1 00:00:06,120 --> 00:00:10,120 Speaker 1: Thanks for tuning into another episode of Varieties Podcasts Strictly 2 00:00:10,200 --> 00:00:12,520 Speaker 1: Business when we talked to some of the brightest minds 3 00:00:12,520 --> 00:00:15,640 Speaker 1: working in media today. I am Varieties co editor in 4 00:00:15,720 --> 00:00:18,960 Speaker 1: chief Andrew Wallace. I would have once said, my next 5 00:00:19,040 --> 00:00:22,040 Speaker 1: guest works at a magazine company, the biggest one in 6 00:00:22,040 --> 00:00:25,440 Speaker 1: the US at that, But the multimedia world the Meredith 7 00:00:25,480 --> 00:00:29,240 Speaker 1: Corporation operates in today positions them more as a steward 8 00:00:29,240 --> 00:00:31,560 Speaker 1: of some great brands that may have the gun life 9 00:00:31,560 --> 00:00:34,960 Speaker 1: in print, but now are so much more. John Warder 10 00:00:35,080 --> 00:00:39,199 Speaker 1: is president of Meredith National Media Group to overseas titles 11 00:00:39,240 --> 00:00:42,000 Speaker 1: like Travel and Leisure, Eating well now thanks to the 12 00:00:42,040 --> 00:00:46,519 Speaker 1: acquisition of Time Inc. Yet more brands like People Magazine. 13 00:00:48,720 --> 00:00:50,840 Speaker 1: Thanks for sitting down with me, John, great to be here. Andrew, 14 00:00:50,840 --> 00:00:53,960 Speaker 1: thanks for having me. So I'd like to start with Time. 15 00:00:54,720 --> 00:00:57,760 Speaker 1: Meredith swallowed a pretty big fish there. I would imagine 16 00:00:57,800 --> 00:01:01,720 Speaker 1: that is disruptive for a company. It's a lot to 17 00:01:01,800 --> 00:01:05,280 Speaker 1: take in. So talk about the integration process. I would 18 00:01:05,319 --> 00:01:08,760 Speaker 1: imagine it's a lot. Uh, The integration processes has been 19 00:01:08,760 --> 00:01:10,720 Speaker 1: a lot, but it's going very very well and we're 20 00:01:10,720 --> 00:01:14,120 Speaker 1: really happy, um and and pleased with the opportunities that 21 00:01:14,240 --> 00:01:17,400 Speaker 1: these two great companies coming together not only afford us 22 00:01:17,440 --> 00:01:20,320 Speaker 1: as a combined business, but obviously afford the marketplace as 23 00:01:20,319 --> 00:01:24,399 Speaker 1: well from an advertising perspective. Uh, we really have a 24 00:01:24,600 --> 00:01:27,720 Speaker 1: very very complementary set of capabilities, and as we looked 25 00:01:27,760 --> 00:01:31,600 Speaker 1: at opportunities in the marketplace, we really concluded that the 26 00:01:31,640 --> 00:01:34,720 Speaker 1: best way we could check all the boxes that we 27 00:01:34,760 --> 00:01:37,480 Speaker 1: wanted to check and deliver all the capabilities that we 28 00:01:37,520 --> 00:01:40,800 Speaker 1: wanted to deliver to consumers and two advertisers was bringing 29 00:01:40,800 --> 00:01:43,720 Speaker 1: these two great companies together. So the integration has gone 30 00:01:43,800 --> 00:01:46,679 Speaker 1: very very well. We've one of the first things we 31 00:01:46,720 --> 00:01:49,760 Speaker 1: did was we aligned our salesforces together and I aligned 32 00:01:49,760 --> 00:01:52,000 Speaker 1: our go to market and we continue to see the 33 00:01:52,680 --> 00:01:55,880 Speaker 1: benefits of that work, and we're getting great response from 34 00:01:55,920 --> 00:01:58,840 Speaker 1: the marketplace um regarding that go to market and how 35 00:01:58,840 --> 00:02:02,400 Speaker 1: we're really