Time Inc.’s mobile audience, digital ad revenue spike with innovation
The media company is seeing a 57 per cent increase in unique video viewers year-over-year and a social footprint jump of 37 per cent. Time Inc. has been valuing mobile much greater in its overall strategy, which is likely assisting its growth and helping it gain an edge on outdated competitors, but its aggressive approach and numerous acquisitions have caused a one per cent drop in revenue.
“Mobile is definitely helping Time INC reinvent itself as a new media company,” said Marci Troutman, CEO of SiteMinis. “Other media companies should keep an eye on their strategies for engaging the millennials and future generations by understating the fast pace of technology and staying relevant within the space.”
Many organisations discuss breaking down silos within a business structure to help adapt to the modern, multichannel industry of today, but few have accomplished it. Time Inc. has worked to segregate these factors, and has seen results in the consumer-facing space as a result.
However, Time Inc. did see a one per cent decrease in revenue compared to last year’s second quarter thanks to a decrease in print success, which is reflective of the loss of interest in print media. The media brand has invested much more in digital and mobile platforms to help offset this but the cost of the multiple acquisitions has slowed its revenue.
Advertising revenue increased by $6m driven by mobile and digital video ads as well as an acquisition of Viant, an advertising technology developer.
Time Inc. is a member of FIPP.
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