Hear from execs at The New York Times, Thomson Reuters, Trusted Media Brands and many others
Two execs are out at Betches Media after LBG Media acquisition
Two execs are no longer employed with Betches Media, less than a month after the company was acquired by LADbible owner LBG Media.
Former CRO David Spiegel was let go, and a former HR exec who has asked Digiday for anonymity has left the company, a Betches spokesperson confirmed. The spokesperson said that Spiegel was “terminated as a result of performance.”
The execs declined to comment. A Betches Media spokesperson declined to say on-the-record whether this was part of a broader restructuring.
Betches reported 2022 revenue of $14.6 million and $3.9 million adjusted EBITDA, according to information shared with LBG Media shareholders last month. The company said its 2022 revenue was up 44% year-over-year. Spiegel joined the company in July 2022.
UK-based company LBG Media agreed to buy the millennial-women focused, profitable company Betches Media on Oct. 18, with a cash offer of $24 million and the potential for an additional $30 million based on Betches hitting certain revenue and profitability targets by 2026.
At the time of the acquisition, the companies said the three Betches founders – Aleen Dreksler, Jordana Abraham and Samantha Sage – would remain at the company. The companies also said Betches would remain a standalone business, and work with LBG’s existing U.S. team to develop direct partnerships across both brands and their audiences.
Meanwhile, LADbible is restructuring its Australian business, with 52 people’s jobs at risk across its Sydney and Melbourne offices, according to reporting by News.com.au on Monday.
LBG Media Group’s half year results for 2023, released on Sept. 20, showed the company made £27.2 million in revenue (about $33.9 million), up 10% year over year. The company had an operating loss of £1.3 million (about $1.62 million).
More in Media
Creators hire AI like interns as they look to save costs on the creative process
While some creators churn out AI slop in the name of scale, others are using the tech more pragmatically — to perform back-end tasks they previously had to pay a human to do.
VTubers are catching marketers’ eyes in 2025
Instead of revealing their real-life faces to the camera, VTubers use motion-capture or hand-tracking technology to map their movements and facial expressions to an animated avatar. That way, they can keep their identities private while still building distinct, marketable personas that fans connect with.
Google AI Overviews linked to 25% drop in publisher referral traffic, new data shows
Organic search referral traffic from Google is declining broadly, with the majority of DCN member sites – spanning both news and entertainment – experiencing traffic losses from Google search between 1% and 25%.