Hyper-Local media is the subject of StreetFight’s East Coast summit being held this week in Manhattan. As usual there is news being generated.
Patch, which had noted that just 11 percent of its local sites are considered profitable, has consolidated 25 sites. Patch President and co-founder Warren Webster told Forbes’ Jeff Bercovici he is confident the remaining 800 or so sites will be profitable by the end of 2011 2012 2013 (2014?).
DNAInfo launched in media-saturated New York. It doesn’t buy the idea that a crowded media market will crush online sustainability. Money, lots of it, and good journalism is a key to DNAI’s growth according to Publisher Leela de Kretser. Several DNAI stories in New York have gone national.