a lining all of our capabilities and teams 36 00:02:02,440 --> 00:02:06,200 Speaker 1: to superserve our clients. Before we dig into that integration, though, 37 00:02:06,240 --> 00:02:10,440 Speaker 1: you also sold off some brands like tim Ink and 38 00:02:10,520 --> 00:02:14,680 Speaker 1: sorry not Timing Time magazine. What was the decision? What 39 00:02:14,720 --> 00:02:17,200 Speaker 1: was the filter you guys are applying in terms of 40 00:02:17,200 --> 00:02:19,560 Speaker 1: what stays or goes well. I think it's a couple 41 00:02:19,600 --> 00:02:22,360 Speaker 1: of things. First, and foremost, we are going to continue 42 00:02:22,360 --> 00:02:28,400 Speaker 1: to focus on our core entertainment, family, food, lifestyle, UH 43 00:02:28,400 --> 00:02:31,040 Speaker 1: and home brands, and that's always been our our focus 44 00:02:31,040 --> 00:02:33,160 Speaker 1: and we're going to continue to double down there. I 45 00:02:33,200 --> 00:02:35,959 Speaker 1: think for some of these assets, as we looked at them, 46 00:02:36,400 --> 00:02:39,000 Speaker 1: we really felt they weren't UM in part cord our 47 00:02:39,040 --> 00:02:41,880 Speaker 1: strategy going forward Number one and number two, we felt 48 00:02:41,919 --> 00:02:45,960 Speaker 1: that there were other companies or owners of these brands 49 00:02:46,040 --> 00:02:50,280 Speaker 1: that would be able to UM really focus on them 50 00:02:50,520 --> 00:02:53,120 Speaker 1: UH and lean into them from an investment perspective and 51 00:02:53,200 --> 00:02:56,079 Speaker 1: from a operational perspective in a way that would be 52 00:02:56,120 --> 00:02:59,840 Speaker 1: the best for that brand. I mean that core business 53 00:02:59,840 --> 00:03:03,160 Speaker 1: I referred to off the top magazines tough times. Just 54 00:03:03,280 --> 00:03:06,120 Speaker 1: today we saw some big moves at Hearst Corporation that 55 00:03:06,200 --> 00:03:10,040 Speaker 1: we're reflective of that. What is the general attitude though 56 00:03:10,080 --> 00:03:12,280 Speaker 1: at Meredith. Do you think there's still a lot of 57 00:03:12,400 --> 00:03:16,040 Speaker 1: life in print? I know we're sitting at a conference 58 00:03:16,080 --> 00:03:18,280 Speaker 1: where you talked a lot about video, but I'm just 59 00:03:18,320 --> 00:03:21,440 Speaker 1: curious what the philosophy is of that core business. Absolutely, 60 00:03:21,440 --> 00:03:23,120 Speaker 1: and we think there's still a lot of life left 61 00:03:23,120 --> 00:03:24,639 Speaker 1: in print. And remember, at the end of the day, 62 00:03:24,639 --> 00:03:28,360 Speaker 1: we're a portfolio of brands, and we want our brands 63 00:03:28,400 --> 00:03:30,720 Speaker 1: and our content and our products to be wherever consumers 64 00:03:31,040 --> 00:03:32,840 Speaker 1: want them to be. Print is one of our our 65 00:03:32,880 --> 00:03:35,600 Speaker 1: key channels, so to his digital, so to his video, 66 00:03:35,680 --> 00:03:39,400 Speaker 1: so to his connected devices and appliances and cars, so 67 00:03:39,480 --> 00:03:42,480 Speaker 1: to his social. And so we reach a hundred and 68 00:03:42,520 --> 00:03:46,000 Speaker 1: seventy five million consumers every month across our channels, reach 69 00:03:46,040 --> 00:03:49,240 Speaker 1: a hundred forty million. In digital we reach two hundred 70 00:03:49,240 --> 00:03:51,600 Speaker 1: and sixty five million, and social we have forty five 71 00:03:51,680 --> 00:03:55,200 Speaker 1: million paid subscribers. And we really have a very diversified 72 00:03:55,240 --> 00:03:59,680 Speaker 1: business UH that really looks to optimize all of our brands. 