As the new year approaches, media companies are evaluating their misses in 2017 and goals for 2018. It was a tough year for digital media, with Mashable selling for one-fifth of its one-time valuation, BuzzFeed missing its revenue targets and frequent layoffs. At a Digiday Live Podcast event exclusively for Digiday+ members, editor-in-chief Brian Morrissey chatted with Vox Media CMO Lindsay Nelson about where the industry fell short.
There are many blaming digital media woes on ill-thought pivots to video and an addition to venture capital. Nonsense, according to Bustle Digital Group CEO Bryan Goldberg. The fundamental issue is there are too many digital publishers competing for what's left over from Google and Facebook. Goldberg discusses consolidation, investing in digital media businesses, the duopoly and more in this episode.
This has been yet another turbulent year in the media industry, and publishers have pivoted to wherever they found potential for ad dollars or an alternative revenue model. Some are experiencing success with subscription models, particularly those with a legacy of trust and quality associated with their names, like The New York Times. Ken Doctor, a news industry analyst joins us on this week's Digiday Podcast to discuss subscriptions for local news publishers, FCC decisions, the problem with digital-only models, Tronc and more in the episode.
"Social media platforms are very bad to retain the audience."
"Just putting all of our eggs in one basket because it’s the right short-term thing to do is not where we want to be."
Attn, the 3-year-old media brand that distributes video stories through social platforms, built itself into a short-form video giant by taking a Facebook-first approach. The publisher has tried to align its content with Facebook’s interests. On this week's Digiday podcast Attn CEO and founder said that directing audience away from Facebook to owned and operated properties is a losing strategy. Segal discussed building a brand on a social feed, Facebook’s new products for publishers and more on the podcast.
BuzzFeed food brand Tasty has reached 1.8 billion views monthly on its Facebook videos, but it's looking increasingly beyond views to driving real-world action. Besides making food videos for social feeds, the brand is also selling merchandise like customized cookbooks. Ashley McCollum, general manager of Tasty, joins us on the Digiday Podcast.
While Google and Facebook hamper publishers' efforts to grow digital ad dollars, The Washington Post CRO Jed Hartman said on this week’s Digiday Podcast that publishers need to figure out their unique value and stop "whining about the platforms."
The Food Innovation Group is home to legacy brands like Bon Appétit, but in the shift to digital, the magazine has become a complement to Bon Appétit's digital and social offerings. With the majority of the group's revenue now also coming from digital, it's embracing programmatic advertising.
“Programmatic is an activation method versus a buying strategy. If display [advertising] is a function of getting more programmatic, there’s a huge opportunity to streamline and create less friction [in transactions]," said Craig Kostelic, chief business officer of Food Innovation Group and Condé Nast’s Lifestyle Collection, on this week’s Digiday Podcast.
The New York Times is one of a few privileged publishers that have transitioned into a subscription business, and to do this, it started behaving like a consumer brand, according to the Times’ evp and COO Meredith Kopit Levien. She talks about subscriptions, advertising, differentiating from free alternatives and more on this week’s Digiday Podcast.
Politico has successfully steered its business model from advertising to subscriptions. Today, with 25,000 Politico Pro subscribers and a 90 percent renewal rate, Politico gets over 50 percent of its revenue from its high-priced subscription services. The key lies in focusing on the coverage that has been pivotal for Politico, according to Politico President Poppy MacDonald. The publisher has not wavered from its original brand of policy and politics journalism, so it’s managed churn and avoided the impact of the Trump bump. Macdonald discusses subscriptions, Trump bump and more on this week's podcast.
On this week’s Digiday Podcast, Spirited Media’s Jim Brady talks about building a local news media business that's sustainable. The key to economic success for Spirited Media lies in a scaled events business rather than the display advertising relied on by most publishers in local news markets.
On this week’s Digiday Podcast, Quartz’s co-president and editor-in-chief Kevin Delaney defended the advertising business model and discussed the pivot to video, venturing into lifestyle and more.
As TV media networks continue to get pulled into the digital and social ecosystems, Facebook's growing video demands and efforts to become a giant video platform seem like a threat to TV's ad dollars. On this week's Digiday podcast, Howard Shimmel, chief research officer at Turner, argued that Facebook and TV exist in different spaces and Facebook can't compete with TV on ad viewability, impressions and other metrics.
On this week's Digiday Podcast, CEO and co-founder of Business Insider Henry Blodget said the publisher, which has over 10 million followers across social media platforms, is not trying to grow reach anymore. As the publisher's focus shifts to deepened engagement and frequency, it faces questions: whether an ad-driven model is better than a subscription model, how to monetize social and web video and how to approach the ever-growing need for video on platforms. Blodget answers these questions and more in the episode.
The answer to digital and social audience growth challenges for Colby Smith, vp of ABC News Digital, is to follow the audience. Since adopting this approach two years ago, the news network's digital division has produced content across all major social and digital platforms and seen convincing results. Smith discusses that and more on this week's Digiday Podcast.
Last year, Univision acquired The Onion under its Fusion Media Group division. Since then, The Onion and Gizmodo Media Group combined their sales operations. On this week’s Digiday Podcast, The Onion’s president and CEO Mike McAvoy said the consolidation has grown its reach, allowing it to sell more branded content.
Two years ago, NBCUniversal restructured its sales team. Allison Tarrant, executive vp of client partnerships at NBCUniversal said the change affected cross-divisional business approach for client partnerships. Tarrant joins the Digiday podcast to talk about what has changed in the approach and the results.
While Conde Nast publishes on Facebook, Snapchat and other platforms, YouTube remains an important platform to them for their premium content. Croi Mcnamara discusses this and more on the Digiday Podcast.
Tastemade now boasts 2 billion video views a month, across platforms like Facebook, Snapchat and Instagram. While the company made its name in food -- think hands assembling dishes -- Tastemade plans to expand the brand further into lifestyle, including travel.
Former Droga5 president Andrew Essex believes the old model of putting logos in places and hoped they get noticed is over. Instead brands will need to be woven into experiences and content, a model he's applying in growing Tribeca beyond a standard film festival.
Luma Partners founder Terence Kawaja sees the duopoly as real, but that doesn't mean there's no opportunities in digital media outside Google and Facebook. By his math, Google and Facebook will take two-thirds of a $100 billion market, leaving plenty behind for newcomers to fight over.
Ben Lerer discusses the state of media from the Riviera on this edition of the Digiday Podcast.
News UK's chief operating office David Dinsmore discusses the state of media on this edition of the Digiday Podcast.