Moguldom’s operations started with the launch of Bossip in 2006. We have since grown into a digital media and entertainment platform comprised of a portfolio of branded sites serving large, underserved audiences online. We seek to take advantage of the increase in demand for digital content and the ability for consumers to choose and purchase what they want to view, and when and how (including on what type of device) they want to view it. Moguldom operates through office locations in Fort Lauderdale, Atlanta, New York City, Los Angeles, Detroit and Johannesburg.
When Bossip was launched in 2006, it didn’t appear that a leading site addressing popular culture and entertainment news existed in a manner culturally relevant to African Americans, such that, despite the size of the audience, consumers looking online for an African American perspective were underserved. The idea to create Bossip came out of the realisation that major consumer brands were already advertising on mainstream independent popular culture news websites, namely TMZ, but that there was nothing tailored for African American and urban consumers. Bossip was launched to exploit this opportunity and to attract advertisers wanting to promote to this audience. With over 5.4 million unique visits in the month of December 2014, the Directors believe that Bossip’s formula has been proven successful, and now serves as a model to guide our development of our current portfolio of sites.
As Bossip grew its audience, we were able to enter into advertising agreements with major advertisers such as Colgate-Palmolive and Hennessy as early as 2010. Moguldom then began an expansion into African American women’s interests, by launching ‘MadameNoire’ and ‘MommyNoire’, in April 2010 and August 2012 respectively, and into style and fashion by launching ‘StyleBlazer’ in April 2011. With each of these new site launches, our objective was to establish market share by serving culturally relevant content to large, underserved targeted audiences. We would then seek to expand this market share through revenue generation and marketing techniques designed to promote our content.
We extended this strategy by launching ‘Lossip’ in August 2013, which addresses popular culture news, and ‘MamiMuse’ in October 2014, which addresses women’s interests, both from a US Hispanic perspective. Hispanics are the second fastest growing multicultural consumer sector in the US according to the US Bureau of the Census, with a projected total population of over 63 million by 2020.
2013 continued to be a very busy year for Moguldom, we launched sites focused on African interests by launching AFKInsider, focused on business, financial and economic news across Africa, and AFKTravel, focused on addressing travel to and within Africa. We believe that that the digital media content category for Africa interests is currently an underserved category where Moguldom could seek to become a market leader online.
In the same year we also expanded our video production capabilities from shorter, advertising supported segments and branded web video series, to production of longer-form docutainment programming, with the establishment of Moguldom Films (trading under the name Moguldom Studios). We have marketed this docutainment programming to our existing online audience and have made it available for purchase and rental on self-distribution platforms such as iTunes, Google Play and Amazon. We have produced 17 docutainment films to date, three of which have achieved top-ten ranking positions on either of Google Play’s or iTunes’ documentary genre homepage, including A Genius Leaves the Hood: The Unauthorized Story of Jay Z.
Our sites generated 302 million page views in the month of December of 2014.