Boulder, Colorado – – Outside Interactive, formerly known as Pocket Outdoor Media until , has undergone a significant transformation, shifting its revenue model away from traditional advertising and towards digital subscriptions and services. The company, headquartered in Boulder, Colorado, reported its first profitable year in , generating $125 million in revenue, a 23% increase year-over-year.
The evolution, spearheaded by CEO Robin Thurston, began with a $150 million funding round in to acquire Outside Media. Since then, Outside Interactive has embarked on a series of acquisitions, expanding its portfolio to include a diverse range of outdoor-focused businesses. These include publications like Outside magazine, Climbing, Yoga Journal, and Peloton magazine, as well as mapping apps like Gaia GPS and Trailforks, and event photography services like FinisherPix. More recently, the company acquired Inntopia, a Vermont-based booking software developer, in .
This acquisition strategy reflects a broader trend of integrating retail and media companies, a strategy known as “retail media” or “commerce media,” according to industry observers. By combining content, events, and travel services, Outside Interactive aims to become a one-stop shop for outdoor enthusiasts.
The shift in revenue composition is striking. In , 70% of Outside’s revenue came from advertising. By , that figure had fallen to 40%, with 60% now derived from digital subscriptions and recurring services. The Outside+ subscription bundle, offering access to the company’s various publications, apps, and events, contributes 35% of total revenue. The company currently has over 1 million paying subscribers, though this number has remained relatively flat in recent years.
Beyond subscriptions, Outside Interactive has also cultivated a growing travel and events division, encompassing FinisherPix, athleteReg, and Inntopia. This segment now accounts for 25% of the company’s overall business. Inntopia alone facilitated over $1 billion in hospitality bookings last year for more than 250 customers.
The company is also investing in new ventures, such as Outside Days, a three-day event in Denver designed to be a premier gathering for outdoor enthusiasts. The event nearly doubled its revenue in its second year and saw a significant increase in attendance. Thurston anticipates attracting over 100,000 attendees in the future.
This transformation hasn’t been without its challenges. The company has shuttered or significantly reduced several of its editorial titles, and, according to reporting from The Colorado Sun, all employees at Outside magazine who were with the company prior to the acquisition have left. This reflects a broader industry trend where media companies are increasingly viewing editorial content as a means to attract customers to more profitable ventures.
The move away from reliance on advertising revenue mirrors a wider industry shift, as publishers grapple with competition from technology and social media platforms. According to industry analyst Ross Benes, the transition to recurring revenue streams offers greater stability than the volatile advertising market.
Outside Interactive’s strategy aligns with a growing recognition that media can serve as a “loss leader,” attracting consumers who can then be channeled into higher-margin businesses. As Cory Corrine, founder of The Intersect podcast, notes, “Media has value in that other kinds of businesses want to be associated with it, but it is no longer a growth vehicle. In media, the I in ROI stands for influence.”
Other media companies, such as Dow Jones, are also exploring similar strategies, leveraging their editorial content to drive subscriptions and sales of related products and services. This trend underscores the evolving role of media in a rapidly changing business landscape.
