Over the past 18 months, I've been surprised to learn how difficult it is to plan the development of a business.
It's hard not to giggle at myself when I think about the hours I spent tweaking our business plan before the site launched. Maybe we'd have $250,000 in ad revenue the first year, or was it closer to $255,000?
Though the site is still on track to fulfill its original mission, almost nothing else that I sketched out in the business plan has come to pass -- amount of revenue, number of employees, you name it.
Except for this: I imagined that we'd attract a hard-to-reach audience of young, urban, educated professionals. In other words, we'd have good demographics.
And holy Christ, do we ever. I just ran some numbers the other day for our new media kit and ratecard, and I was truly floored.
49 percent of our users are between the ages of 18 and 34. Nearly a third make more than $80,000 a year, and 86 percent have a college or graduate degree.
So there it is. One out of every 100 or so ideas you might have about starting a business is likely to be accurate. Advertisers: it's now up to you to make my predictions about a velvet-walled newsroom in FY2009 come true.


Discuss
PETER DUNNE, 06-12-2007
"49 percent of our users are between the ages of 18 and 34. Nearly a third make more than $80,000 a year, and 86 percent have a college or graduate degree."
Great. Just what we need. More media for young rich people. Let me guess; most of your readers live in Lincoln Park, Lakeview, Wrigleyville.WE NEED MEDIA FOR THE REST OF CHICAGO, where people aren't young and wealthy.
GEOFF DOUGHERTY, 06-28-2007
Peter,
While our numbers are weighted toward affluent readers, that's by no means an indication of our interest in serving less-affluent communities in Chicago.
Indeed, covering communities that are routinely ignored by mainstream media is a big part of why I founded the Daily News.
The Knight Foundation grant we recently received requires us to recruit and train a citizen journalist in every neighborhood in Chicago. So I expect our demographics will change as we move forward with that.
As far as age goes, most television and newspaper viewers are older. Our goal is to reach people who aren't currently reading papers or watching television -- i.e., younger people. Of course, if their parents come to believe we're doing a great job of covering Chicago, we won't turn them away.