Coconuts Media
{{unreliable sources|date=February 2017}}{{Short description|Media company}}
{{Infobox company
| name = Coconuts Tabloid Media
| logo = CoconutMedia.PNG
| type = Private
| foundation = {{Start date and age|2011|09|15}} in Bangkok, Thailand
| founders = Byron Perry
| defunct = {{End date|2023|12|19}}
| location = Hong Kong
| locations = Bali, Bangkok, Hong Kong, Jakarta, Kuala Lumpur, Manila, Singapore, Yangon
| key_people =
| area_served =
| industry = Media
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| homepage = {{URL|coconuts.co}}
| footnotes =
}}
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,{{cite web |url=http://www.mumbrella.asia/2015/07/qa-with-coconuts-media-founder-byron-perry/ |title= Q&A with Coconuts Media founder Byron Perry|author= |date=13 July 2015 |website=mumbrella.asia |access-date= 28 March 2016}}{{cite web|url=https://venturebeat.com/2016/01/04/coconuts-is-a-local-news-startup-fast-becoming-the-patch-of-southeast-asia/|title=Coconuts is a local news startup fast becoming the Patch of Southeast Asia|last1=De Wall-Montgomery|first1=Michael |date=4 January 2016|website= Venturebeat.com|access-date=28 March 2016}}{{cite web |url=http://www.philstar.com/entertainment/2015/06/15/1465858/abs-cbn-news-coconuts-media-form-partnership |title=ABS-CBN News & Coconuts Media form partnership |last1=Choa |first1=Kane |last2=Errol |date=15 June 2015 |website=philstar.com |access-date= 28 March 2016}}{{cite web |url=http://www.mb.com.ph/snackable-digital-content-from-abs-cbn-news-and-coconuts-media-partnership/ |title='Snackable' digital content from ABS-CBN News and Coconuts Media partnership |last1=Alejo |first1=Annie |last2=S |date=25 May 2015 |website=mb.com.ph |access-date=28 March 2016}}{{cite web |url=http://lifestyle.inquirer.net/195165/video-as-a-medium-to-cover-and-discover-art |title=Video as a medium to cover–and discover–art |last1=Tabora |first1=Brylle |last2=B |date=1 June 2015 |website=lifestyle.inquirer.net | access-date=28 March 2016}} covering local news and cultural trends. Coconuts Media used social media and video platforms to increase its reach.{{cite web |url=http://www.telecompaper.com/news/coconuts-taps-brightcove-for-online-video-service-in-asia--1133554 |title=Coconuts taps Brightcove for online video service in Asia |author= |date=15 March 2016 |website=telecompaper.com |access-date=28 March 2016}} In addition to English, the company produces content in Thai and Indonesian.{{cite web |url=https://www.techinasia.com/coconutsco-moved-fast-enter-southeast-asia-hyperlocal-city-news-sites-india |title=After going viral across Southeast Asia, hyperlocal blog Coconuts.co heads to India |last1=Freischlad |first1=Nadine |date=23 April 2015 |website=techinasia.com |access-date=28 March 2016}}
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.
History
= Beginnings and growth (2011) =
Coconuts Media was inspired by US-based blogs such as the Gothamist network and New York's Gawker, as well as BuzzFeed and Vice.{{cite web |url=http://www.scmp.com/lifestyle/arts-culture/article/1661424/local-content-delivered-fast-secret-success-byron-perrys |title=Local content delivered fast is the secret of success for Byron Perry's Coconuts websites |last1=Shamdasani |first1=Pavan |date=13 December 2014 |website=scmp.com |access-date=28 March 2016}} The company was founded by American journalist and entrepreneur Byron Perry,{{cite web |url=https://www.techinasia.com/bored-reporter-starts-coconuts-asias-rising-star-hyperlocal-journalism |title=Boredom led this ex-reporter to start Southeast Asia's hottest hyperlocal news company |last1=Lee |first1=Terrance |date=26 December 2013 |website=techinasia.com |access-date=31 March 2016}} out of his Bangkok apartment in September 19, 2011,{{cite web |last1=Lam |first1=Apple |date=7 July 2014 |title=Coconuts: Sponsored content the way forward |url=http://www.marketing-interactive.com/coconuts-sponsored-content-way-forward/ |access-date=28 March 2016 |website=marketing-interactive.com}} with Perry reportedly self-publishing nearly all the articles himself in the first months.{{Cite web |title=Coconuts Milestones |url=https://coconuts.co/coconuts-milestone/ |access-date=2024-04-29 |website=coconuts.co}}
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;{{cite web |url=https://variety.com/2007/scene/vpage/bucket-premieres-in-l-a-1117978121/ |title='Bucket' premieres in L.A. |last1=Perry |first1=Byron |date=21 December 2007 |website=variety.com |access-date=30 January 2017}} wrote columns on actor castings and talent agency signings;{{cite web |url=https://variety.com/2008/scene/markets-festivals/william-h-macy-1117997556/ |title=William H. Macy |last1=Perry |first1=Byron |date=17 December 2008 |website=variety.com |access-date=30 January 2017}}{{cite web |url=https://variety.com/2008/film/markets-festivals/tenpercenteries-agency-news-1117993731/ |title=Tenpercenteries: Agency News |last1=Perry |first1=Byron |date=9 October 2008 |website=variety.com |access-date=30 January 2017}} and attended the 2008 Academy Awards as part of Variety’s coverage team.