N2 Publishing

N2 Publishing grew from $65M to $137M in revenue in four years

Sam cites N2 Publishing as a local-media business using a franchise-like model where reps gather content and N2 handles overhead and ad sales. Revenue went from $65M in 2014 to $137M in 2018, reportedly without raising money.

“So they said that in 2018, their revenue— in 2014, the revenue was $65 million. In 2018, it was $137 million. Their model is kind of interesting. It's kind of like a franchise model in that they bring on news reps who work on their own and are 100% responsible for gathering all the content. And then N2 takes care of the overhead and logistics and like filling the advertising.”