President, Greenspun Media Group
Michael Carr joined Greenspun Media Group (GMG) in 2003 as vice president of business development and was quickly promoted to president a few months later. Since then, revenues for the Las Vegas-based city and regional media company have grown 600 percent, with help from the launch of three new magazines (including Vegas, the companyâ€™s first luxury title), eight suburban newspapers, and the acquisition of three companiesâ€”Niche Media, a New York-based luxury magazine company with titles including Aspen Peak, Boston Common, and Los Angeles Confidential; Ocean Drive Media Group, including Ocean Drive and Bal Harbour; and Philadelphia Style, a lifestyle and fashion magazine from DLG Media Holdings. Employment at GMG has grown 300 percent, from 85 to 600 people.
Greenspunâ€™s four luxury publicationsâ€”City Center, Vegas, Venetian Style and Wynnâ€”along with the luxury titles of Niche and Ocean Drive Media form a combined distribution of 750,000 controlled circulation, a model that was dismissed by critics a few years ago but which is now proving itself a force to be reckoned with.
â€śAt the end of the day, in the areas we publish, the most important thing to our advertisers is that the magazine is in the hands of our exact target,â€ť he says. â€śSome paid magazines arenâ€™t worth the paper theyâ€™re printed on. Itâ€™s something done to build up falsehood, trying to build a rate base and gain advertisers they donâ€™t deserve.â€ť
Carr isnâ€™t fazed by his critics: â€śI have been subject to ridicule most of my career,â€ť he says. â€śExecutional excellence quiets all those people.â€ť
Next month, Greenspun is launching what Carr calls a â€ścategory-crushingâ€ť Web portal of Vegas restaurants, entertainment, sporting events and other local information. The company plans to roll out similar portals in 15 other markets this year.
VITAL STATS: Under Carrâ€™s leadership, Greenspun Media Groupâ€™s revenues have increased 600 percent since 2003. The company has grown from 85 to 600 employees and publishes more than 30 titles, including those under the companyâ€™s Niche Media umbrella.