After a brief run under the umbrella of Southern California-based Speedboat magazine, Powerboat Nation is back with US Investment Holdings, its original owners group based in Delaware. The return of the popular online portal serving the high-performance powerboating community to its founders is yet another result of the economic fallout created by the COVID-19 pandemic.
Videos are an integral aspects of Powerboat Nation’s content offerings.
Launched eight years ago, the multifacted website offered a deep array of editorial content. Yet it was perhaps best known for an extensive selection of high-quality go-fast boating videos with subjects ranging from poker run coverage to do-it-yourself projects.
“While we were excited and had hoped that Powerboat Nation would thrive under its new owners, it just never grabbed hold as the site struggled to find consistency in content and editorial,” said a spokesperson for US Investment Holdings. “That Speedboat could no longer continue its ownership role with Powerboat Nation is, of course, unfortunate.
“Adapting to the accelerated pace of a daily or even weekly content-based website has to be challenging enough for print-based publishers, but the economic hardships delivered by the coronavirus crisis made a challenging situation even more so,” he continued. “In the end, they decided to walk away from the deal.”
Ray Lee, who co-publishes Speedboat magazine with Chris Davidson, said the decision was a must for the publication’s long-estabiished media identity.
“Frankly, it was very challenging for us between the two brands,” he said. “It confused the public and so we couldn’t get a strong foothold on the best direction for each—which I think caused both brands to suffer. Going forward, we are going to focus fully on our print publication Speedboat Magazine and make it the best it possibly can be.”
At present US Investment Holdings is considering its options, according to the spokesman, for the future of Powerboat Nation. US Investment Holdings also owns and operates Powerboat1.com, a rapidly expanding, video-based do-it-yourself website launched in late 2019.