How To Start a Media Company In 2024 and Win (With No Money)

Table of Contents

• How To Start A Media Company: 7 Proven Insider Steps

  • Step 1: Know What Your Niche Wants To Know

  • Step 2: Master The Attention Economy Flywheel

  • Step 3: Build A Massive Traffic Engine From Social Media (With Zero Followers)

  • Step 4: Use Beyond-Basic SEO To Get Free Traffic From Unlikely Places

  • Step 5: "You Plus Me Equals Big Me" - Piggyback on Established Audiences

  • Step 6: Hit That Monetization Button, Baby

  • Step 7: Promote Your Own Products & Services (Optional)

• Conclusion

You might think of media companies differently but the truth is they sell attention and getting the traffic is the actual product for them. 

With a global market worth $156.37 billion, the creator economy is booming. And it is no surprise you want a slice of that pie. 

But the question is, how do you start a media company?

This is something aspiring media entrepreneurs like you ask us every day. In this guide, we will give you a 7-step process that will clear up all your uncertainties and get you headed in the right direction. 

How To Start A Media Company: 7 Proven Insider Steps 

Sure, opening a limited liability company and a business bank account are important. But we will go way beyond the basics. As you go through each of the 7 steps, take note of the actionable points and tweak your business plan accordingly. 

Step 1: Know What Your Niche Wants To Know

You can’t be everything to everyone. So before starting the content creation process, the first step to winning people over is to identify a specific niche and figure out what they want for information and entertainment. 

Remember, you have to understand your target audience on a deeper level than anyone else. Ask yourself these questions:

• What are their interests? 

• What questions keep them up at night? 

• What kind of content would make them stop scrolling and actually pay attention?

Here’s how you can find answers to these questions:

• Forget your "ideal reader" or "target viewer" generic ideas. Today's audiences are diverse and have specific interests. So dig deep – know their ages, locations, and professions. More importantly, what are their passions, challenges, and questions?

• Spend time on the platforms your target audience frequents. See what kind of content they like and comment on. What are the trending topics and discussions? This is free market research at its finest.

• Don't be afraid to strike up conversations online or even in real life. Ask them about their favorite media business, what they find lacking, and what kind of content would make their day.

• Check out existing media companies targeting a similar audience. See what kind of content they produce and find the gaps it leaves. Maybe there is a lack of in-depth analysis or perhaps the existing content is too dry and impersonal. Do a detailed competitor analysis to identify these gaps and brainstorm ways to fill them.

• Pay close attention not just to the "what" but also the "how." Figure out how they talk about their interests and the tone they like to use. Is it light and humorous, or serious and analytical? Understand their communication style to create content that feels like it belongs and can increase your marketing ROI by 10-30%.

Step 2: Master The Attention Economy Flywheel

In today's media industry, attention is the new oil. The wealthiest people in the past were those who controlled oil. Today, the wealthiest people are those who control attention. 

With people spending an average of 147 minutes daily on social media, they have a lot to choose from. This makes it hard to capture their attention and companies are willing to pay a lot of money for it.

To build wealth in the new economy, create content that captures attention. But that isn’t enough. You should also hold and multiply your audience. For this, you need to create something that builds momentum on its own and keeps people coming back and sharing it with others.

The content you produce is the input. As people engage with your content, they become part of your audience – that is the output. And the audience always compounds. 

Not clear? Let's simplify: As you capture attention, your audience will start to grow. The bigger your audience gets, the easier it becomes to capture even more attention.

Here are strategies you can follow:

• Brainstorm content ideas that match your audience. Here are specific strategies:

• Solve a problem: Teach them a new skill, offer solutions to their everyday struggles.

• Entertain them: Make them laugh, create suspense and tell stories.

• Inspire them: Share success stories and show inspiring journeys.

• Regularly (daily, weekly, or bi-weekly) upload fresh content. Develop a schedule and stick to it. Consistency builds anticipation and keeps viewers coming back.

• Make your content easy to share. Add social sharing buttons and clear calls to action.

