Crypto media company Blockworks acquires The Breakdown

May 9, 2024

Source: AXIOS

Written by: Sara Fischer

Blockworks, a media company that covers cryptocurrency for professionals, has acquired The Breakdown, a podcast network, Blockworks co-founder Jason Yanowitz told Axios.

Why it matters: The deal marks the company’s first acquisition since raising its first round of private capital last May.

“This acquisition marks a significant expansion of our podcast network, enhances our advertising capabilities, and broadens our distribution channels,” Yanowitz said.

He added that the deal also strengthens Blockworks’ ability to cross promote events and research.

Zoom in: The Breakdown will become the flagship daily podcast of Blockworks.

The Breakdown consists of The Breakdown podcast, a YouTube channel, and a newsletter, as well as the Bitcoin Builders podcast.
Deal terms were not disclosed.

Zoom out: The agreement is part of a broader strategy shift at Blockworks to invest in podcasts that it can build into bigger standalone media brands via ancillary products, like newsletters and events, that cater to different audiences.

Up until now, its shows — such as Empire, Bell Curve, 0xResearch, Lightspeed, Forward Guidance, On the Margin, and 1000x — were all created in-house.

Catch up quick: Yanowitz co-founded Blockworks in 2018 with Michael Ippolito.

The firm makes money from selling ads and sponsorships against digital products, like podcasts and newsletters, and events. It also sells subscriptions to professionals for its research and analytics platform.
The company was bootstrapped for its first five years. It raised its first venture round in May 2023 — $12 million at $135 million valuation.

By the numbers: Yanowitz said the company plans to end the year with around 85 employees, up from around 65 today.

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