- The Next Million with Scott Oldford
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- Sponsorships.com
Last week, we acquired Sponsorships.com
It was by far the most expensive domain name we ever purchased, and I believe it will be one of the most important domains we’ll ever purchase.
Today we acquired sponsorships.com.
The first newsletter I bought I paid $32,000 for it.
That was less than a year ago.— Scott Oldford (@scottoldford)
2:16 AM • Apr 28, 2023
I don’t believe most people realize how important owning your own media and, at worst, sponsoring other media will become in the future.
I’m betting a massive amount of our resources to this inside of The Wisdom Group— the reason? I truly believe the future will be owned, by those who the own attention.
Further, I believe the attention game will change massively over the next 3–5 years… why?
A.I is going to take traffic away from websites.
Social Media consumption will start to peak and come down, instead having people spend more time on self-curated content.
Paid advertising and paid advertising networks will go up in cost due to lower costs.
People will spend more time being part of curated communities, instead of stranger-oriented online media.
I’m betting heavily that this will occur in four specific areas:
The first is by creating Wisdom Media, which is a collection of owned media such as newsletters, podcasts, and high-end authoritative websites.
The second is by creating a rollup of services, software, community, and education for those creators and entrepreneurs who are building media companies as part of their business, allowing them to both protect their business and build it.
The third is by creating a rollup of services, software, community, and education for businesses that want to rent highly segmented and niche attention that outperforms all other media and advertising.
The fourth is a network of the top authorities who are heavily influential due to their true wisdom and expertise, which we know are some of the best in the world at what they do.
We believe the opportunity to allow the world to access wisdom in a self-controlled and decentralized way, will be the way of the future.
I’ve been working on this vision for a while, and it has turned into a series of acquisitions, hires, and systems to be built to allow for scale.
Sponsorships.com is simply the public facing version of the third part of The Wisdom Media strategy, with many other parts that we’re excited to continue build and bring to the world in the coming years, However, the story gets even more interesting from here.
See, the problem with most media companies is they don’t know how to actually market or sell or solve problems. They know how to create content and obtain traffic.
What happens when you add those two things together? Wisdom Media started with a simple problem: to mitigate against the risk of rising traffic costs.
I had the vision for Wisdom Media as far back as 2017, when my Facebook ad account got banned for 48 hours— I wanted a way that no one could ever turn off my ability to obtain new customers and build my business and help others.
It’s taken a while— but that’s what we’re building today. A media network and an entire ecosystem that shows others how to do the same— while at the same time building audiences of millions of people for our Education and Software businesses.
In essence— we’re building an ecosystem that creates an unfair advantage that most education and SaaS companies don’t have— free traffic.
Further, we’re building a media company that has an unfair advantage that most media companies also don’t have— products and services that are aligned with the skills to sell it directly.
Add these things together, and if this works— I believe it will solve major issues in both business models, while building a network effect that will create a massive moat around The Wisdom Group portfolio.
Which leads me to a question for you, today…
For you, in your business. How are you building a moat? How are you ensuring that the risks of the future in 3, 5, 10 years are eliminated?
These are the things where you need to take weeks, if not months off of what you’re doing— get a new perspective and dive into what the future looks like.
For me, it all started on Richard Branson’s private island years ago… and now here I am building the vision into reality.
So… that’s the story behind Sponsorships.com and why we purchased it, along with the vision of this rollup of media-centric businesses.
For now, that’s all.
- Scott Oldford
(P.S. New here? You can get more on me here)
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