The Revenue Room™, by H2K Labs

Why Traffic-Reliant Media is "Done For" (And Why Media + Events + Data Wins)

Mar 5, 2026
Jacob Donnelly, founder of A Media Operator and former Morning Brew/CoinDesk leader, builds media, events, and subscription plays. He explains why algorithm-driven traffic is collapsing. He outlines the durable three-legged model of media, events, and data. He warns about AI commoditizing average content and explains why reader revenue must come first.
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INSIGHT

PE Dynamics Shape M&A Timing

  • PE-owned event/media rollups are driving M&A but geopolitical and asset complexity can stall deals.
  • Jacob uses Clarion's Chinese assets and QuestX's repeated sale attempts as examples of market friction.
INSIGHT

Events Need Year-Round Audience Touchpoints

  • Pure-play events that only convene audiences sporadically leave value on the table.
  • Jacob argues it's inefficient to meet people only a few days per year instead of engaging them regularly via media and data.
ANECDOTE

Morning Brew Grew Without Google Traffic

  • Morning Brew grew to scale without Google by paying to acquire email subscribers and focusing on the inbox.
  • Jacob recalls 40%+ open rates and how Apple MPP later exposed the fragility of inbox-based metrics.
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