73 00:03:59,720 --> 00:04:02,720 Speaker 1: From a three and sixty degree perspectives, scale is great. 74 00:04:03,160 --> 00:04:06,320 Speaker 1: What I'm curious though, is how do you differentiate yourself 75 00:04:06,320 --> 00:04:09,240 Speaker 1: in terms of the quality of that audience? What what 76 00:04:09,400 --> 00:04:12,760 Speaker 1: demos are you focusing on? So, from a demo perspective, 77 00:04:12,880 --> 00:04:16,240 Speaker 1: we have obviously a very strong reach against women overall. 78 00:04:16,760 --> 00:04:20,960 Speaker 1: We reach more than of of all United States women, 79 00:04:21,200 --> 00:04:24,240 Speaker 1: we reach more than of all millennial women, we reach 80 00:04:24,279 --> 00:04:27,440 Speaker 1: more than of all latinas, and we have not insignificant 81 00:04:27,440 --> 00:04:30,760 Speaker 1: reach against male audiences as well. UH. So, as you, 82 00:04:30,920 --> 00:04:34,200 Speaker 1: as you say, scale is uh is great. What we 83 00:04:34,680 --> 00:04:38,040 Speaker 1: really are though, is scale with precision, UH, Scale with 84 00:04:38,080 --> 00:04:41,599 Speaker 1: precision in terms of the insights and analytics that we 85 00:04:41,680 --> 00:04:44,520 Speaker 1: bring to bear from a first party data perspective that 86 00:04:44,600 --> 00:04:49,120 Speaker 1: can not only shape the media plans and media opportunities 87 00:04:49,160 --> 00:04:52,520 Speaker 1: that are advertising clients and the agencies that represent them 88 00:04:53,320 --> 00:04:56,880 Speaker 1: run with us, but also inform strategic decisions for our clients, 89 00:04:56,880 --> 00:05:01,159 Speaker 1: like product portfolio decisions, because we understand our consumers to 90 00:05:01,200 --> 00:05:06,240 Speaker 1: a very UH deep level UH and that understanding informs 91 00:05:06,240 --> 00:05:08,560 Speaker 1: our own decisions in terms of the content we create, 92 00:05:08,600 --> 00:05:11,520 Speaker 1: the products we develop, the new businesses that we enter, 93 00:05:11,920 --> 00:05:15,960 Speaker 1: and it's really helped us diversify our revenue. So whereas 94 00:05:16,000 --> 00:05:20,000 Speaker 1: print advertising is still a fairly significant UH percentage of 95 00:05:20,040 --> 00:05:24,000 Speaker 1: our ad revenue, digital ad revenues growing um to a 96 00:05:24,080 --> 00:05:27,960 Speaker 1: very significant instant and our consumer revenue continues to grow 97 00:05:28,000 --> 00:05:33,040 Speaker 1: as well, particularly in in newer areas like commerce, affiliate marketing, 98 00:05:33,120 --> 00:05:36,560 Speaker 1: brand licensing, etcetera. And so we continue to focus on 99 00:05:36,640 --> 00:05:40,680 Speaker 1: advertising and diversifying to more premium forms of revenue that 100 00:05:40,760 --> 00:05:44,520 Speaker 1: leverage our brands are insights and our technology platforms, and 101 00:05:44,600 --> 00:05:47,640 Speaker 1: same thing on the consumer side, more more profitable and 102 00:05:47,680 --> 00:05:51,680 Speaker 1: premium forms of consumer revenue generation that still are a 103 00:05:51,760 --> 00:05:58,160 Speaker 1: complement to our traditional historical print advertising and print magazine 104 00:05:58,160 --> 00:06:02,400 Speaker 1: subscription