The $100 million wall: Digital media's scale struggles
Earlier this month, Genius, which started as a rap annotation platform, decided that now it would become a video-focused company. It's a familiar story: A VC-backed company turns to what it hopes will be a lucrative revenue stream in a dash to satisfy growth-hungry investors. There's been a flood of venture capital into media — an estimated $15.6 billion in venture capital funding was put into digital media deals for the past three years, up from $4.5 billion the three years prior.
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