BigShinyThing

Blog overlord Nick Denton of Gawker Media has started to behave like a proper media magnate. An ex Financial Times journalist, Denton made his fortune on First Tuesday (remember them?) a dotcom social networking site that reportedly sold for $50 million and Moreover Technologies, which sold for a reported $39 million. Ever the entrail-reader of digital media, Denton has established a blogging empire in Gawker Media which produces tightly-written blogs on Manhattan media, tech, the LA scene and seemingly anything else which could interest the young professional.

But Denton’s clearly playing a long game. In recent days he’s put two underperforming sites up for sale, reorganised others and even sacked several editorial staff.

The changes come as Denton when apparently on top of his game. Page views at his sites have doubled in the last year; Gawker Media and Nielsen/NetRatings put monthly unique visitors at 4.2 million. The crucial advertisers flock after the sites’ ohsodesirable demographic: Gawker’s media pack boasts “The majority of our readers are 26-35. Around 75% are university graduates, 18% with advanced degrees; over 20% more attended/attending university. Almost 30% have a HHI of over 100K; Over 70% above 50K.” At one point last year the buzz got so loud that even Vanity Fair was forced to take note and gave the key staff of Gawker and Defamer their own double-paged spread.

Denton told the New York Times, “Better to sober up now, before the end of the party. We are becoming a lot more like a traditional media company. You launch a site, you have great hopes for it and it does not grow as much as you wanted. You have to have the discipline to recognise what isn’t working and put your money and efforts into those sites that are.”

Traditional media owners beware – they’re not as fluffy as they look, these bloggers. As Denton notes, “The barrier to entry in Internet Media is low. The barrier to success is high.”