businesses and or video, which is where you're taking 105 00:06:02,400 --> 00:06:07,440 Speaker 1: these brands that for many years, over over a century, 106 00:06:07,680 --> 00:06:12,160 Speaker 1: Met Meredith goes back, are entrenched in consumer minds at 107 00:06:12,160 --> 00:06:16,480 Speaker 1: a certain older demographic as print and so I'm curious 108 00:06:16,480 --> 00:06:18,960 Speaker 1: to me, it's the biggest challenge of all how you 109 00:06:19,040 --> 00:06:22,919 Speaker 1: translate these to a different medium, to a different audience. 110 00:06:23,279 --> 00:06:26,640 Speaker 1: Some might suggest it's not even possible. Well, it is possible, 111 00:06:26,640 --> 00:06:28,320 Speaker 1: and we do it every day. And it's important point. 112 00:06:28,320 --> 00:06:30,640 Speaker 1: You're raising really the contents to be created for the 113 00:06:30,720 --> 00:06:32,680 Speaker 1: channel in which you're reaching the consumer and for the 114 00:06:32,720 --> 00:06:36,880 Speaker 1: consumer UH segment that you're reaching, and so we've really 115 00:06:36,960 --> 00:06:40,560 Speaker 1: focused on creating all of our content and particular video 116 00:06:40,600 --> 00:06:42,720 Speaker 1: content for the right channel. And one of the things 117 00:06:42,800 --> 00:06:46,719 Speaker 1: we announced that our recent UH new front was leaning 118 00:06:46,720 --> 00:06:52,920 Speaker 1: into things like Instagram, TV and live video content really 119 00:06:52,960 --> 00:06:56,320 Speaker 1: anchored around not only the People brand from an entertainment perspective, 120 00:06:56,680 --> 00:06:59,159 Speaker 1: but also our other brands from a food, home and 121 00:06:59,360 --> 00:07:02,400 Speaker 1: lifestyle for serspective. And we really want to be again 122 00:07:02,400 --> 00:07:06,800 Speaker 1: where the consumer is and are owned and operated. Audience 123 00:07:07,600 --> 00:07:11,080 Speaker 1: accesses Instagram thirty times a day, and so we feel 124 00:07:11,080 --> 00:07:14,560 Speaker 1: that there's an opportunity with our Instagram specific Instagram TV 125 00:07:15,240 --> 00:07:19,680 Speaker 1: video assets, which are configured and created for that platform specifically, 126 00:07:20,040 --> 00:07:22,680 Speaker 1: is a great way to superserve that audience and appeal 127 00:07:23,120 --> 00:07:25,400 Speaker 1: to newer audiences that may not be as familiar with 128 00:07:25,480 --> 00:07:28,880 Speaker 1: our brands and super served. You are, I mean ten 129 00:07:29,040 --> 00:07:32,560 Speaker 1: series coming to I G t V, and I get 130 00:07:32,600 --> 00:07:37,000 Speaker 1: what you're saying. There's a natural evolution of your heavy 131 00:07:37,040 --> 00:07:40,880 Speaker 1: Instagram user based checking out I G t V. Nevertheless, 132 00:07:40,880 --> 00:07:43,960 Speaker 1: you're not starting with one. You're You're You're doing ten 133 00:07:44,280 --> 00:07:47,520 Speaker 1: and you know, I've spoken to publishers and the like 134 00:07:47,720 --> 00:07:50,480 Speaker 1: who have suggested that there's a lot of hype around 135 00:07:50,560 --> 00:07:54,360 Speaker 1: i G TV, but also it's so early that they're 136 00:07:54,360 --> 00:07:57,000 Speaker 1: not sure what to make of it. Well, when we 137 00:07:57,080 --> 00:08:01,280 Speaker 1: decide to explore UM different district aribution platforms and channels, 138 00:08:01,280 --> 00:08:02,760 Speaker 1: we do it with