Making Media
Episode 51 The Evolution of FreightWaves
Making Media

Episode 51: The Evolution of FreightWaves

Making Media

Episode 51

The Evolution of FreightWaves

Craig Fuller is the CEO of FreightWaves and FLYING Magazine. We cover how he launched a media business for FreightWaves, his playbook for acquiring specialized publications, and how he turned around a 100 year-old magazine.

(00:02:38) - (First question) - Craig’s initial mindset when launching FreightWaves

(00:05:37) - Craig’s observations about fundraising when shifting the business into a media business

(00:13:08) - How he bridged the gap between his industry expertise and the media business' need for specialized knowledge

(00:17:35) - How his media business was initially funded

(00:20:46) - Disparity in market valuation with audiences undervalued and some SAS businesses overvalued

(00:26:14) - The motivation in pursuing the purchase of Flying magazine

(00:31:02) - Lessons learned from attaching real estate to audiences compared to finance or e-commerce

(00:34:15) - The strategy behind acquiring numerous media outlets

(00:37:54) - Economic principles for managing acquired magazines

(00:39:33) - The correlation between the aviation and freight industries

(00:40:46) - The importance of having an interest in an industry before acquiring an existing audience

(00:43:47) - The elements Craig tries to enhance when revamping older magazines

(00:47:39) - Shifting advertiser mentality into niche marketing and its ultimate success

(00:49:46) - The early challenges of switching to a specialized, niche audience

(00:51:08) - Whether this model works for all magazine or if niche marketing is only successful with expensive product content like planes

(00:54:58) - Debrief

 

The Evolution of FreightWaves

Introduction

Matt
Welcome back to Making Media. Today, we have Craig Fuller, Founder and CEO of FreightWaves, CEO of FLYING Magazine; increasingly, a magazine tycoon. And this was a really fun conversation. We hit on a wide range of media topics that are frequently discussed on this show.

So we get into content to commerce, some of the early observations that Craig had when he was building out FreightWaves, which is very much a software data business with a media empire sitting around it. We get into what it's like to fundraise for a media business or the challenges associated with fundraising for a media business and why the market doesn't put a value on audiences. Craig has found an opportunity with some of these niche audiences.

And that brings in the second half of our conversation where we get into his playbook, with buying up niche magazines around things like private aviation and boating, and what he's been able to do, why it's so important to capture the full audience base and some of the fun projects that he has been tying in around those audiences.

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