Time CEO highlights 2024 successes and future goals in internal communication
In an internal communication sent to staff last week, Time CEO Jessica Sibley commended the organisation for its notable achievements in 2024, particularly during a pivotal election week, where the newsroom garnered its largest digital audience of the year. Sibley underscored the essential role that Time plays in providing trusted information during significant global events, reiterating the company’s commitment to its mission of informing its readership about the influential leaders shaping the world.
Sibley outlined Time’s strategic goal of achieving cash flow positivity by 2025, which she describes as crucial for ensuring the sustainability of the journalism which serves as the bedrock of the publication’s identity. Notably, she announced that the company’s Q4 cash flow has seen its best performance ever, attributing this success to the collective efforts of the Time team in recalibrating the business model and enhancing B2B revenue streams.
Throughout 2024, Time has made substantial strides in delivering impactful journalism that has resonated globally, showcasing high-profile interviews with leaders from various sectors.
Additionally, Sibley noted a significant transition towards a B2B revenue model, a strategic pivot from the previous consumer-focused approach. This shift has resulted in an 18% year-on-year revenue increase, driven in part by integrated sponsorships and strategic partnerships with notable companies such as Toyota, Merck, and Eli Lilly.
Time’s global events business has also witnessed considerable growth, with the company set to host a record 31 events this year, attracting over 30,000 attendees to date. A 15% increase in event revenue has been noted, with profit margins almost doubling since last year. The introduction of innovative event formats, such as the Leadership Forum series, has contributed to this success, alongside securing partnerships with high-profile brands including Nike and Delta.
In terms of branded content, Time integrated its Red Border Studios into Time Studios, unlocking new advertising opportunities and engaging with prominent partners like Amazon Studios. Their success was highlighted by a recent collaboration resulting in a CLIO Award-winning initiative, which underscored the brand’s creative prowess.
Time Studios has launched a series of highly-acclaimed projects in 2024, including works that debuted on major platforms such as Netflix and Amazon, further showcasing TIME’s capabilities in producing compelling media content.
On the technological front, Sibley detailed accessible advancements through new AI partnerships aimed at upscaling Time’s journalism in a rapidly evolving media landscape.
The company has also expanded the client-focused Time100 community, establishing niches such as the inaugural Time100 Health list and The Closers, which recognises leaders making strides in addressing the racial wealth gap. This builds upon a broader aim of expanding the company’s influence and reach.
As the announcement concluded, Sibley expressed gratitude for the team’s dedication to continuing the legacy of Time while looking forward to building on these achievements as the year draws to a close.
Curated, edited, and published by our team, with stories provided by the AI news platform, Noah Wire Services.
More on this and verification:
- time.com/7177787/times-b2b-revenue-strategy-drives-milestone-growth-in-2024/ – Corroborates TIME CEO Jessica Sibley’s internal communication about the company’s achievements in 2024, including the largest digital audience during election week and the strategic goal of achieving cash flow positivity by 2025.