the purpose and we do it 139 00:08:02,800 --> 00:08:05,480 Speaker 1: with the notion that we want to deliver content to 140 00:08:05,560 --> 00:08:08,080 Speaker 1: consumers where they want to consume it. We want to 141 00:08:08,160 --> 00:08:11,200 Speaker 1: learn together UM, with those consumers and with our partners 142 00:08:11,240 --> 00:08:13,960 Speaker 1: what's working UM and ultimately use that as a foundation 143 00:08:14,000 --> 00:08:16,840 Speaker 1: to create to continue to create even better content UM 144 00:08:16,920 --> 00:08:19,640 Speaker 1: that ultimately grows with with the channel. We were one 145 00:08:19,680 --> 00:08:22,400 Speaker 1: of the first UM uh you know, publishers to lean 146 00:08:22,440 --> 00:08:24,480 Speaker 1: into and companies to lean to Facebook Live. It worked 147 00:08:24,480 --> 00:08:27,480 Speaker 1: really well for us. We continue to focus on ot T. 148 00:08:28,040 --> 00:08:32,760 Speaker 1: We continue to focus UM on connected devices UM you 149 00:08:32,760 --> 00:08:34,760 Speaker 1: know for all recipes. As an example, we were one 150 00:08:34,800 --> 00:08:38,040 Speaker 1: of the first Alexas skills. We have people content on 151 00:08:38,120 --> 00:08:42,120 Speaker 1: Echo show. So we really like to experiment UM with 152 00:08:42,200 --> 00:08:45,880 Speaker 1: a purpose with these newer UM and more emerging UH 153 00:08:45,920 --> 00:08:48,880 Speaker 1: distribution channels, which we found to really be effective in 154 00:08:48,920 --> 00:08:52,160 Speaker 1: terms of engaging the audiences we traditionally engage and would 155 00:08:52,200 --> 00:08:54,640 Speaker 1: also like to engage that we may not be UM. 156 00:08:54,679 --> 00:08:56,880 Speaker 1: It's front and center with today. When you made the 157 00:08:56,880 --> 00:09:00,680 Speaker 1: announcement about the I G t V shows at the 158 00:09:00,720 --> 00:09:04,880 Speaker 1: New Fronts West, you also talked about the expansion of 159 00:09:04,960 --> 00:09:09,440 Speaker 1: People People TV as an ot T brand. I was 160 00:09:09,480 --> 00:09:11,439 Speaker 1: also struck just as much as I was struck by 161 00:09:11,559 --> 00:09:15,560 Speaker 1: you know, the ten series move expanding to four live 162 00:09:15,760 --> 00:09:20,120 Speaker 1: hour seems to me unusually ambitious for O T T. 163 00:09:20,360 --> 00:09:23,120 Speaker 1: Where talk about early days, it's the earliest of early 164 00:09:23,400 --> 00:09:27,480 Speaker 1: We're exciting. We're seeing incredible engagement with the People brand 165 00:09:27,520 --> 00:09:30,760 Speaker 1: from a video perspective across channels. At the recent Royal 166 00:09:30,800 --> 00:09:33,760 Speaker 1: wedding a couple of months ago, we had seventy million 167 00:09:33,880 --> 00:09:37,000 Speaker 1: views of our coverage of that wedding over a seventy 168 00:09:37,040 --> 00:09:40,080 Speaker 1: two hour period. So we think there's a massive opportunity 169 00:09:40,160 --> 00:09:44,360 Speaker 1: with our entertainment brands in particular to really engage and 170 00:09:44,880 --> 00:09:49,480 Speaker 1: activate and monetize over time uh that uh, that audience 171 00:09:49,760 --> 00:09:52,400 Speaker 1: through the channel. So when you think about UM, you know, 172 00:09:52,440 --> 00:09:55,960 Speaker 1: People TV, we think it's an incredible opportunity. We're gonna 173 00:09:55,960 --> 00:09:59,480 Speaker 1: build on that foundation