• Quality beats quantity every time. It is not just about churning out endless videos or articles. Focus on building your brand as you build your audience. A strong brand identity is instantly recognizable and trustworthy and reduces marketing efforts by 50%. Here’s how you can build your brand:

• Use the same logo, colors, and voice everywhere.

• Interact with your audience on social media.

• Share valuable, relevant content regularly.

• Listen to your audience and adapt based on their feedback.

Step 3: Build A Massive Traffic Engine From Social Media (With Zero Followers)

This is perhaps the most important step. Follower counts are great and all but when you are just starting your media journey, they shouldn't be your only focus. Some platforms are made to give everyone a chance to go viral, regardless of how many people follow them. 

Take Jeremy Kuo's X account, for example. One of his posts got a massive 23.5 million views, even though he has less than 10,000 subscribers.

These platforms level the playing field, and that is exactly what you want when you are building your audience from scratch. New accounts with great content can explode, even with zero followers.

Partner with creators who already have a relevant audience. Ask them to create fresh content specifically for you on a new account. This is cheaper and more effective than sponsoring posts on their main account.

Here's the trick:

• Find a captivating face for your account. Consider hiring an intern with film or animation majors to create these short videos. Platforms like Prosple can be a great resource for finding talented recent grads who can start contributing from the word go. 

• Create a series of short videos with high viral potential.

Once you have a creator, maximize reach by:

• Reposting videos on all social media accounts (Reels, TikTok, YT Shorts).

• Posting frequently (ideally 1+ videos per day).

• Mimicking their existing content style initially, then gradually introducing your product.

The key is finding a repeatable "series." A video you can slightly tweak and repost multiple times that audiences love. 

Even animated explainer videos can work wonders for building a social media following, even with zero followers. These short, visually engaging videos can easily grab attention and explain complex topics in a fun and digestible way. 

This isn't to say every video needs to be a full-blown animation extravaganza. 

A great example of this is actually a simple local business commercial - Prime Time Window Cleaning. It perfectly captures the essence of a great explainer video. It uses a relatable character (Julie) and a clear narrative (dirty windows needing cleaning) to show the value of their service.

Imagine this concept translated into a short, animated video for TikTok or Instagram Reels. A cute cartoon house getting progressively grungier with dirty windows, then magically sparkling clean after the cleaning company arrives. Short, sweet, and straight to the point.

This type of explainer video can be just as effective, if not more, than live-action content. It allows for creativity and humor, keeping the audience engaged while getting your message across. So don't underestimate the power of animation.

Once you have figured it out, build a network of accounts. You can find less established creators to promote the series without needing big names.

Here's the virality roadmap:

• Experiment with different video ideas on TikTok, Instagram, and YT Shorts.

• Strike gold with a viral video.

• Refine that video into a repeatable series.

• Replicate the series on multiple accounts.

• Consider translating the series for wider reach (Spanish, Chinese, etc.).

• For mega-viral videos, pay other big accounts for reposts.

• Accept that trends fade and eventually start over at step 1.

Step 4: Use Beyond-Basic SEO To Get Free Traffic From Unlikely Places

Organic searches drive 53% of all website traffic, so SEO has to be in your plan. And sure, you know search engine optimization basics – keyword research, website optimization – but it  takes time to see results. We are going after something faster, something that can get you noticed right away. Here’s the plan:

Become A Resource Machine

People love free, helpful tools. Think about what information your target audience constantly needs and create free tools that solve their problems. This could be a budget calculator for marketing campaigns or an infographic generator.  

When people use your tool, they will naturally link back to your site. Plus, the tool itself can attract visitors who are interested in what you offer.

Take a look at Small SEO Tools. If you analyze their traffic, you will see their free SEO tools generate the most visits. Their online video downloader, for instance, is their most visited page. 

Everyone loves having their favorite videos at their fingertips but it is frustrating to lose track of them in the endless content. This page solves that problem by making it easy to save and find your top videos whenever you need them. People find it so helpful that it gets around 678,609 monthly visits and $77,800 estimated value.

