Ripp, who returned to Time Inc. after an absence of 14 years, exhorted media brands across the world to “look forward and see the opportunities in front of them,’ and not to be intimidated by them.”
He claims that “there is so much bad content out there, that quality content (as delivered by the company's numerous brands), will win through and engage readers.”
Ripp does acknowledge that company, which boasts 120 print monthly readers, 155 million digital readers and runs 600 annual events, faces some serious challenges. The key one being the growth of mobile, which he describes as “a medium not especially suited to delivery of advertising messages.” He also added that mobile had played a part in further reducing the average attention span of a human to “just eight seconds in 2013 one second less than a goldfish”.
Changing the culture
However, Ripp sees the way that brands can continue to grow and thrive is if they focus on changing the culture of their companies. Stressing that he thinks that ‘culture trumps strategy’ Ripp then explained how Time Inc. regularly has brainstorming sessions with its youngest and most idealistic staff under the banner of Media Upstarts.
“They don't know why it won't work,” he says. “They are not jaded by the changes, but very excited about opportunities and where we can go. Tapping into that mindset is how you go for transformation.”
Ripp then dissected how his company has begun to engineer that change in the last few years.
“There’s no silver bullet,” he argues. “We live in a time of continuing turbulence, disruption and change Instead we enhanced our core business and asked how we can extend their reach and find new ways of monetising them.”
Ripp highlighted native advertising, optimising content for mobile devices, the importance of data (which Ripp argues will define much that that company does), live events (the company has recently acquired new businesses in this space) as being at the core of the new Time Inc.
Admitting that there is “still plenty of interest in paper products, just not as much as before,” Ripp went on to outline an integrated approach driven by digital products that he believes will excite brand CMOs - people who he believes are struggling to find digital solutions for their marketing issues.
He then talked about the importance of investment in media properties. “To grow companies requires intelligent risk taking and investment yet we must protect our cash flows,” he adds.
Ripp finished his presentation by challenging the publishing industry to think differently about how they harnessed technology. He pointed out that when the iPad launched many companies simply produced PDF magazines for the device – a move which he describes as attaching a horse to a car.
He then issued a challenge to the delegates stressing that his business was open to discussion, partnerships and more. There are likely to be many people who are willing to talk with him.
More like this
FIPP and VDZ’s Digital Innovators’ Summit 2018 takes place Monday 19 and Tuesday 20 in Berlin. If you were unable to make it to Berlin, here are some ways you can follow news from there.18th Mar 2018 FIPP News
FIPP Insider is an opportunity to learn, share intelligence and network with media colleagues. It is an investment of only a few hours out of the office for what could make a world of difference in your business tomorrow.7th Mar 2018 FIPP News
The 6th FIPP Asia international conference and exhibition will take place from 14 to 16 September 2018 in Wuhan, China, co-hosted by FIPP, the China Periodicals Association and the Hubei Administration.25th Feb 2018 FIPP News
It’s been another year of rapid change and innovative publishers continue to assemble a quiver full of new solutions to drive their businesses forward – something that becomes apparent when you page through the new 2018/19 edition of Innovation in Magazine Media 2018-2019 World Report, launched today at Digital Innovators’ Summit (DIS) in Berlin.19th Mar 2018 Features
From being described as an “internet midget” losing hundreds of millions a mere 17 years ago, Axel Springer managed to rebuild itself into a digital publishing powerhouse. Dr. Andreas Wiele, President Classifieds and Marketing Media at Axel Springer, Germany, explains how the German media giant faced off a near death experience.20th Mar 2018 Features
Maureen Hoch, editor of Harvard Business Review’s HBR.org on Monday provided insight into the experimental work HBR has been doing with new media formats in the past year to reach and engage audiences, including subscribers, in new ways.19th Mar 2018 Features
In a world where content distribution has gone digital, we are witnessing the death of industrial marketing - paving the way for the Amazonification of media: a digital environment were the gap between inspiration and transaction will be closed down almost completely, says Troy Young, Global President, Hearst Digital Media, USA.19th Mar 2018 Features
With countless publishing brands battling to maintain cash-flow and build a solid business model, many are pinning their hopes on building subscription businesses. During this week’s Digital Innovators’ Summit (DIS) in Berlin the topic proved to be a recurring theme.20th Mar 2018 Features
Visit our Youtube channelFIND OUT MORE
FIPP newsletters allow you to keep up with industry trends, research, training and events across the worldFIND OUT MORE
Get global coverage of your launches, company news and innovationsFIND OUT MORE
What’s happening now, what’s coming next