![]() What’s the deal with Outside.io?Īs expected, it was basically doomed on arrival. ![]() November 2022 - Additional layoffs and the pausing of their NFT initiative. May 2022 - Layoffs across the company and an announcement that print titles would be reduced by 80%. From that article: “…Maybe rolling up all outdoor publications into a conglomerate on a single subscription isn't working out that great and you’re using web3 to make Outside+ feel new…Maybe they’re hoping this gets enough traction and has enough web3 buzz words to drive new venture funding for Outside to extend their runway and buy time to figure things out”. I wrote about it at the time and how it seemed mis-managed and didn’t really make much sense. June 2021 - Outside+ subscriptions launch, combining a range of benefits across titles and companies.Īpril 2022 - Outside announces their Outside.io NFT initiative. Granted, there are exceptions and that may not be the case here (I hope this turns out to be a net positive for employees/freelancers/the industry) - but I would expect to hold my opinions for another 6-12 months to see how things shake out.” ![]() Long term, you also have to have a product direction that justifies that major investment. At some point, this probably means combining teams for efficiency, eliminating less profitable titles, or inadvertently (or intentionally) pushing competitors and new entrants out of their extremely large and valuable ecosystem. It’s hard to overstate how many companies have lost the plot in their pursuit of constantly growing numbers in order to satisfy their investors. Here’s what I wrote at the time: “Unfortunately, raising $150 million in funding means you’ve got some folks to answer to re: growth in both audience and revenue. June 2020 - Pocket Outdoor Media (POM) raises a $16.5M Series Aįebruary 2021 - POM raises $150M Series B and buys/rebrands as Outside. Now, if you’ve been following the state of outdoor media, the economy, the advertising industry, and crypto, this probably isn’t that surprising – but let’s break down the timeline that got us to this point.
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