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I’ve been reading about Destra. I hadn’t really known much about them until recently but as Australia’s largest (and fastest growing) independent media company there’s plenty about which to be impressed.
On their About page, they describe their business model, which is essentially
Create, represent and acquire IP
Build communities to consume entertainment content
Monetise via these services
It occurs to me that traditional media companies, especially publishers, have always done steps 1 and 3. That’s their model. The market for the content is assumed and the books are monetised via well-worn retail distribution channels.
What’s relatively recent and increasingly important is step 2 – building communities to consume entertainment content.
Amid increasing noise in the distribution channels – both physical and digital – building loyal and active communities is a good way to ensure there’s an audience for your products.