Access Intelligence Buys Cynopsis Media
Acquisition takes digital to 20 percent of overall AI revenue.
Access Intelligence, publisher of CableFAX, announced today that it has acquired Cynopsis Media, which produces daily and weekly eletters for the television, digital media, kids marketing and sports media markets.
Founded by TV business veteran Cynthia Turner in 1997, Cynopsis Media publishes daily flagship Cynopsis, which covers the TV industry, Cynopsis Digital, Cynopsis Kids and Cynopsis Sports, boasting nearly 150,000 subscribers in 53 countries. Turner will join AI as publisher ofthe Cynopsis Group, reporting to Diane Schwartz, senior vice president of AI's Media and Communications Group.
"This is very much like the FierceMarkets model," says AI CEO Don Pazour. "It features aggregated content, no HTML and ads are text. The main product has 57,000 opt-in requests with high open rates. We were surprised at how well the aggregation and curation model performs from an advertising standpoint. It fits our market and it's nicely profitable. We've been in the cable market for a while, and in 2009/2010 when everybody else dropped, Cynopsis just kept growing." [FierceMarkets developed targeted eletters such as FierceWireless and Fierce BioTech to generate advertising and event sponsorships, as well as asignificant lead generation business. FierceMarkets sold to Questex Media in 2008, and was generating more than $5 million in revenue at the time.]
While he wouldn't reveal specific revenue figures for Cynopsis, Pazour says the acquisition helps push digital revenue to about 20 percent of AI's overall revenue.
"Right now we're 40 percent events, 20 percent subscriptions, 20 percent e-media and 20 percent magazines," says Pazour. "Broadly, I'd like to see e-media a bit bigger and see events and subscriptions continue to grow. I feel print magazines are really important in our larger markets as the marketing vehicle for everything else we have. We used to see magazines as the center point from which we develop ancillaries. Now we have online communities that we monetize--selling subscriptions, selling events--and magazines are part of that."
The acquisition is the third in the past six months for Access Intelligence, including OR Manager, which serves the hospital market, and FOLIO: Alert publisher Red 7 Media.
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