Smith about the media company's profitable, events-driven business model — which generates about half of its revenue from live gatherings — and the ethical conflicts that pervade journalism today. Smith contrasts his experience at BuzzFeed during the social-media traffic boom with Semafor's diversified approach, now four years old and growing fast.
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Highlights
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Semafor makes half its revenue from events
Semafor is profitable and earns roughly 50% of its revenue through events, not just advertising or subscriptions.
Ben Smith discusses how Semafor handles the ethical dilemmas that are increasingly common in journalism, from conflicts of interest to maintaining editorial independence.
Contrast between BuzzFeed's traffic model and Semafor's diversified revenue
Smith reflects on the differences between building a media company dependent on social-media traffic and building one with a mixed revenue strategy that includes events.