New opportunities emerge during each bullish Bitcoin round. The current enthusiasm has been driven by the influx of institutional investors, as well as major payment processors such as PayPal and Mastercard.
But why are they here to begin with? Much of the recent enthusiasm can be attributed to the huge and violent audience created by several organizations at the forefront: encrypted media companies that have trained millions of early adopters in the trillion dollar market in recent years.
John Ian Wong, co-chair of the Society of Cryptocurrency Journalists and Researchers, a nonprofit that advocates for quality journalism and research in cryptocurrency and blockchain, told the Cointelegraph that Bulls’ business creates a new audience:
CoinDesk started its business during the bullish campaign in 2013, when the value of Bitcoin increased from $ 10 to $ 100. I wrote for CoinDesk at that time, and we benefited enormously from the increase in bitcoin prices. I remember BBC News and CNN called us and asked about “CEO of Bitcoin” because CoinDesk emerged as the main source of news. At that time, people did not know what bitcoin was. ”
He also noted that the number of encrypted media that has existed has multiplied and grown as each bull run creates a stronger and more reliable ecosystem. According to independent analysis, Cointelegraph’s audience has more than doubled to more than 20 million views per month since the end of 2020.
Newly formed media
During the 2020-2021 Bitcoin Bull Race, a number of new cryptocurrency media were created. Blockworks, the financial media brand behind the success of Pomp Podcast, recently launched a cryptocurrency news site to help professional investors understand Bitcoin and digital currencies.
Blockworks co-founder Jason Janowitz told Cointelegraph that the company’s revenue fell 80% month-on-month in March 2020. Janowitz noted that it was a “scary time” for the Brooklyn-based company founded in 2018:
“We went back to basics and talked to our core audience – hedge funds, financial advisors and traditional capital market people with an interest in digital assets. Our main conclusion is that there is still no source of information for these investors. ”
Janowitz explained that he and his team worked daily from April to December 2020 to create a new media site for Blockworks to solve this persistent problem. “Bitcoin is more important than ever. It’s time to create a media site that links Bitcoin and cryptocurrencies in a global macro conversation – it’s Blockworks. ”
Unlike Blockworks, CNBC’s Crypto Trader host Ran Neuner told the Cointelegraph that he recently launched the world’s first live cryptocurrency station – a platform that clearly targets a growing retail and semi-pro audience. According to Neuner, the crypto information platform did not yet exist. He found the problem with this by saying:
“If you need live promotional information, you can get it on CNBC or other major stations. But there was no such thing as information about live streaming of cryptocurrencies. You must be on Twitter or Telegram to get this information, but these platforms are available. full. “Noisy and can not be used.”
As a result, Neuner launched Crypto Banter on YouTube, which he described as “a mix of Bloomberg and CNBC” – a reliable but interesting source of crypto information. In addition, Neoner mentioned that there is a Friday program called The Big Banter that allows listeners to call and communicate directly with Noner and his guests. “This is the future of the media and of course the future of encrypted media,” Noner said.
Neuner makes an important point about reactivity. The Deloitte Media and Entertainment Industry Outlook 2021 report notes that today’s broadcast platforms must first focus on customer needs, stating: “To optimize storage, they must address customer concerns and preferences through a content window, tiered pricing, personalized services and social experiences. .. ”
“Social experiences” resonated with Nuener. He explained that he had previously tried to host a CNBC show on YouTube, but the audience did not respond well to the TV show on a platform other than TV. “The audience wants the interactive content to be short and challenging, so that they can comment and discuss topics with us on the show.”