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Coconuts Media

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Coconuts Tabloid Media
Company typePrivate
IndustryMedia
FoundedSeptember 15, 2011; 13 years ago (2011-09-15) in Bangkok, Thailand
FoundersByron Perry
DefunctDecember 19, 2023 (2023-12-19)
HeadquartersHong Kong
Number of locations
Bali, Bangkok, Hong Kong, Jakarta, Kuala Lumpur, Manila, Singapore, Yangon
Websitewww.coconuts.co

Coconuts Tabloid Media was a multi-national media company across Hong Kong that published a network of local city websites and documentary videos online. The company served ten cities and countries across South East Asia, namely Bangkok, Manila, Hong Kong, Singapore, Kuala Lumpur, Jakarta, Bali and Yangon,[1][2][3][4][5] covering local news and cultural trends.[1][6] Coconuts Media used social media and video platforms to increase its reach.[3][7] In addition to English, the company produces content in Thai and Bahasa Indonesia.[2][8]

Coconuts Media employed around 40 staff members as of August 2016, half of whom are in editorial. In 2015, it had a reported total monthly reach of 14.6 million unique readers across all platforms.[2]

History

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Beginnings and growth (2011)

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Coconuts Media was inspired by US-based blogs such as the Gothamist network and New York's Gawker,[6] as well as BuzzFeed and Vice.[9][6] The company was founded by American journalist and entrepreneur Byron Perry,[9][6][10] out of his Bangkok apartment in September 19, 2011,[2][4][6][11][8][10] with Perry reportedly self-publishing nearly all the articles himself in the first months.[8][10][12]

Perry started his career in journalism as an Editorial Fellow for San Francisco Magazine before moving on to a copy editor position at the Hollywood trade magazine Variety in Los Angeles. At Variety, he covered movie premieres;[13] wrote columns on actor castings and talent agency signings;[14][15] and attended the 2008 Academy Awards as part of Variety’s coverage team.[16] After a brief stint as a Siam Reap reporter for The Phnom Penh Post, Perry moved to Thailand to work for Ensign Media as Executive Editor for the real estate trade magazine Property Report[17] and yachting magazine Helm. After a year and a half at Ensign Media, Perry launched Coconuts Media in 2011.[18]

Coconuts Media launched its first international branch in Manila in November 2012,[2][10][19] ahead of further expansion into Singapore in August 2013.[20][9] One month later, it launched a regional office in Hong Kong.[6][10]

ABS-CBN News partnership (2015)

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In March 2015, Coconuts Media signed a two-year content partnership with ABS-CBN,[4][3][5] allowing both parties to exchange news, features and video content on their respective platforms.[21][3] ABS-CBN said it hoped the deal will help them gain more granular coverage, especially in Southeast Asia,[3][4] while Coconuts Media said it wanted to expand its coverage of hard news and sports.[3][22][4]

Recognition

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Coconuts Media received an Honorable Mention in the 2015 SOPA Awards for Excellence for "Hidden in Plain Sight", a look at the legions of street children in Bangkok.[23]

In 2016, Coconuts Hong Kong Managing Editor Laurel Chor won a SOPA for Excellence in Feature Photography in Category B for a profile of Mui Thomas, a young Hong Kong woman with harlequin ichthyosis, a very rare and debilitating skin disease.[24]

Coconuts Media acquired the Bangkok print and online lifestyle magazine BK Magazine in 2021.[25]

Closure (2023)

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On December 19, 2023, Coconuts Media chairman Byron Perry announced the closure of Coconuts Tabloid Media. Perry attributed the closure to the difficulty of financial sustainability and regional journalistic challenges. Despite the closure of its namesake outlet, holding company Coconuts Media continues to operate its other subsidiaries, including BK Magazine, Soimilk, and Grove.[26]

Coconuts TV

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Coconuts Media produced in-house and freelance videos as Coconuts TV.[4][3] Aside from short reports and original documentaries,[2][3] Coconuts TV produced news, food, and travel reports,[2][8] aimed at international audiences.[8]

Funding and revenue

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A year after the launch of Coconuts Bangkok in 2011, the company reportedly raised a small and undisclosed round of Angel funding from private investors in Silicon Valley.[8][10] They would later go on to report a second round in 2013 after the launch of Coconuts Manila, before scoring a more substantial $2 million round in 2014.[2]

The main sources of revenue for Coconuts Media are reported to be traditional online banner ads, sponsored content[11][8][10] and video content, with some footage having been sold to unnamed European TV channels.[8]

From 2015 to 2016, Coconuts Media produced a sponsored content package for Thailand’s Singha beer, for which Coconuts TV produced a 12-episode video series on its food channel.[2][8] Coconuts Media also uses pre-roll ads for onsite videos.[27]