with People now with Chatter from 174 00:09:59,480 --> 00:10:02,720 Speaker 1: a daytime time and from a you know, a prime 175 00:10:02,760 --> 00:10:07,240 Speaker 1: time perspective, and then also other programming like Jess Kegel 176 00:10:07,280 --> 00:10:11,400 Speaker 1: Interview UM and Couch Surfing and Entertainment Weekly cast Reunions, 177 00:10:11,559 --> 00:10:14,000 Speaker 1: which we think, together with a hundred and twenty five 178 00:10:14,040 --> 00:10:18,720 Speaker 1: events that we also live stream UM each year, will 179 00:10:18,760 --> 00:10:21,480 Speaker 1: really give us an opportunity to take a leadership position 180 00:10:21,520 --> 00:10:25,440 Speaker 1: and be the de facto entertainment network for live streaming 181 00:10:25,440 --> 00:10:29,320 Speaker 1: and beyond. People is a pretty huge brand that came 182 00:10:29,320 --> 00:10:33,000 Speaker 1: over with the Timing acquisition. I get why if you're 183 00:10:33,000 --> 00:10:35,319 Speaker 1: going to go into the O T T space, best 184 00:10:35,360 --> 00:10:37,840 Speaker 1: to to lead with that are you thinking about it 185 00:10:37,840 --> 00:10:40,920 Speaker 1: in terms of your other brands, which are no slouches either, absolutely, 186 00:10:40,960 --> 00:10:42,280 Speaker 1: and so one of the things you'll see, and we 187 00:10:42,280 --> 00:10:44,040 Speaker 1: talked a little bit about this at the recent New Front, 188 00:10:44,120 --> 00:10:46,640 Speaker 1: is that we are going to UM and we already 189 00:10:46,640 --> 00:10:48,800 Speaker 1: have leaned into some of our other brands from an 190 00:10:48,800 --> 00:10:53,240 Speaker 1: OTT and live streaming perspective. Think of food, think of home, 191 00:10:53,760 --> 00:10:58,200 Speaker 1: think of lifestyle programming beyond entertainment, and those are some 192 00:10:58,240 --> 00:11:00,480 Speaker 1: of the things that you know we can tinue to 193 00:11:00,600 --> 00:11:04,000 Speaker 1: explore UM four brands like better Homes and Gardens for real, 194 00:11:04,080 --> 00:11:09,480 Speaker 1: simple all recipes, UM, et cetera. You also mentioned Alexa, which, 195 00:11:09,640 --> 00:11:12,240 Speaker 1: my god, we're in twenty eighteen, aren't we when we're 196 00:11:12,280 --> 00:11:16,439 Speaker 1: talking to publishers about what are you doing on voice products? 197 00:11:16,480 --> 00:11:19,440 Speaker 1: But do you see big opportunities there? Yeah, we're very 198 00:11:19,480 --> 00:11:21,800 Speaker 1: excited about it. We think it's a it's an emerging 199 00:11:22,160 --> 00:11:25,440 Speaker 1: channel for us. A significant percentage of searches today are 200 00:11:25,480 --> 00:11:28,240 Speaker 1: carried out through voice enabled devices, and we'll continue to 201 00:11:28,280 --> 00:11:31,160 Speaker 1: be UH done so that way. And we ultimately look 202 00:11:31,200 --> 00:11:35,520 Speaker 1: at our brands as UM providing very compelling and useful 203 00:11:35,520 --> 00:11:38,520 Speaker 1: content to help people look to achieve what they're trying 204 00:11:38,520 --> 00:11:40,520 Speaker 1: to achieve on a daily basis, or things that are 205 00:11:40,520 --> 00:11:44,800 Speaker 1: more aspirational. And voice enabled devices and connected appliances and 206 00:11:44,800 --> 00:11:48,000 Speaker 1: and cars are something that we continue to focus on 207 00:11:48,040 --> 00:11:50,080 Speaker 1: and believe will be a key part of our UM 208 