Content Equity
London · Measurement consultancy · Est. 2018

Your content is an asset. Almost nobody accounts for it.

Marketing spends millions producing material that keeps generating demand for years, then reports on it monthly as though it were an expense that vanished on publication. We build the models that value a content portfolio properly, measure what it actually returns, and tell you which parts to retire.

Independent. No media buying, no production, no commission on anything we recommend.

Content portfolio valueIndexed, 24 months, illustrative client
240180120600 M0M6M12M24 Managed portfolio Unmanaged portfolio
+141%Managed, 24 months
−12%Unmanaged, 24 months
7.1%Quarterly decay, untreated
The thesis

Content behaves like a portfolio of depreciating assets. Treat it like one.

An article published two years ago that still brings in forty qualified visits a month is not an expense from 2024. It is a producing asset with a maintenance cost, a decay curve and a residual value. Most organisations have never calculated any of the three.

The consequences are predictable. Budgets go entirely to new production while the existing portfolio quietly decays. Nobody knows which pieces produce and which merely exist, so nothing is ever retired. And when the finance director asks what content returns, marketing produces an impressions figure, which persuades nobody and deserves not to.

We apply straightforward asset management to the problem: inventory the portfolio, measure contribution, model decay, calculate maintenance cost against residual value, and produce a schedule of what to refresh, what to consolidate and what to remove.

It is not glamorous work. It is, in our experience, the single highest-return analytical exercise available to a marketing function that already publishes at volume.

  • Inventory — every asset, its cost, its age and its current contribution
  • Contribution — attributed pipeline, validated against holdout testing
  • Decay — the rate at which each content class loses value untreated
  • Disposition — refresh, consolidate, retire, with the expected return of each
Financial dashboard with charts displayed on a dark screen
Services

Six engagements, all analytical.

We do not produce content and we do not buy media. That independence is the point — nothing we recommend increases our own fee.

S.01

Portfolio valuation

A full inventory of your content estate with a modelled value for each asset class, its decay curve and its maintenance cost. Delivered as a working model, not a slide deck.

  • Complete asset inventory
  • Contribution modelling
  • Decay curve estimation
  • Disposition schedule
S.02

Attribution modelling

Multi-touch attribution built for your data reality rather than a vendor's demo. Validated against geo-holdout or time-series testing before anyone is asked to believe it.

  • Data audit and gap analysis
  • Model selection and build
  • Holdout validation
  • Confidence intervals stated
S.03

Marketing mix modelling

Where attribution cannot reach — brand, offline, long consideration cycles — we build econometric models to estimate the contribution of content alongside every other lever.

  • Econometric model build
  • Saturation and adstock curves
  • Scenario planning tool
  • Quarterly refresh
S.04

Content P&L

A management report that presents content the way finance presents anything else: cost, return, asset value, depreciation and a forecast. Written to survive a board meeting.

  • Monthly management report
  • Cost per attributed opportunity
  • Portfolio value movement
  • Board-ready summary
S.05

Measurement infrastructure

The tracking, taxonomy and data pipeline that makes any of the above possible. Usually the least glamorous and most valuable part of an engagement.

  • Tracking plan design
  • Content taxonomy
  • Warehouse modelling
  • Data quality monitoring
S.06

Due diligence

Independent assessment of a target's content and organic acquisition for private equity and corporate development teams. Delivered to a transaction timetable.

  • Organic acquisition quality
  • Content asset durability
  • Key-person dependency
  • Red flags and adjustments
Portfolio view

What a content estate looks like when you value it.

An anonymised extract from a client portfolio review. Sort any column — this is roughly the view our clients get every quarter.

Content asset classes — illustrative client portfolio, 24-month view
Asset classAssetsProduction costAttributed pipelineReturnAnnual decayDisposition
Evergreen guides184£112,400£2,840,00025.3×−6%Refresh
Customer case studies62£74,800£1,410,00018.9×−9%Expand
Product comparison pages41£31,200£980,00031.4×−4%Expand
Webinar recordings96£148,000£412,0002.8×−34%Consolidate
News & announcements741£96,300£61,0000.6×−71%Retire
Thought leadership essays128£184,600£1,090,0005.9×−18%Maintain
Short-form social2,840£212,000£340,0001.6×−94%Reduce
Technical documentation312£88,900£1,720,00019.3×−3%Expand

Figures anonymised and rebased. Attributed pipeline uses a validated multi-touch model with a stated confidence interval of ±14%.

OBSERVATION 01

The 741 problem

News and announcements accounted for 46% of everything published and 1.4% of attributed pipeline. Retiring the class released £96,000 a year of production capacity and improved site-wide organic performance by removing thin pages.

OBSERVATION 02

Documentation is marketing

Technical documentation, owned by engineering and excluded from every previous marketing report, was the third-highest contributor in the portfolio. It had never received a penny of investment.