Create Stat-Centric Content

People always look for reliable data to support their content. Research hot topics in your media niche and compile unique data or conduct your own survey. Package them into easy-to-understand and visually appealing blog posts or articles. 

These data-rich pieces become magnets for backlinks from other websites referencing your research. The more backlinks you have, the higher you climb in search engine rankings.

Exploding Topics uses a mix of AI and human analysis to identify rising trends across the web. This lets them create content around these topics before they become mainstream, grabbing early traffic.

This approach creates a snowball effect. Valuable data attracts readers which in turn attracts backlinks from other websites. Because of this, most of its statistical pages end up ranking first on SERPs.

Give the People What They Want (and Can Download)

Ebooks, whitepapers, cheat sheets – these downloadable resources are gold for attracting new visitors. Create valuable content that your target audience can't resist downloading. 

In exchange for their email address, offer them a downloadable resource packed with actionable tips and insights. This grows your email list and gets more people visiting your site when they download your resources.

Scribd, a platform for ebooks and audiobooks, understands the power of downloadable content. They know their audience wants in-depth content they can consume at their pace. So they let them download high-quality resources packed with valuable information. This way, they get over 26 million monthly visitors.

To download content, users often need to create a free account or provide their email address. This makes them more likely to return to Scribd's website to explore similar content in the future.

Here’s a clarifying thought: You might think these examples aren’t traditional media businesses or media services providers. That is true- but the power of downloadable content extends far beyond media companies. This tactic can be applied across different industries!

Our favorite example of this is AlisQI. Their core business is selling software but they have built a massive library of free white papers on quality management. They also offer free downloadable tools like ROI calculators and vendor selection guides.

This might seem counterintuitive - why give away valuable information for free when they could be directly selling their software?  The answer is simple: AlisQI understands that customers trust and do business with a company that demonstrates expertise and offers helpful resources.

The key takeaway here is that downloadable content can be a powerful tool for any business, not just media companies.

Step 5: "You Plus Me Equals Big Me" - Piggyback on Established Audiences

So you built your audience, but wouldn't it be awesome to tap into even more viewers? Collaboration is a win-win situation: you get exposure to new audiences, and so do they. Here’s how to do it right:

Guest Appearances

• Don't just jump on any show that will have you. Make a list of podcasts, YouTube channels, or online shows that cater to your niche. Look for shows with good audience engagement, like comments and discussions.

• In a short email, introduce yourself and your area of expertise. Briefly mention something you heard on their show that resonated with you (personal touch!). Highlight a specific topic you can discuss as a guest. 

• Don't get discouraged if you don't hear back right away. Follow up politely after a week. But remember, be professional, not pestering.

• Once you land the guest spot, do your research. Know the host's style and the show's format. Prepare talking points but speak naturally. Offer valuable insights and keep your answers engaging. 

• Let your followers know you are going to be a guest. Share the show's details on your social media platforms.

• Once the episode airs, get the recording and repurpose it. Create bite-sized snippets for social media or a blog post summarizing your key points.

Cross-Promotion

• Look for YouTubers, podcasters, or even bloggers in your niche who have a following that overlaps with yours. Don't be afraid to reach out to even slightly bigger creators – sometimes the best partnerships surprise you.

• There are tons of ways to cross-promote. You can mention your partner's channel at the end of your videos or include them in a social media shoutout. You can even offer a discount code to their audience for your content or host a giveaway or contest together. Make sure whatever you decide benefits both of you.

• Cross-promotion should feel natural, not forced. Integrate your partner's content smoothly into yours. Highlight what you like about their work and why you think your audiences would enjoy it.

• Keep an eye on how your cross-promotion efforts are performing. See which tactics generate the most traffic and engagement. 

• Use beehiiv’s recommendation feature to cross-promote other relevant newsletters to your subscribers. Discover publications that your audience will love and add them to your recommendations. When you do, other newsletters will be notified and can reciprocate with just a single click.