Coconuts media reportedly made almost $500,000 in revenue in 2015, with projected revenues in excess of $1 Million for the year of 2016.[2]

References

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  1. ^ a b "Q&A with Coconuts Media founder Byron Perry". mumbrella.asia. 13 July 2015. Retrieved 28 March 2016.
  2. ^ a b c d e f g h i j De Wall-Montgomery, Michael (4 January 2016). "Coconuts is a local news startup fast becoming the Patch of Southeast Asia". Venturebeat.com. Retrieved 28 March 2016.
  3. ^ a b c d e f g h Choa, Kane; Errol (15 June 2015). "ABS-CBN News & Coconuts Media form partnership". philstar.com. Retrieved 28 March 2016.
  4. ^ a b c d e f Alejo, Annie; S (25 May 2015). "'Snackable' digital content from ABS-CBN News and Coconuts Media partnership". mb.com.ph. Retrieved 28 March 2016.
  5. ^ a b Tabora, Brylle; B (1 June 2015). "Video as a medium to cover–and discover–art". lifestyle.inquirer.net. Retrieved 28 March 2016.
  6. ^ a b c d e f Shamdasani, Pavan (13 December 2014). "Local content delivered fast is the secret of success for Byron Perry's Coconuts websites". scmp.com. Retrieved 28 March 2016.
  7. ^ "Coconuts taps Brightcove for online video service in Asia". telecompaper.com. 15 March 2016. Retrieved 28 March 2016.
  8. ^ a b c d e f g h i Freischlad, Nadine (23 April 2015). "After going viral across Southeast Asia, hyperlocal blog Coconuts.co heads to India". techinasia.com. Retrieved 28 March 2016.
  9. ^ a b c Wee, Willis (9 April 2013). "Coconuts.co Announces Angel Funding and Sets Sights on Singapore". techinasia.com. Retrieved 28 March 2016.
  10. ^ a b c d e f g Lee, Terrance (26 December 2013). "Boredom led this ex-reporter to start Southeast Asia's hottest hyperlocal news company". techinasia.com. Retrieved 31 March 2016.
  11. ^ a b Lam, Apple (7 July 2014). "Coconuts: Sponsored content the way forward". marketing-interactive.com. Retrieved 28 March 2016.
  12. ^ "Coconuts Milestones". coconuts.co. Retrieved 2024-04-29.
  13. ^ Perry, Byron (21 December 2007). "'Bucket' premieres in L.A." variety.com. Retrieved 30 January 2017.
  14. ^ Perry, Byron (17 December 2008). "William H. Macy". variety.com. Retrieved 30 January 2017.
  15. ^ Perry, Byron (9 October 2008). "Tenpercenteries: Agency News". variety.com. Retrieved 30 January 2017.
  16. ^ Perry, Byron (14 February 2008). "Oscar plans on fast track". variety.com. Retrieved 30 January 2017.
  17. ^ Perry, Byron (25 March 2011). "Market Focus: A responsible approach to growth". property-report.com. Retrieved 30 January 2017.
  18. ^ Byron, Perry. "Coconuts". Linkedin. Linekdin. Retrieved 16 January 2017.[permanent dead link]
  19. ^ Racoma, J; Angelo (9 April 2013). "Singapore to go Coconuts in April". e27.co. Retrieved 31 March 2016.
  20. ^ Racoma, J; Angelo (9 April 2013). "Singapore to go Coconuts in April". e27.co. Retrieved 28 March 2016.
  21. ^ Bayani, Oliver (15 May 2015). "What can we expect from ABS-CBN x Coconuts Media?". adobomagazine.com/. Retrieved 28 March 2016.
  22. ^ Bayani, Oliver (15 May 2015). "What can we expect from ABS-CBN x Coconuts Media?". adobomagazine.com. Retrieved 1 April 2016.
  23. ^ "SOPA Award Winners List 2015" (PDF). SOPA. Archived from the original (PDF) on 9 July 2015. Retrieved 29 March 2016.
  24. ^ "SOPA Award Winners List 2016" (PDF). SOPA. Archived from the original (PDF) on 20 September 2016. Retrieved 22 August 2016.
  25. ^ "Booyah! Our shiny new media kit for 2021 has arrived". 2 March 2021.
  26. ^ "Alternative news website Coconuts to cease operations on Dec 31". CNA. Retrieved 2024-04-29.
  27. ^ "Coconuts taps Brightcove for online video service in Asia". telecompaper.com. 15 March 2016. Retrieved 1 April 2016.
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