The management team at Irvine, California-based Entrepreneur magazine is gearing up for a product launch that puts the team outside its usual business-minded comfort zone. This spring, the magazine is planning to launch SecondAct.com, a Web site targeted to an older audience that’s looking to begin a “second act” in life.
According to president and corporate publisher Ryan Shea, the site will feature content on topics including travel, starting a business, finance management, purchasing a vacation home and trying new foods and wine. Shea said SecondAct will target “boomers,” but is “really for anyone who is looking to make a major change in their lives.” Content will be created by a stable of celebrity bloggers and experts of various fields, and will include user-generated content.
“For several years we have been looking at different markets that are complimentary to what we do best,” he said. “After much research it became more apparent that this market is underserved—but more importantly, from an audience perspective, it is growing exponentially.”
SecondAct will knock up against some major competition when it launches (expected sometime late March or early April). One site is Caring.com, which provides expert advice on senior and elder care, including content on assisted living and estate planning. And, of course, there’s AARP.org, the Web site for the behemoth, non-profit organization for people aged 50 and older. In December, AARP.org averaged more than 2.5 million unique visitors, according to Compete.com. Entrepreneur.com (as a reference) averaged 1.09 million.
Unlike AARP’s site, SecondAct will “stay clear” of selling memberships, insurance and “taking a political stance,” said Shea.
Going ‘Out on a Limb’ to Monetize the Idea
In lieu of selling memberships, Shea said he is “going out on limb” by banking on online advertising as the site’s sole revenue generator. “We’ve built a very successful model with Entrepreneur.com and we will be using that same model with SecondAct,” he said. According to Shea, Entrepreneur.com’s revenues fell 5 percent last year but had previously been growing roughly 20 percent year-over-year. So far this month, revenues are up 15 percent over January last year.
“We believe there is ample opportunity to define our niche to entice advertisers,” said Shea.
SecondAct will operate as its own division within Entrepreneur Media. Shea said the company has and is hiring backend staff to build the site. In addition to freelancers, Shea said he expects to have at least 10 full-time staffers dedicated to SecondAct before the end of the year.