Content Collaborations

• Find someone who complements your skills and style. Maybe you are a great writer but struggle with video editing. Find someone who fills that gap. Sometimes unexpected collaborations create the most buzz.

• Think outside the box and brainstorm unique concepts that use both your strengths. Is there a topic you can tackle from different angles? Could you create a series together, each episode hosted by a different creator?

• Once you have the concept finalized, map out the details. Clearly define each person's responsibilities – scripting, filming, editing – so the project runs smoothly.

• Announce the collaboration on both of your platforms to generate excitement beforehand. Double the promotion, double the fun. 

• When the project drops, give credit where it is due. Mention your partner prominently and encourage your viewers to check out their work.

Social Media Takeovers

• Reach out to creators in your niche and see if they are open to a "takeover" where you handle their account for a day or even a few hours.

• People won't care about you unless you bring something to the table. Think about what you can offer the partner's audience. This could be an insightful interview, a helpful tutorial, or exclusive content about their interests.

• Create high-quality content specifically tailored to the existing audience. Use a mix of formats – videos, polls, or live Q&A sessions to keep the audience engaged.

• Don't forget to tell the audience what you want them to do next: following your page, subscribing to your channel, or visiting your website- make it clear and easy for them to connect with you after the takeover.

Here's an insider secret: You built a loyal fan base but as your audience grows, managing it properly becomes a challenge. The best way to handle this is to use CRM (Customer Relationship Management) software. 

CRM software helps you centralize and organize audience information – store contact details, track engagement, and segment your audience all from one place. This allows for:

• Personalized communication

• Improved customer service

• Deeper audience insights

There are many CRM platforms but HubSpot is a great option (and it has a free tier to get you started). It even has marketing automation tools, making it an all-in-one solution for media companies. 

That said, HubSpot can also be overwhelming. Setting up workflows, automation triggers, and custom properties can get complex if you haven’t worked with CRM software earlier. So it is best to get help from a Hubspot agency that specializes in this software. It can help you: 

• Move your audience info to HubSpot smoothly

• Set up automated systems for emails and social media

• Craft targeted content campaigns based on what your fans love

• Get your team comfortable using HubSpot

Step 6: Hit That Monetization Button, Baby

So you have built a loyal audience who loves your content. High fives all around. But a new media company still needs to bring in cash to keep the lights on and meet personal and business expenses.

There are several ways to turn your audience's love for your content into financial love for your company, the best approach depends on your niche and audience. Here's a breakdown of the popular options for media channels:

Advertisements

Partner with brands or companies to display their ads on your platform. Find sponsors that align with your content and resonate with your viewers. Remember, nobody wants to feel bombarded with irrelevant promotions, so choose partners your audience will genuinely connect with.

Let’s take a look at the different types of ads you can run and see how much cash they can bring in:

• Display Ads: Banner or sidebar ads that appear on your site. $1-$5/CPM (cost per thousand impressions).

• Video Ads: Ads that play before, during, or after your video content. $10-$20/CPM, especially for pre-roll and mid-roll ads.

• Native Ads: Ads that blend in with your content. $5-$20/CPM.

• Pop-up/Pop-under Ads: Ads that appear in a new window. $3-$10/CPM.

• Interstitial Ads: Full-screen ads that appear at natural transition points in your content. $5-$15/CPM. 

• Email Newsletter Ads: Ads included in your email newsletters sent to subscribers. $0.10 to $0.30 per email. You could also set a flat fee for each campaign, like Justin Welsh who charges $3,500 to sponsor the newsletter sent to 215,000 subscribers. 

Now the key here is finding high-quality advertisers who perfectly complement your content. beehiiv can help you with this by connecting your newsletter with reputable brands from various industries. Our intelligent matching system ensures that the advertisers align well with your readers' interests. 

This way, your subscribers only see relevant ads, increasing engagement and click-through rates. 

