…God Is Where The Money’s At
1. In a sign that there really is money in religion, GodTube recently announced that it has raised $30 million from GLG Partners. This round of financing gives the fledgling startup a $150 million valuation! What makes this site so special versus other video ventures? Other than being the YouTube for religious content, boasting over 2 million users a month and being operated by former CBS executives, nothing really. Interesting thing about GLG Partners is that they specialize in alternative assets and emerging marketing debt . (Their site is actually is not intended for US visitors due to regulatory requirements.) Strange bedfellow for GodTube, but I guess emerging markets need high-tech access to religion as much as we do.
2. More on GodTube - they’ve apparently copyrighted the phrase “Jesus 2.0“. Call me crazy, but this has to be marketing spin. I am by no means an academic in religious studies, but I’m pretty sure that the concept of Jesus has been around for a while. Is there really a need for Jesus 2.0? If so, someone has to explain what it is. Anyway, the lesson here is that if you can brand it, you can make money off of it.
3. Religion has a long history of raising money on TV. The granddaddy of them all is the Christian Broadcasting Network (CBN), the worlds largest “non-commercial” broadcast network founded in 1961 by Pat Robertson. According to Charity Navigator, CBN had revenue of $247 million in 2006, with expenses of nearly $236 million and net assets of $196 million. Not bad for a private company. (By the way, its President made nearly $300,000 in 2006.)
4. Go to Amazon. Search on “church marketing”. Get results with over 1,600 books! Go to Google. Search on “church marketing”. Get results for about 720,000 references!
5. There is no better sign of profit than signs of excess. Inplainsite.org offers a great insight in those with whom God has “blessed” with lifestyles of the rich and famous. The list reads like a who’s who of the Evangelist world - Benny Hinn, Paula and Randy White, Oral Roberts, Jim and Tammy Faye Bakker, and more!
