💰 Valuing Podcasts

This week I discuss the state of the content site market, valuing podcasts as digital assets and Nike OF1 boxes now available

Together with

Hey there 👋,

In this week’s newsletter, I discuss:

  • The state of the content site market

  • Valuing podcasts as digital assets

  • Nike OF1 boxes finally available to the public


Richard Patey - @richardpatey


📉 The State of the Industry

Empire Flippers just released their state of the industry 2023 and as usual it’s full of great insights for website investors.

First up, the average days on market in 2022 increased vs 2021:

Content sites were on the market for an average of 39.15 days in 2021, and increased to 49.93 days in 2022. This business model represents the lowest number of days on the market of any business model, though there is a gradual increase from the 2018 and 2019 averages of 21.86 and 30.71 days respectively.

As such, earnouts, either as fixed (time-based) or performance-based, increased significantly in 2022 vs 2021:

Content site business deals closed with 12 earnouts in 2021, which increased to 20 earnouts in 2022.

Advertising as a monetization has seen a big increase, with amazon associates sites decreasing:

In an almost mirrored contrast to Amazon Associates sites, from 2021 to 2022, we saw a 56.14% increase in purchase volume for display advertising-focused content sites. With Amazon Associates becoming less profitable and with display advertising being in most cases an immediately accessible monetization option for content sites, it would make sense that sellers would focus more on this channel and that buyers would gravitate towards acquiring these types of content sites.

Content site multiples saw a slight drop to 40.98x in 2022 vs 41.71x in 2021:

And this chart showing a 50% YoY sales volume drop is the most dramatic in terms of the tale of the tape with the online business market in general:

Read the full report here:

🏚️ How To Buy & Renovate Websites For Remote Income (Masterclass)

Matt & Liz from the eBusiness Institute come from an extensive M&A background, buying, renovating and selling websites valued up to $20M.

They were one of the first in the world to buy & renovate a portfolio of websites before marketplaces like Flippa even existed. They now teach beginners to reach 6 & 7-figure website portfolios to successfully replace their incomes.

They have trained some of the best website investors and brokers, including...

  • Joe Burrill of Just Website Brokerage who started as Matt and Liz's student almost 10 years ago. Today Joe's is the #1 website broker on Flippa and has done over $4M in deals.

  • Lucy & Gary started with no technical knowledge. But today they use their 6-figure income from their websites to do what they want and when they want.

  • Mark & Silvia started with no website buying experience either. But now their websites bring in $10,000+ per month in semi-passive income.

They are running a masterclass, where you'll see how successful students are buying & renovating websites for leveraged income, including real examples of websites bought and sold.

Thanks to eBusiness Institute for sponsoring this issue 🙏


🤖 Valuing Podcasts

It’s not often you see a podcast listed for sale, let alone the biggest one in our space, almost certainly Entrepreneur On Fire:

It has an almost 7x annual profit asking price, which is unlikely to be met, seeing as a considerable amount of the current value is from the host John Lee Dumas. If this sells, I’d think it would be a lot nearer to a 3x multiple than 7x.

But as someone who has sold two podcasts previously in private deals (Flipping Websites and Website Investing Podcast), it’s great to see podcasts becoming digital assets that I can feature in this newsletter.

Here’s the link to the listing:


✔️ Patey.Swoosh

After a long delay, Nike Dot Swoosh account holders are able to mint OF1 boxes in the general access sale (I first covered this back in April):

No matter whether you select the the new wave box or the classic remix box, you will have a chance to reveal a rare:

I just purchased a new wave box:

Let’s see what it reveals.

Here’s the link to the collection page, they were still available as I write this:


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Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on digital asset news and what I'm doing personally - consider it informational and for entertainment purposes only.

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