Press Release: Meredith Invests in Future of Video Technology to Power Live and Virtual Reality Content Production And Distribution
NEW YORK, NY (July 18, 2016) — Meredith Corporation (NYSE:MDP; www.meredith.com), the nation's leading media and marketing company serving 102 million unduplicated U.S. women, today announced its continued investment in video technology as a key component of its editorial content and business strategy.
Meredith is among the first major media companies to execute a dedicated video strategy and programming schedule that encompasses live, 360° and virtual reality video experiences. To date, Meredith has aired more than 26 live experiences on Facebook Live, generating more than 8.2 million views and significant consumer engagement.
Meredith’s video strategy spans the company’s diverse portfolio of premium content brands, including Martha Stewart Living/Martha Stewart Weddings, Better Homes and Gardens, Parents, Shape and Allrecipes, all going live regularly via Facebook. Martha Stewart Living was the first to go live for Meredith, and the brand’s single broadcast, “Easter Egg Decorating,” reached an audience over one million and generated over 14,000 user engagements. Live and 360° videos provide Meredith’s audience with new ways to experience the publisher’s high-quality content, from behind-the-scenes looks at the Better Homes and Gardens test kitchen to working out live with Shape experts to getting inspiration for holiday decorations and entertaining from Martha Stewart Living.
“While many players are just starting to experiment with live video and virtual reality, Meredith already has its expertise and strategy in place and is executing against it,” said Melinda Lee, SVP/GM, Meredith Video. “Having the right technology is a critical part of our strategy, and something we are heavily invested in, from custom-built cameras to our state-of-the-art studios to the expertise we’ve developed within our 30-person video production team to create new, immersive experiences for our audience.”
As part of its commitment to video innovation, Meredith has dedicated an entire studio in its New York City offices to new format production, including live, virtual reality, and 360° video. Meredith has also worked with technology partners to custom-build virtual reality cameras and 360° equipment to support its new slate of immersive video content. Meredith’s studios in New York City and Des Moines are currently shooting live videos regularly, and Meredith’s Seattle studio is in the process of being outfitted for regular live production later this summer.
“As social platforms continue to migrate toward video, we’re focused on creating content tailored to each platform, from Facebook and Facebook Live to Instagram and Snapchat,” said Matt Minoff, SVP of Digital Strategy and Platforms, Meredith Corp. “The investments we’ve made in video production, technology and distribution are generating greater engagement from our users and creating exciting new integration opportunities for our advertisers.”
Led by Martha Stewart Living and Martha Stewart Weddings, Meredith’s Facebook Lives are already creating new revenue opportunities including the integration of advertisers such as ARM & HAMMERTM Baking Soda & Hammer and Reynolds Consumer Products directly into the content.
“Meredith is helping us engage millennial women in a new, forward-thinking way,” Jennette Offenberg, Brand Manager, ARM & HAMMER™ Baking Soda. “They are thinking about video holistically -- from highly produced branded entertainment to the raw immediacy of live and its immersive nature.”
About Meredith Corporation
Meredith Corporation (NYSE: MDP; www.meredith.com) has been committed to service journalism for more than 110 years. Today, Meredith uses multiple distribution platforms - including broadcast television, print, digital, mobile, tablets and video - to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners.
Meredith's National Media Group reaches a multi-channel audience of 220 million consumers monthly, including more than 102 million unduplicated American women and over 75 percent of U.S. Millennial women. Meredith is the leader in creating content across media platforms in key consumer interest areas such as food, home, parenthood and health through well-known brands such as Better Homes and Gardens, Parents, Shape and Allrecipes among others. The National Media Group features robust brand licensing activities, including more than 3,000 SKUs of branded products at 4,000 Walmart stores across the U.S. Meredith Xcelerated Marketing (MXM) is a leader at developing and delivering custom content and customer relationship marketing programs for many of the world's top brands, including Kraft, Lowe's and Chrysler.
Meredith's Local Media Group includes 17 owned or operated television stations reaching 11 percent of U.S. households. Meredith's portfolio is concentrated in large, fast-growing markets, with seven stations in the nation's Top 25 - including Atlanta, Phoenix, St. Louis and Portland - and 13 in Top 50 markets. Meredith's stations produce approximately 650 hours of local news and entertainment content each week, and operate leading local digital destinations.