The Association of Magazine Media

Brand Power: Unlocking New Revenue Streams Recap


 

Leveraging Brands and Innovation for New Consumer Revenue

Tom Witschi, president of consumer products, Meredith Corporation shares that even in changing times for the industry, Meredith continues to grow their audiences and the number of people who pay for content. He said that part of what differentiates Meredith from other companies is their expertise in combining audience intelligence with the authentic voice of their editors, creating content that resonates with the consumer.

To continue reaching new audiences and finding new revenue sources, Meredith’s focus is on brand licensing and a range of consumer revenue streams including ShopNation, performance marketing, membership programs and partnerships. According to Witschi, Meredith is the second largest licensor in the world, working closely with companies like Walmart, Realogy and Bellisio Foods to meet consumer needs.

 

Refining Prospect-Audience Profiles to Optimise Marketing Effectiveness and Maximise Subscription

Looking to increase subscription revenue, The Economist—a 172-year-old publication—saw the massive reach of their social media platforms and decided to use data to reach these potential new subscribers. As Mark Beard, SVP, Global Digital Media and Content Strategy, The Economist, demonstrated to the group, The Economist had an issue with brand perception: many people thought only brokers and older men read the publication.  The Economist team decided to tackle this issue head-on with a “Brand Response” campaign, focusing on measurable provocative content, cutting-edge technology and social media. By working closely with the editorial team and creating thousands of ad placements, creative variants and AB copy testing, the campaign generated thousands of subscribers and created millions of new prospects.

 

The Future of Consumer Paid Products and Services

Anup Swamy, SVP, Consumer Market Development, Time Inc. said that one of Time Inc.’s top priorities is to build new consumer-driven revenue and profit streams by leveraging their direct consumer relationships, marketing expertise, digital audiences, data insights and world-class brands. To do this, the company recently launched two new businesses. The first, Pet Hero, is a program that gives members veterinary discounts, seasonal gift boxes, discounted prescriptions, lost pet recovery and an active community of pet lovers. The second business, People Perk$, gives members exclusive discounts to a range of stores and allows them access to a number of VIP events. Swamy reiterated that building and launching new businesses takes time, and there are sure to be mistakes along the way.

 

Take to the Oars

Citing the proverb “If the wind will not serve, take to the oars,” Andy Clurman, President and CEO, Active Interest Media, discussed AIM’s evolution and the shift from majority marketer revenue to consumer revenue. This shift includes a greater emphasis on events; video and film via AIM studios; marketing and branding services through Catapult Creative Labs; an increase in digital audience; online education, including five online universities and 150 classes; and membership programs, including Yoga Teachers Plus, Cruising Club, IDEA Fitness and more. Because of these changes, 55% of AIM’s revenue comes from consumers.

View presentation here

 

What's Different About Subscribers
Working with over 50,000 sites and 80% of the U.S. publishers, Chartbeat is a content intelligence platform that helps companies identify loyal readers who could potentially become subscribers. Terri Walter, CMO, Chartbeat identified three opportunities for publishers to leverage this insight on reader loyalty: keeping subscribers engaged, reaching out to loyal non-subscribers and understanding the distinct behavior of loyal audiences to facilitate growth. Walter told the group to think beyond acquisition to retention. She said, “For both subscribers and loyalists, there are revenue opportunities waiting.” 

View presentation here

F+W: A Diversity of Revenue Streams

As head of the parent company of leading crafting and fine art brands, Tom Beusse, CEO, F+W Media is an expert on driving commerce from content. Beusse said there is no “church and state” concerns in their enthusiast space because consumers want both content and ecommerce all in the same location. F+W Media built on this insight and decided to focus their efforts on digital products, live events, video, online education and equipment sales. Beusse noted that magazines aren’t frequent enough to maintain brand relevance, so these additional revenue channels are necessary for financial success.

View presentation here

Transforming Your Assets into Revenue Gold
David Algire, Partner, MediaWorks 360 shared the company’s premium-priced membership strategy, urging publishers to bundle assets to increase brand value and create new and recurring revenue. Doing so strengthens relationships with core enthusiasts and connects advertisers with these consumers to engage in a private, online marketplace. Algire also urged publishers to integrate a subscription hierarchy to maximize ROI. This hierarchy encourages an offline-to-online payment migration across all consumer relationships.

View presentation here

 

How Images Are Opening Up New Revenue Opportunities for Publishers
Ruman Agarwal, Director, Analytics & Attribution, Accio shared how images can open new revenue opportunities for publishers. Joking that “a picture is worth a thousand bucks,” Agarwal said that Accio looks for shoppable products within pictures and matches them against a database of affiliated products. Those products are displayed on your website for the buyer to click and buy quickly.

View presentation here

 

Fashion's New Frontier: The Shoppable Magazine

In an interview with MPA’s Elizabeth Tighe, ShopBAZAAR E-commerce Director, Katie Hobbs discussed fashion magazines’ unique ability to “really curate an amazing selection of fashion and accessories.” Referring to magazine editors as the original influencers, Hobbs said that ShopBAZAAR tries to stay as aligned with Harper’s Bazaar magazine as possible because that’s what the readers are looking for. The ecommerce site enables women to move effortlessly from inspiration to acquisition all within a fully immersive fashion experience.

View presentation here

The Power of Condé Nast Brands: Unlocking Consumer Revenue
Mentioning Condé Nast’s large and growing audience, Cathy Glosser, SVP, Licensing, Condé Nast said the company is building on their creative heritage to drive business forward in an innovative way. To do this, Hoffman referred to the five pillars of revenue diversification:

  1. Brand extensions:  Engages consumers outside of the core business by entering into strategic partnerships that reinforce the brand’s values
  2. Collaborations: Brings edit to the table to strengthen brand tie-in and storytelling at retail
  3. Print-on-demand: Leverages of-the-moment content and converts this to merchandise sales. This caters to the consumer’s desire for customizable content.
  4. Endorsements: Creates anticipation and demand through annual franchise award programs to drive logo and seal sales
  5. Milestones: Commemorates key brand anniversaries and milestones through short-term partnerships and leverages the brand’s assets to tell the narrative