DriveTribe, a website started by Jeremy Clarkson, Richard Hammond, and James May, has reported losses of £21 million over a four year period. The Grand Tour stars may have taken a dive into success with the Amazon Prime Video show reportedly making millions, but their step into the world of social media is currently looking like it’s eating money faster than it can make it.
DriveTribe is a website that promised to be the go-to site for car enthusiasts, and while it has certainly made a name for itself and has collected millions of fans, “investments” made by the company behind the site, Digital Tribe Holdings, have resulted in these figures despite relentless backing from the likes of Disney and Elisabeth Murdoch.
Jonathan Morris tells the Daily Mail the following:
“It’s just the way accounts are reported in the UK – investment counts towards losses and we have made a lot of inward investment,” he says. “We have a longer-term plan and have seen some strong growth.”
With FoodTribe popping up alongside DriveTribe, it wouldn’t be a shock to imagine that the company is building a website template that can be adapted to different genres, allowing users to create their own content on what they love. I wouldn’t be surprised if they’re working on selling this to third parties, either, however this is uncomfirned.
We’re looking forward to seeing how DriveTribe and its sister site Foodribe grow over the coming years.