New opportunities arise during each Bitcoin bull run. The current ebullience has been driven by an influx of institutional investors, along with major payment providers like PayPal and Mastercard.
But why are they here to begin with? Much of the recent enthusiasm can be attributed to the vast and vociferous audience that’s been developed by a few organizations on the front-line: The crypto media companies that have spent the last few years educating millions of early adopters on the trillion-dollar crypto market as a whole.
Joon Ian Wong, co-president of The Association of Cryptocurrency Journalists and Researchers — a non-profit organization that advocates for quality journalism and research on cryptocurrencies and blockchains — told Cointelegraph that bull runs build new audiences:
“CoinDesk was started during the 2013 bull run, when Bitcoin went up from $10 to $100 dollars. I was writing for CoinDesk then and we were a big beneficiary of Bitcoin’s rising price. I remember BBC News and CNN would call us asking for the ‘CEO of Bitcoin’ since CoinDesk would come up as the main result for a news source. People had no idea of what Bitcoin was back then.”
He further noted that existing crypto media outlets have doubled down and grown, as each bull run creates a stronger, more robust ecosystem. According to independent analytics, Cointelegraph’s audience alone has more than doubled to over 20 million views per month since the end of 2020.
Newly-formed media outlets
A number of new crypto media outlets have been created during the 2020-2021 Bitcoin bull run. Blockworks — the financial media brand behind the successful “Pomp Podcast” — recently launched a crypto-focused news site to help professional investors understand Bitcoin and digital currencies.
Jason Yanowitz, co-founder of Blockworks, told Cointelegraph that in March 2020 the company’s month-over-month revenue dropped 80%. Yanowitz noted that this was a “frightening time” for the Brooklyn-based firm which was launched in 2018:
“We went back to basics and spoke with our core audience – the hedge funds, financial advisors, and more traditional capital markets professionals who are interested in digital assets. Our main takeaway was that there still wasn’t a single source of information for these investors.”
Yanowitz explained that he and his team worked daily from April-December 2020 to build out the new Blockworks media site to solve this ongoing problem. “Bitcoin has become more relevant than ever. It’s time we had a media site that ties Bitcoin and crypto into the global macro conversation — that’s Blockworks,” he remarked.
In contrast to Blockworks, Ran Neuner, host of CNBC’s Crypto Trader show, told Cointelegraph that he recently launched the world’s first livestreaming crypto station — a platform clearly oriented more to the growing retail and semi-pro audience. According to Neuner, a livestreaming crypto information platform hadn’t existed until now. He found this to be problematic, stating:
“If you want livestreaming information on stocks, you can get that on CNBC or other mainstream stations. But there was no such thing as livestreaming information for crypto. You would have to be on Twitter or Telegram to get this information, but these platforms are so full of noise they are unusable.”
As a result, Neuner launched Crypto Banter on YouTube, which he describes as a “combination of Bloomberg and CNBC” — a credible, yet fun source for crypto information. In addition, Neuner mentioned there is a Friday show called “Big Banter,” which allows listeners to call in and chat directly with Neuner and his guests. “This is the future of media and certainly the future of crypto media,” Neuner remarked.
Neuner makes an important point regarding interactivit. Deloitte’s 2021 media and entertainment industry outlook report notes that streaming platforms today should focus on customers’ needs first,…