The team over at 24/7 Wall Street have come up with a list of the 25 most valuable blogs (although they don’t tack a number on all of them), and topping the list is Gawker Media, meaning the complete blog network.
How does the valuation break down? Here’s the blurb:
If the [Gawker] sites generate one-and a-half page views per unique visitor and the total CPM value of the multiple advertisers on each page is $20, Gawker is an $11 million business which is still growing quickly. The company does not appear to be staff-heavy, so it is imaginable that the margins on the business are 50%. Would the business be worth 15x revenue or 30x operating profits? Could be.
As far as the math goes, I’ve seen worse attempts at breaking it down. The list tails off at just under a million dollars for Talking Points Memo.
I’m sure they missed several big blogs, and I’m sure they’ve got many of them pegged pretty far from what price they’d actually fetch, but it does underline the fact that blogs are still working as media properties, even if they’re out of the spotlight at the moment. They’re drawing revenue, and if they were for sale, they’d probably be fetching good prices.
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