The best part is you don’t have to find and negotiate with individual advertisers. beehiiv handles the entire process and we will present you with pre-vetted ad opportunities that fit your newsletter's theme.

Here are advertisement networks you can use:

• Google AdSense: A widely used network offering different ad formats, known for its vast reach and user-friendly interface.

• Media.net: A contextual ad network powered by Yahoo and Bing, great for high-quality and relevant ads.

• PropellerAds: Offers a range of ad formats, including pop-unders, native ads, and push notifications.

• Raptive: A premium ad network known for high CPMs and working closely with publishers to optimize ad revenue.

Affiliate Marketing

Here, you promote other companies' products or services within your content. When someone clicks your unique affiliate link and purchases, you earn a commission. Remember, only recommend products you truly believe in because your audience trusts your judgment. 

So the million-dollar question – how much can you make? Commission rates depend on the product or service. For instance, the fitness supplements industry has higher rates. Check out Transparent Labs, for example; they offer up to 30%. This is because they have high profit margins and are willing to share a larger portion of the sale with affiliates.

Another structure offers a set amount of money for a specific action, no matter the purchase price. For example, in the travel niche, companies like Going give you a fixed $3 commission for every new member you sign up, even if they don't book a trip right away. 

Here is a handy list of affiliate commission rates in different industries when you apply to join an affiliate program:

Let Your Audience Support You Directly

You can offer options for your audience to support your work financially. This could be a simple "donate" button on your website or a Patreon account. You can also offer membership levels with perks like exclusive content or early access in exchange for recurring donations. 

These platforms are great for getting your audience to support you:

• Patreon: Known for its membership platform where creators can earn recurring revenue from their supporters.

• GoFundMe: Popular for crowdfunding campaigns, ideal for specific projects or urgent needs.

• Ko-fi: Allows creators to receive one-time donations or set up a recurring "coffee" (donation) page for ongoing support.

• Donorbox: Provides customizable donation forms that can be embedded on your website, supporting both one-time and recurring donations.

• Buy Me a Coffee: Similar to Ko-fi, it lets fans support creators with one-time or recurring donations.

Sponsorships

Partner with brands or companies who are willing to pay you to promote their products or services. It is a direct way to generate revenue while maintaining your content's integrity.

There are different types of sponsorships you can explore for your online media company:

• Content Sponsorships: Brands pay you to create content that features or highlights their products or services.

• Event Sponsorships: If you host events or webinars, companies can sponsor these events in exchange for brand visibility and promotion during the event.

• Product Placement: Integrating a sponsor’s product naturally into your content, like using it in a video or mentioning it in an article, can be another form of sponsorship.

• Sponsored Giveaways: Brands provide products or services for giveaways.

• Podcast Sponsorships: If you produce podcasts, sponsors pay for ad slots or have their products mentioned during episodes.

Step 7: Promote Your Own Products & Services (Optional)

Sure, advertisers and sponsors can boost your earnings but you become dependent on them. You have to keep them happy and this can sometimes disrupt your content flow, especially if the ads aren't interesting to your viewers.

Even worse, advertisers can pressure you to create content that pushes their products instead of what your audience truly wants. This can damage the trust you built with your viewers and make them feel like you are selling out.

Plus, ad revenue isn't always stable. If the economy dips or advertiser budgets shrink, your income can take a hit. But when you sell your own products or services, you have more control over your finances. You get to decide what you offer and how you present it. 

Here's the exciting part – there are many possibilities.

Sell Digital Products

• Package your knowledge. Ebooks are great for in-depth guides or tutorials or webinars or online courses for an interactive learning experience.

• But also be realistic about your audience's budget. You can always offer introductory discounts or bundle products together to create more value.

• Platforms like Whop can help you monetize your digital products. You can create a central hub, or "Whop," where you can sell your online courses, ebooks, video lectures, and presets. 

• Don't expect people to magically find your digital products. Announce them on your media channels and offer early-bird discounts to your email subscribers. 

