Stakeholder media is how a media company can stay influential and build a real business—especially now, when scaled ad models are in a full race to the bottom. Everyone wants to move from passive audiences to active communities. Stakeholder media is a variant. It’s defining features:

• Elite audiences operating in interconnected, complex ecosystems
• Focused media, intentionally not for everyone
• Ability to convene stakeholders with the brand as glue
• Business model geared to long term relationships vs transactions

Rachel Openheim, CRO of Semafor, discussed with me how Semafor is centering its business on stakeholder media, and why that moves events to the center from the periphery.