Time Inc.'s mobile audience, digital ad revenue spike with innovation
Time Inc. has succeeded in growing its audience and digital footprint with a 29 percent increase in unique mobile visitors, but overall revenue is down by $4 million from the same quarter last year.
The media company is seeing a 57 percent increase in unique video viewers year-over-year and a social footprint jump of 37 percent. 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mobile much greater in its overall strategy, which is likely assisting its growth and helping it gain an edge on outdated competitors, but its aggressive approach and numerous acquisitions have caused a one percent drop in revenue.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 organizations 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 percent 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 $6 million driven by mobile and digital video ads as well as an acquisition of Viant, an advertising technology developer.
Time Inc. is now seeing the largest reader base it has ever had by introducing the wide-range of digital platforms, brands and capabilities.
For instance, the brand recently capitalized on the cultural obsession over breakfast and brunch by introducing a new digital-first editorial brand, Extra Crispy, which contains its own social media accounts and features millennial-friendly, snackable content such as recipes, trends and influencer stories (see more).
Also, Time Inc. took a mobile-first stance on two new Web sites that focus on beauty and career content, furthering the brand's appeal to women (see more).
The innovative platforms and niche brands help Time Inc. stand out in the overloaded industry and appeal to the distracted consumer. More traditional publication brands are having difficulty navigating these new waters and should follow Time Inc.?s lead in breaking down silos and evolving with technology and consumer behavior.
"Time INCs growth and future forwarding strategies will keep them a step ahead of their competitors if others aren't paying attention," Ms. Troutman said. "The world of IoT is moving faster than any other medium has ever done globally."