Meet Me at Forbes Media Tower? Magazines Turn to International Licensing for Growth
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Sometimes, it’s relatively easy for media companies to make money. How easy can it be? In exchange for lending its name to a building in the Philippines, Forbes Media has collected an upfront fee plus a promise of a share in lease revenue and condomium sales once the tower opens in 2019.
“We have all kinds of interests in making sure the quality and every use of the name is done in the proper way,” Forbes Media CEO Mike Perlis said. But, he concluded, “It’s a very low-cost relationship to the return we receive.”
Forbes Media is already looking for other, similar real estate opportunities. The company is also interested in opening up Forbes-branded business clubs around the world, but particularly in Asia, where the brand is especially popular with businesspeople.
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