OBSERVATION 03

Decay is the real cost

Untreated, this portfolio lost 7.1% of its attributed contribution every quarter. A modest refresh programme costing £34,000 a year recovered most of it — a better return than any new production line available.

0Assets under review
£0mPipeline attributed to date
0UK organisations advised
0Media commissions taken
Two people shaking hands over a laptop in a dark office
Method

Five stages, and we show our working.

Every model we build is delivered with its assumptions written down, its confidence intervals stated and its code handed over. If an analyst on your team cannot reproduce our result, we have not finished.

  • 01 — Data audit. What you have, what is missing, and what that costs in confidence. We will tell you if the data cannot support the question.
  • 02 — Inventory. Every asset catalogued with its production cost, publication date, class and current performance.
  • 03 — Model. Attribution or mix modelling as appropriate, built against your data rather than a template.
  • 04 — Validate. Holdout or geo-testing before any number is presented to a board. Models that fail validation are rebuilt, not softened.
  • 05 — Hand over. Code, documentation and a working session with your analysts. Ongoing management is optional, not assumed.
Client notes

What clients report afterwards.

Colleagues joining hands over a table of printed reports

"The first output was a list of 741 pages to delete. Our marketing director was furious for a week and then quoted it in a board paper."

Chief Financial OfficerB2B software, 400 staff

"They validated the model against a geo-holdout before showing us anything. No agency had ever offered to prove their numbers were wrong first."

Head of AnalyticsFinancial services, London

"We used the portfolio valuation in a funding round. The investors' analyst said it was the first time she had seen content quantified credibly."

Marketing DirectorScale-up, Series C
Fees

Fixed fees, quoted before we start.

Excluding VAT. We do not bill by the hour, take commission, or resell any software.

Engagement A

Portfolio valuation

£18,500 fixed

Six weeks. The usual starting point.

  • Complete content inventory
  • Contribution and decay modelling
  • Disposition schedule
  • Working model handed over
  • Presented to your board
  • Analyst walkthrough included
Enquire
Engagement B — most commissioned

Attribution build

£42,000 fixed

Twelve weeks, two analysts and a lead.

  • Full data audit
  • Multi-touch model build
  • Holdout or geo validation
  • Warehouse implementation
  • Content P&L reporting pack
  • Code and documentation handover
  • Three months of support
Enquire
Engagement C

Portfolio management

£9,800 per quarter

Ongoing, after a valuation or build.

  • Quarterly portfolio review
  • Model refresh and revalidation
  • Updated disposition schedule
  • Content P&L each month
  • Scenario planning on request
  • Cancel with one quarter's notice
Enquire
FAQ

Reasonable scepticism, answered.

Can content genuinely be valued as an asset?
For internal management purposes, yes — we model the discounted future contribution of a portfolio exactly as you would any depreciating asset. To be explicit: this is a management accounting exercise, not a statutory capitalisation, and it should not appear on a balance sheet without your auditor's agreement. We state that limitation in every report.
Is attribution not fundamentally unreliable?
Single-touch attribution largely is. Multi-touch modelling validated against holdout testing is considerably better, and marketing mix modelling covers what neither can see. We always state confidence intervals, and we have twice told a prospective client that their data could not support the question they were asking.
Do you replace our analytics team?
No. We build, validate, document and hand over. Roughly two thirds of engagements end with the client's own analysts running the model, which is the intended outcome. Ongoing portfolio management is available but never assumed.
What data do you need from us?
Web analytics, CRM opportunity data, content production costs and, where relevant, media spend. Production cost data is the one clients most often lack; where it is missing we estimate it with you and flag the resulting uncertainty rather than quietly absorbing it.
Do you sell any software?
None, and we take no referral fees from vendors. Models are built in Python or R against your own warehouse and delivered as code you own. Where a tool would genuinely help, we say which one and tell you we get nothing for saying it.
Will you tell us to spend less on marketing?
Sometimes on parts of it, yes. More often we recommend redirecting spend from new production to maintaining an existing portfolio, because the return on refresh usually beats the return on the next new thing. That recommendation costs us nothing, which is precisely why we can make it.
Do you work with finance teams directly?
Frequently. About a third of our engagements are commissioned by a CFO or FD rather than by marketing, and our reporting is deliberately written in a register that survives a finance review.
Contact

Request a portfolio assessment.

A 45-minute call in which we ask about your data, your reporting and what your board currently believes about content. You will get an honest view on whether a valuation would tell you anything you do not already know.

Direct

Email
[email protected]

Telephone
+44 20 7946 0921

Office
Fourth Floor, 30 Finsbury Square, London EC2A 1AG, United Kingdom

Hours
Monday to Friday, 09:00–18:00 GMT

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