New York, May 26, 2015 - Time Inc. (NYSE:TIME) announced today that it has acquired Missouri-based FanSided, a sports, entertainment and lifestyle network of more than 300 websites with thriving communities. Launched in 2009, FanSided is one of the industry's fastest growing independent digital content networks
Time Inc. Chairman and CEO, Joe Ripp said, "Our results and financial performance reflect progress in the fundamental re-engineering of our business, and in re-positioning the company for its return to growth. At the center of that transformation are Time Inc.'s extraordinary portfolio of media brands, engaged audiences and powerful story-telling.
Time Inc.'s Southern Living released a new recipe app through the digital publishing platform 29th Street Publishing. The app, Southern Living Seasonal Recipes, was released at the end of March with little fanfare from Time Inc.
The app is exclusive to the Apple Newsstand, and is free of charge to download and access the monthly issues - and because of its publishing platform choice, the app works well on both the iPhone and iPad, in portrait and landscape (landscape is very important for cooks as most device stands work in landscape).
With newsstand and ad page sales ever on the decline, magazine companies looking to monetize the influence of their brands are test driving tiered-subscription models that offer the most loyal readers increased access to the editors who create the glossies they read and the celebrities who appear in them.
At Time Inc., People magazine launched its premium subscription plan in Sept. 2013, with two levels above its print or digital-only subscription deals: customers who sign up for the "all-access" tier get access to the print and digital editions of the magazine
It's clear that the business of magazines is under pressure, but they continue to exert an outsized influence on culture, food, politics and more. Despite the business challenges, they're still sexy. Articles become movies and editors become celebrities. A short blurb turns a product into a sensation. Making a magazine's best-of list fills restaurants' reservations. And if a magazines gets a big story wrong, the ripples can quickly become a tidal wave.
Meanwhile, many of the world's biggest brands want to see their ads in print, where advertising actually enhances the overall experience.
Time Inc. will test paywalls on its magazine websites next year and finish a review of its portfolio that could result in the sale of certain titles, Chairman-CEO Joe Ripp said during a call Tuesday to explain the company's third-quarter results. "We are in the process of looking at everything we have and trying to figure out, is there ways for us to make them more valuable than they are today?" Mr. Ripp said.
As the realignment of the publishing industry continues, a new normal seems to have emerged: one in which tenacious publishers must consistently create entirely new sources of revenue and extend their brands into new, profitable territory. In recent years, publishers have repurposed their content into new formats (ebooks, TV, streaming video, podcasts), launched thought-leader conferences and enthusiast events, and developed direct-to-consumer or affiliate ecommerce platforms. These nontraditional ventures have become nearly as important to publishers as the ad sales and subscription revenue they once relied on almost exclusively.
Time Inc.'s transition in early June from a magazine company owned by the media conglomerate Time Warner to a publicly held independent publishing company may confirm both the sad state of print and yet, at the same time, its particular attractiveness.
Time Warner doesn't want Time Inc., but there are many savvy buyers who do.
I can still remember how jealous I felt. It was the mid-1990s, and I was a reporter at Inc. magazine in Boston. At Inc., we had just convinced our owner to cough up a few dollars for me and one other editor to launch Inc.com -- in our spare time. But here I was, high above the ground in a mid-town skyscraper that Henry Luce built, and a fellow by the name of Bruce Judson was about to show me Time Warner's $100-million investment in a new media division.
The spinoff of Time Inc. to create the world’s largest publicly traded magazine publisher may be just the beginning of deals for the owner of People and Sports Illustrated.
With analysts estimating an enterprise value of about $3.9 billion, Time Inc. would be bigger than any other publicly held company focused on magazine publishing after it separates from Time Warner Inc., according to data compiled by Bloomberg. Following a failed attempt to divest some magazines to Meredith Corp. (MDP), Time Inc. could buy Meredith, which is half its projected size, to consolidate costs, said Wunderlich Securities Inc.