Monday morning, Dan Abrams launched Mogulite, the seventh blog in the portfolio of niche content sites that make up Abrams Media.
Building off the success of Abrams’s leading site Mediaite, which publishes stories about big-wig media personalities to an audience of 1.7 million unique viewers per month, Mogulite aims to chronicle the moves and attitudes of leaders in the tech, entertainment and finance industries, among others.
In tone, it most closely resembles The Observer; in content, Business Insider and Gawker. On Mogulite, editor Amy Terney says, one can expect to discover which luminary celebrated New Year’s Eve 2005 by singing Johnny Cash songs with Usher, and learn about the financial titan who was able to sidestep a $900 million insider-trading suit by donating $100 million to his own charitable fund — useful knowledge, it seems, to some.
Its target audience? Aspiring moguls, “those who simply like to gaze at wildly successful people from afar,” and the moguls themselves of course, says Abrams.
Like the others Abrams Media properties, Mogulite will be produced by a small staff — in this case, two editors, plus part-time consulting editor Peter Lauria — and funded by display advertising. Men’s clothing brand Bonobos is the launch sponsor, and Abrams says the site expects to have the support of a “major liquor sponsor” beginning mid-May.
Abrams Media has been in the red since its founding in 2009, but Abrams assures us that it will profitable this year.
“In January and February we were profitable but based on expenses and ad dollars we were not in March and April,” Abrams says. “We will be back in the black in May and I hope, and expect, that we will stay there,” he adds, noting that most of the company’s revenue comes from ads on its flagship site Mediate, which has a staff of six.
The startup plans to expand its events business and begin selling spots on its job boards to supplement advertising revenues.
Mogulite is not the only site Abrams plans to launch this year. “We are going to launch two or maybe three more sites this year,” Abrams says. “I have not made a final decision on what industries they will cover, but they will focus on discrete personalities within particular communities.”
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