COVID Events-to-Media Pivot

A story about how Blockworks was forced to pivot their business model during COVID when their events revenue disappeared overnight.

"COVID hit and 80% of our revenue got wiped out overnight because 80% of our revenue came from events. That's when we pivoted into media. We said 'let's go do the media thing.'

Before that, we had built our business backwards. We started with events, then linked up with Pomp and got into the podcasting game. Our first podcast was Pomp's - what used to be called Off The Chain, now it's called The Pomp Podcast. I would go into Pomp's office 7 days a week, Saturdays and Sundays too. I would put the mic in front of his face, learned how to use GarageBand, edited the podcast, produced it, designed things on 99designs, sold the sponsorships - we were doing all of it.

We built that business out and hosted shows for other people. Realized that business was great for revenue but sucked for IP because we didn't actually own the content. Then when COVID hit, that forced us to pivot into building out the actual media operation."