MEDIAWATCH: The doom loop for The Platform picks up speed

And it begins, The Platform doom loop that TDB argued would occur this year picks up speed…

Media Insider: Rich-lister Wayne Wright jnr exits The Platform, Sean Plunket takes 100% ownership

Sean Plunket takes full control of The Platform as rich-lister exits: “This has been a great ride.”

Rich-lister Wayne Wright jnr has exited as majority owner of The Platform online radio station, with host and co-founder Sean Plunket becoming 100% shareholder and sole director.

Wright told Media Insider that he had sold his 75% shareholding to Plunket for a confidential sum. It had been a “great ride”, but he had found media to be a “high-risk, low-yield space”, and it was time for the now self-sustainable media business to find new and additional investment.

In a statement, Plunket described the exit of Wright as “planned” and said financial details of the transaction were “commercially sensitive“.

…the mother who recently died was the big supporter from the Wright Family alongside the Son.

The Father wasn’t as big a supporter.

I understand the continued support had generated tensions inside the Wright Compound.

The Son wanted to prove himself to his Father, the Father wanted to test his son.

That test has ended and the Son has sold up and the Father wins.

Rumours are the Son wanted to go even further alt-Right than Sean (think anti-vaccines).

It’s all on Sean now as The Platform has failed to fire due to its narrow right wing perspective and content that scares the bejesus out of advertisers.

The problem with The Platform is that the revenue stream is built mostly on video views and social media traction, Sean’s recent tweet mocking Palestinians during a genocide highlights the issues moving forward.

Sean needs to become increasingly radioactive for attention but that shuns mainstream advertisers who run a mile from this level of toxicity.

I think the huge number of Subscribers is due to The Platform leaning into global culture war trends rather than domestic support so it’s harder to translate foreign traffic into loyal paying domestic subscribers.

My guess would be it dies before the end of the year if Sean can’t cut a deal with Jim Grenon over at NZME.

 

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