Sell Physical Products

Physical products create another income stream on top of advertising or digital products. Offer merchandise that lets your fans proudly represent your brand. Every time someone uses your product in public, it is free advertising for your media company. 

So what should you sell? Brainstorm products that resonate with your audience. Here are some ideas:

• T-shirts, hoodies, hats – all can feature your logo, slogans, or iconic imagery.

• Mugs, phone cases, notebooks – practical items with your branding become conversation starters.

• If your content has a strong visual identity, consider limited edition posters, pins, or figurines.

• Create a board game based on your content theme.

• Offer exclusive prints or artwork for fans to decorate their homes.

• Package curated "care packages" related to your content.

Here are a few things to remember when selling physical products:

• Sell products that are well-made and comfortable to wear or use. A bad product reflects poorly on your brand.

• Attractive designs will entice people to buy. Collaborate with a freelance designer for a professional look.

• Research companies that handle printing, packaging, and shipping – so you don't have to store boxes in your living room.

There's a powerful trend called content to commerce where you use valuable content to drive sales. Every company, no matter the size, can benefit from this approach. Let’s take the example of Epic Gardening. Its founder Kevin Espiritu started as a self-taught gardener. 

They built a YouTube channel that now has over 3 million subscribers and has become the world's most-followed gardening brand. It sells everything from raised garden beds to seeds – all because it established itself as a trusted gardening authority. 

It is a perfect example of getting started as a media company and then monetizing through its own physical products. And the best part about it is that it doesn't need to happen at such a high level. 

Our favorite example in this context is the Greenhouse Emporium. Working on a similar model, they use SEO and have a vast learning center on their website. 

Their Pinterest account gets around 100,000 impressions. The beauty? They don't need tons of traffic because their products are higher priced. Even with a smaller, engaged audience, they can generate good revenue. 

So the key takeaway here is you don't need a Hollywood budget to be a media company. Start small, focus on helpful information, and then introduce physical products to make money.

Sell Services

Think about the content you create for your own media company. Can you adapt those skills to create something valuable for a paying client? There is a good chance the answer is yes. 

So don't be shy – start promoting your services and turn your media passion into a profitable business.

Here are some ideas to get you started:

• Content Creation: This is a big one. Businesses are always hungry for high-quality content. You can use your skills in writing, video editing, graphic design, or social media management to create content specifically for their needs.

• Content Strategy Development: Help businesses plan and execute their content strategy. This includes analyzing their target audience, identifying the best content formats, creating a content calendar, and measuring results.

• Social Media Management: Many businesses struggle to keep their social media channels active and engaging. Offer to manage their social media accounts where you can create and schedule posts, respond to comments, and run targeted social media campaigns.

• Consulting: Businesses need help with anything from starting a blog to growing their YouTube channel. Offer consulting services where you brainstorm ideas, troubleshoot problems, and provide strategic advice.

• Training & Workshops: If you have a specific area of expertise, like video editing or social media marketing, you can offer workshops or training sessions to teach others your skills.

This is not an exhaustive list, of course. There are many other services you can offer depending on your unique skills and experience. The key is to identify what you are good at and what businesses need. Once you get that nailed down, you can double down and systematically automate key components of your project.

Conclusion

The question of how to start a media company isn't about money; it is about your vision and your dedication to your audience. Be prepared to experiment, to refine your approach as you go. 

The journey might be tough but the rewards can be huge. So embrace the journey, the constant learning, the thrill of connecting with your audience.

The good news is, you don't have to go it completely alone. beehiiv is an all-in-one platform designed specifically for bootstrapped media entrepreneurs. 

Our solution streamlines content creation, email marketing, and even monetization options – all without the upfront cost of building your own infrastructure.

Head over to beehiiv to check out our free plan or start your 30-day free trial.

Why Trust Me? Christian Cabaluna is an SEO content writer with 5+ years of first-hand experience. When he isn't writing in his favorite coffee shop, Christian enjoys reading (especially about psychology and neuroscience), cooking, watching documentaries, camping in the mountains, and catching beautiful sunsets.