We are in a strange time for the media business. There is a consensus that having a loyal audience has never been more valuable. You regularly hear people saying that every company, at some level, will be a media business in the future. And yet, being a media business is more challenging than ever, at least for quote unquote traditional media businesses. This week, Troy and Brian discuss just what makes a media business, and how it is completely different than what came before. It’s more about understanding digital culture, it’s more personality driven, and it is very often not about the quest for eyeballs to show ads, or even to sell subscriptions.