Day: 2 Media and Entertainment vertical

[Richard]

Good afternoon, since joining BuSo I've created a couple of posts on here- primarily questions. I'm in the process of choosing a vertical, and as the Day 2 thread says I'll focus on what doing what I enjoy, has huge amounts of money in it, and I have skills for.

I've narrowed my choices down to a couple of verticals; fitness/healthy lifestyle, and media & entertainment (M &E). Fitness is straightforward and awesome. Yet, media and entertainment is a massive industry that's also getting my attention during this process.

If I were leaning towards selecting M & E as a vertical, I'd need to brand big, then niche down. Yet, how would that work exactly with a vertical this large and broad? The M & E industry includes V.R., book publishing, TV, and more. Aren't those verticals in itself?

It's a minor point of confusion for me, that perhaps someone will clarify for me. Looking forward to hearing feedback.

 

[Samwise89]

It all depends on how you define it. You've chosen to bundle Media and Entertainment together. I wouldn't. Yeah, Virtual Reality could be argued as its own vertical, or it could be a niche within the Gaming vertical.

Think more flexibly. I remember Day 1 specifically says:

We're not going to tell you exactly what to do, only how to think and what to think about.

It's a framework to put your thoughts into so you're able to work with the thoughts. It's not as strict as you're making it out to be.

The main point to me was to think and start big so you don't box yourself into a corner with no room for growth.

 

[Richard]

We're not going to tell you exactly what to do, only how to think and what to think about.

It's a framework to put your thoughts into so you're able to work with the thoughts. It's not as strict as you're making it out to be.

The main point to me was to think and start big so you don't box yourself into a corner with no room for growth

Solid advice on how I should be viewing this process, and I'll remember it from this point on. I am being too restrictive with my thinking.

Going to go hard as hell on this project now. Thanks bro.

 

[Samwise89]

I know you didn't ask, but:

"The M & E industry includes V.R., book publishing, TV, and more."

IMO, That's way too much work for one person to tackle and too scattered for fans. You'd need a lot of staff for that to be viable.

Entertainment like celebrity gossip and TV show happenings and movie reviews are pretty reliant on CPM ads, where you get paid per 1000 views. Which can be horrible but it's less horrible than trying to sell DVDs.

You could almost stand to jump forward to the Monetization day so you can start with that in mind too.

My point was that some verticals are related but mashing them together might be too much. Like Medical Health + Fitness + Dieting could then easily be Medical Health + Fitness + Sports + Dieting + Cooking + Psychology + Personal Development.

You can argue that those are all related and you're right. But it's too much and not necessary. You want to stay somewhat narrow for the advertiser's and the eventual buyer's sake if you intend on selling the site later.

 

[Richard]

know you didn't ask, but:

"The M & E industry includes V.R., book publishing, TV, and more."

It's cool, I'm always trying to learn man.

Entertainment like celebrity gossip and TV show happenings and movie reviews are pretty reliant on CPM ads, where you get paid per 1000 views. Which can be horrible but it's less horrible than trying to sell DVDs.

Can't think of a worse niche than that.

My point was that some verticals are related but mashing them together might be too much. Like Medical Health + Fitness + Dieting could then easily be Medical Health + Fitness + Sports + Dieting + Cooking + Psychology + Personal Development.

You're making a great point there, I was thinking about that while I was brainstorming. I'll opt for fitness vertical for now, and stay somewhat focused on it since it fits the criteria. Thanks again.