The Death of Content Websites: Why Indiemaker Never Liked Them Anyway

Content websites were never real businesses. They were Google-dependent, overhyped, and massively overvalued. Investors treated them like appreciating digital real estate, some even paying 40x revenue for blogs that could vanish with a single algorithm update. And now? The market has caught up.

The content website as an asset class is dead.

Google’s algorithm updates crushed traffic to low-value content sites, and AI-generated answers are taking over search results. Suddenly, content website investments aren't cash cows – they're sinking ships.

But let’s be clear: content itself isn’t dead. What’s dying is the idea that content sites are valuable standalone assets.

At Indiemaker, we allowed content websites in the early days, and we’ll be honest – we failed terribly at creating good policies around them. The category was plagued with low-quality, templatized junk from people trying to make a quick flip. And while some content sites had real value, the majority were just SEO arbitrage plays that were never built to last.

The easy-money days are over. If you’re still clinging to a content site, it’s time to rethink your strategy.

Why Content Websites Were Always a Risky Bet

Content-only sites were never stable businesses. They were always at the mercy of Google’s algorithm changes. But the real problem? These sites weren’t just risky – they were massively overvalued.

Unrealistic Valuations: From 1x to 40x and Back to Reality

For years, investors treated content sites like bulletproof investments. But in reality, they were over-leveraged, fragile, and completely at Google’s mercy. At Indiemaker, we never bought into the hype. Most were worth a 1x multiple at best, and that's exactly what we told our users. But since sellers set their own prices, we saw everything, from reasonable deals to outright delusional asks.

🚀 30x, 40x revenue for a Google-dependent blog? We saw it.
🚀 People treating ad-heavy content sites like stable, long-term assets? We saw it.

And now? The market has corrected. Multiples have crashed, investor demand has dried up, and anyone who overpaid for a content site in 2021 feels the pain. Investors who bought sites at 30x, 40x multiples? They’re sitting on worthless inventory that nobody wants to buy anymore.

Because the truth never changed:

They Were Valued Like Digital Real Estate – But Had No Real Ownership
Websites were treated like "online property," but they were just renting space in Google's ecosystem. When the landscape changed, its value evaporated.
Ads & Affiliates Are a Weak Foundation – If you don’t control the product, you don’t control your margins. Relying on ad networks means your revenue can vanish overnight.
They Had No True Competitive Advantage – If AI can generate your article in two seconds, it was never valuable in the first place. Forgettable, replaceable content is not an asset. Nor is the traffic you don't control.

The result? Content websites have collapsed as an asset class. But that doesn’t mean the content itself is dead – it means the model has to change.

The Smart Move: Pivot or Perish

The days of flipping content websites for big profits are over. If you’re sitting on a dying SEO site, now is your last chance to make a move.

You have three options:

1. Build Value from Scratch

If you own a content site that still gets traffic, don’t just let it die – build something real. Content alone isn’t a business, but it can be a foundation for one.

Create a product, service, or tool that aligns with your audience.
Turn passive readers into paying customers.
Stop relying on ad networks and start controlling your revenue.

🚀 Example: Own a content site about personal finance? Instead of pushing affiliate links, launch a budgeting tool or a premium financial planning course.

If you have an audience, sell them something useful.

2. Partner – Creators and Makers

Most content site owners struggle with monetization, and most Indiemakers struggle with distribution. The solution? Work together. Content drives demand. Software captures value.

🚀 Example: A travel blogger with an audience doesn’t just slap on affiliate links. Instead, they partner with a dev who has built a custom trip planner tool and sell it directly.

If you have eyeballs but no product, find a builder. If you have a product but no audience, find a creator. This model wins now.

3. Buy & Merge Valuable IP

If your content site is dying from declining SEO, bolt-on something valuable – not just ads.

🔗 What to Acquire:

SaaS & Tools – A simple app that solves a real problem.
Directories & Marketplaces – Where your audience can interact or transact.
Utilities & Digital Products – A database, template library, or interactive resource.

🚀 Example: Own a content site about productivity? Buy a lightweight to-do list app and integrate it. Own a niche directory? Turn it into a premium subscription community.

Instead of watching content sites die, merge media with products and create something sustainable.

Indiemaker has plenty of affordable projects and assets that can be merged with a struggling content site to create something more valuable. If you’ve got a niche audience, find a complementary asset and turn your site into a real business.

Final Thoughts

At Indiemaker, we’ve always been sceptical of content sites. They were never built to last. But that doesn’t mean you’re out of options. You can still build – or buy – value.

So here’s the move:

✅ Build – Create a product, service, or tool that complements your content.
✅ Pair – Match creators with makers to build lasting businesses.
✅ Acquire – Merge your content with valuable digital assets.

The content site bubble has popped.The only move now? Build something real, or get left behind. 🚀