{{cite web |url=https://variety.com/2008/film/awards/oscar-plans-on-fast-track-1117980936/ |title=Oscar plans on fast track |last1=Perry |first1=Byron |date=14 February 2008 |website=variety.com |access-date=30 January 2017}} 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{{cite web |url=http://www.property-report.com/market-focus-a-responsible-approach-to-growth/ |title=Market Focus: A responsible approach to growth |last1=Perry |first1=Byron |date=25 March 2011 |website=property-report.com |access-date=30 January 2017}} and yachting magazine Helm. After a year and a half at Ensign Media, Perry launched Coconuts Media in 2011.{{cite web|last1=Byron|first1=Perry|title=Coconuts|url=https://us.linkedin.com/in/byron-perry-82203b2a|website=Linkedin|publisher=Linekdin|access-date=16 January 2017}}{{Dead link|date=July 2020 |bot=InternetArchiveBot |fix-attempted=yes }}
Coconuts Media launched its first international branch in Manila in November 2012,{{cite web |url=https://e27.co/singapore-to-go-coconuts-in-april/ |title=Singapore to go Coconuts in April |last1=Racoma |first1=J |last2=Angelo |date=9 April 2013 |website=e27.co |access-date=31 March 2016}} ahead of further expansion into Singapore in August 2013.{{cite web |url=https://e27.co/singapore-to-go-coconuts-in-april/ |title=Singapore to go Coconuts in April |last1=Racoma |first1=J | last2=Angelo |date=9 April 2013 |website=e27.co |access-date=28 March 2016}}{{cite web |url=https://www.techinasia.com/coconuts-media-announces-coconutsco-angel-funding |title=Coconuts.co Announces Angel Funding and Sets Sights on Singapore |last1=Wee |first1=Willis |date=9 April 2013 |website=techinasia.com |access-date=28 March 2016}} One month later, it launched a regional office in Hong Kong.
= ABS-CBN News partnership (2015) =
In March 2015, Coconuts Media signed a two-year content partnership with ABS-CBN, allowing both parties to exchange news, features and video content on their respective platforms.{{cite web |url=http://adobomagazine.com/philippine-news/what-can-we-expect-abs-cbn-x-coconuts-media |title=What can we expect from ABS-CBN x Coconuts Media? |last1=Bayani |first1=Oliver |date=15 May 2015 |website=adobomagazine.com/ |access-date=28 March 2016}} ABS-CBN said it hoped the deal will help them gain more granular coverage, especially in Southeast Asia, while Coconuts Media said it wanted to expand its coverage of hard news and sports.{{cite web |last1=Bayani |first1=Oliver |date=15 May 2015 |title=What can we expect from ABS-CBN x Coconuts Media? |url=http://adobomagazine.com/philippine-news/what-can-we-expect-abs-cbn-x-coconuts-media |access-date=1 April 2016 |website=adobomagazine.com}}
= Recognition =
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.{{cite web |title=SOPA Award Winners List 2015 |url=http://www.sopawards.com/wp-content/uploads/2015/06/SOPA-2015-Awards-Winner-List.pdf |url-status=dead |archive-url=https://web.archive.org/web/20150709093035/http://www.sopawards.com/wp-content/uploads/2015/06/SOPA-2015-Awards-Winner-List.pdf |archive-date=9 July 2015 |access-date=29 March 2016 |publisher=SOPA}}
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.{{cite web |title=SOPA Award Winners List 2016 |url=http://www.sopawards.com/wp-content/uploads/2016/08/SOPA-2016-Awards-Winner-List_v2.pdf |url-status=dead |archive-url=https://web.archive.org/web/20160920184811/http://www.sopawards.com/wp-content/uploads/2016/08/SOPA-2016-Awards-Winner-List_v2.pdf |archive-date=20 September 2016 |access-date=22 August 2016 |publisher=SOPA}}
Coconuts Media acquired the Bangkok print and online lifestyle magazine BK Magazine in 2021.{{Cite web |date=2 March 2021 |title=Booyah! Our shiny new media kit for 2021 has arrived |url=https://bk.asia-city.com/things-to-do-bangkok/news/booyah-our-shiny-new-media-kit-2021-has-arrived}}
= Closure (2023) =
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.{{Cite web |title=Alternative news website Coconuts to cease operations on Dec 31 |url=https://www.channelnewsasia.com/business/news-website-coconuts-co-close-dec-31-offices-4000756 |access-date=2024-04-29 |website=CNA |language=en}}
Coconuts TV
Funding and revenue
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. 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.
The main sources of revenue for Coconuts Media are reported to be traditional online banner ads, sponsored content and video content, with some footage having been sold to unnamed European TV channels.
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. Coconuts Media also uses pre-roll ads for onsite videos.{{cite web |url=http://www.telecompaper.com/news/coconuts-taps-brightcove-for-online-video-service-in-asia--1133554 |title=Coconuts taps Brightcove for online video service in Asia |author= |date=15 March 2016 |website=telecompaper.com |access-date=1 April 2016}}
Coconuts media reportedly made almost $500,000 in revenue in 2015, with projected revenues in excess of $1 Million for the year of 2016.