According to Skift, the two firms planned to raise $300 million to acquire and develop the 120-room properties by 2030. The hotels will be located near popular outdoor destinations and cater to travelers seeking comfortable accommodations in rustic locales.
Field & Stream IP LLC declined to name the other investors in the group, nor would it share who owns what percentage of the company.
Advertising and reader revenue remain paramount
While still somewhat complex, having all licensing rights consolidated under Field & Stream IP LLC lets the company tap into a broader array of licensing ventures.
These lines of business will still complement Field & Stream’s primary revenue drivers of advertising and reader revenue, said McNamee. The company wouldn’t share a more specific breakdown of its revenue composition or offer revenue projections.
The media arm of Field & Stream includes seven full-time editorial staff and a roster of around 30 freelance writers. The company has started hiring direct sales staff to pitch brands on buying direct advertising deals against its digital inventory.
“If Field & Stream can take a brand—say, a water bottle—and integrate it onto the website, into the hotel rooms, into the music festival, and onto print magazine, that could be attractive to the right brand,” said Thrive Digital founder and president Jonathan Becker.
The membership product, the 1871 Club, costs $15 per year or $75 per year, but only the latter provides members with the biannual print magazine and early access to tickets for Field & Stream Music Fest. Three-day tickets to the festival cost between $189 and $1,089, and Eric Church will be headlining.
The publisher also expects to generate more revenue from merchandise, which it can now sell on-site rather than having to whisk away interested readers to third-party vendors through an affiliate program. While Field & Stream can now produce its own products, such as fishing poles or apparel, it plans to wade into retail cautiously, according to McNamee.
“Licensing is predicated on a brand being relevant,” McNamee. “If Field & Stream has been relevant despite its fractured ownership, imagine what we can do now.”
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