Politico | March 06, 2019 06:04:02When you think of the Nextstar Media Group, you think corporate media, like a media conglomerate, and not much else.
But its parent company, NextStar Media, is making an attempt to be more than just an industry group.
The media company is hoping to become a leader in digital content and to serve as a model for media conglomerates.
In its latest quarter, NeXTStar Media reported net income of $1.4 billion.
It also saw revenue grow 9.5% to $4.5 billion.
The company’s CEO, Scott Nextman, and the group’s president and chief operating officer, David Shipp, made a splash when they announced the creation of the group in August, just a few months after it was founded.
NextStar’s biggest revenue growth was in digital video content, which grew 23.6% to 7.5 million subscribers.
That led to $1 billion in revenue, including $1 million from the video subscription service.
The group said it saw a boost in new subscribers after the launch of its app, which lets people create videos and upload them to NextStars YouTube channel, and its new mobile app, the NeXT Star.
Its chief executive, Neha Khanna, said the company is looking for more users to create content on mobile.
The company has also been working on a new service called “NeXT Star” that is intended to replace the NeXStar app, according to the company.
The service will be available in April.
The NeXstar group, which is based in New York, said it has more than 100 employees, and it has raised more than $1B in funding.
NextSTAR Media has a presence in more than 60 countries and has offices in London, Los Angeles, San Francisco and Boston.