Revenue streams for the next 12-24 months are looking shaky, and we need to act. When I look at the most resilient media companies, they all have one thing in common - they've diversified their distribution channels to the point where they're no longer reliant on a single platform or revenue source. Think of diversifying distribution as an exercise in hedging, it's a way to mitigate risk and build long-term sustainability.

Let's face it, we can't control the whims of any one platform, especially with all the changes happening in digital media. A media business built on Instagram, TikTok, or even YouTube alone is a ticking time bomb waiting for a platform shift that can leave you on the sidelines. It's a classic case of putting all your eggs in one basket and hoping for the best. We've seen plenty of companies like Vine and Snapchat's Discover that relied too heavily on platform-specific features and got wiped out due to changes in those platforms' priorities or shifts in consumer behavior.

If you're building a digital media business or want to future-proof your existing operations, you need to expand your reach and revenue options. This means investing in podcasting, building a community platform, developing your own OTT (over-the-top) offerings, and exploring other formats that allow you to engage audiences on different touchpoints. Don't just think about the platforms we know today, focus on the types of content and platforms that will likely be relevant in the next 2-5 years. It's a multi-channel strategy, but it's also a multi-horizon strategy, you need to think about how you'll adapt and grow to stay relevant in a rapidly evolving media landscape.