In a world where media companies are competing against Google and Facebook for eyeballs and ad dollars in a fight that has seen some publishers going out of business, online travel magazine Culture Trip appears to be bucking the trend and reaching the elusive millennial audience.
Earlier this year, it raised $80 million from investors, reported by the Financial Times to be one of the largest-ever finance rounds for a European media start-up, taking overall investment to more than $100 million.
Culture Trip is a London-based website started in 2011 by former psychiatrist Kris Naudts, who claims almost 20 million people visit it each month — and that figure is growing. Compare that with Conde Nast Traveller (3.4 million) and Lonely Planet (around 17 million) and it already looks like a success story, although Culture Trip does not disclose how many of its users are registered.
The site aims to tap into millennials' desire for experiences over ticking off landmarks according to Chief Marketing Officer Mike Fox, a former Facebook marketer who joined the site in January.