While most of the startups we see belong to the tech world, a rare few are also media startups. However, as Kartikeya Sharma iTV Network says, the latter has a big advantage over the former. And it’s usually in the form of a much better survival rate.
It’s a fact that a vast majority of all tech startups end up shutting the shop within 3 years of starting. On the other hand, a much better number of media startups manage to stick around even after 3 years, with many of them growing and thriving better than most tech startups.
However, a media startup isn’t all roses, either. There are some challenges there, too, and these helpful tips may help you deal with them better.
Don’t Compete with the Bigger Players
There are already tens of online media outlets focusing on mainstream news, including political news. It’s hard to beat that kind of competition when just starting out, especially if you’re not backed by investors willing to pump in millions of dollars every year.
Focusing on Viral News
And this is where this great little strategy comes in: Focusing on viral news. Most of the mainstream media outlets don’t focus much on viral news, meaning that the space is still well open for new players.
And guess what? The market is also big enough to allow your startup to grow and thrive will it manages to establish itself to take on the bigger players out there.
Too many new media startups seem to make the mistake of getting into controversial news stories. While this can be great for the viewership and traffic, it can lead to legal issues that may cost the startup big time.
Hence, it’s better to steer clear of them when starting out.