Semafor Takes Aim at Davos as Events Surpass 50% of Revenue
The news publisher Semafor is doubling down on live journalism, unveiling four senior hires on Wednesday as part of a broader bid to build out its events business, expand globally, and challenge the primacy of the World Economic Forum in Davos, Switzerland.
Since its launch two years ago, the startup newsroom has incorporated events prominently into its commercial and editorial strategy, with cofounder and chief executive Justin Smith calling events its “core” business. Semafor now brings in more than 50% of its revenue from the division, according to Smith.
The publisher has similarly focused on offering its audiences a global perspective, with notable coverage of dynamic regions including the Persian Gulf.
Related Knowledge Center: State of the business model
The traditional journalism business model has long since collapsed, and news organizations have shrunk or disappeared entirely. While a number of promising experiments are under way, the public has not shown a willingness to buy what news organizations are selling.