00:11:50,120 --> 00:11:53,800 Speaker 1: engagement strategy going forward. Key part. You know, looking five 209 00:11:53,960 --> 00:11:56,080 Speaker 1: ten years down the road, do you see voices something 210 00:11:56,080 --> 00:11:59,520 Speaker 1: that could be as significant as video or print? Um, 211 00:11:59,559 --> 00:12:02,520 Speaker 1: it wouldn't surprised me. It's it's hard to uh, you know, 212 00:12:02,800 --> 00:12:04,920 Speaker 1: assess that it's still as you said, early days, but 213 00:12:05,000 --> 00:12:08,679 Speaker 1: it's something that that we're excited about. And UM we're 214 00:12:08,800 --> 00:12:15,520 Speaker 1: um um bullish on opportunities. In terms of the brands 215 00:12:15,559 --> 00:12:20,800 Speaker 1: that you have prior to the Timing acquisition, I'm curious, 216 00:12:21,520 --> 00:12:23,160 Speaker 1: is there any one of them that you think really 217 00:12:23,559 --> 00:12:28,040 Speaker 1: exemplifies what Meredith is able to do outside print? That's 218 00:12:28,040 --> 00:12:30,280 Speaker 1: a great question. I would say, not only outside print, 219 00:12:30,320 --> 00:12:31,840 Speaker 1: but within print as well. I'll give you a couple 220 00:12:31,880 --> 00:12:36,600 Speaker 1: of examples. First, UM, I would look to a brand 221 00:12:36,760 --> 00:12:41,440 Speaker 1: like All Recipes UM and brands like Better Homes and Gardens. 222 00:12:41,760 --> 00:12:45,160 Speaker 1: So Better Homes and Gardens. As an example, is UH 223 00:12:45,360 --> 00:12:49,439 Speaker 1: generates When Meredith is a company really generates UH, it's 224 00:12:49,480 --> 00:12:54,120 Speaker 1: the second largest UH company in terms of UH brand 225 00:12:54,200 --> 00:12:57,560 Speaker 1: licensed product retail sales after Disney and Better Homes and 226 00:12:57,600 --> 00:12:59,800 Speaker 1: Gardens is really the key to that. So when you 227 00:12:59,800 --> 00:13:02,360 Speaker 1: think about that for a second, it showcases the power 228 00:13:02,400 --> 00:13:06,720 Speaker 1: of that brand um to engage consumers and be monetized 229 00:13:06,760 --> 00:13:09,920 Speaker 1: outside of a print experience and outside of an advertising experience. 230 00:13:10,360 --> 00:13:13,160 Speaker 1: When you look at All Recipes, that was a digital 231 00:13:13,160 --> 00:13:16,480 Speaker 1: brand that was really desktop first when we we bought it, 232 00:13:16,760 --> 00:13:19,760 Speaker 1: we ultimately leaned into mobile madd a mobile first brand, 233 00:13:20,080 --> 00:13:24,160 Speaker 1: and we've taken that brand to connected devices, and we've 234 00:13:24,200 --> 00:13:26,559 Speaker 1: also taken it to print and it's been a really 235 00:13:26,600 --> 00:13:29,720 Speaker 1: successful print title for us and really helped us to 236 00:13:29,800 --> 00:13:34,320 Speaker 1: create an even greater sixty degree brand for consumers. And 237 00:13:34,360 --> 00:13:36,280 Speaker 1: then one other example in print we would we would 238 00:13:36,360 --> 00:13:40,080 Speaker 1: highlight as well is the Magnolia Journal, and that's a 239 00:13:40,160 --> 00:13:44,199 Speaker 1: brand where our partnership parameters are really within the print 240 00:13:44,280 --> 00:13:48,200 Speaker 1: medium alone, and that has been an incredible success for 241 00:13:48,280 --> 00:13:50,120 Speaker 1: us as a company. We've leaned into it from a 242 00:13:50,120 --> 00:13:52,960 Speaker 1: consumer revenue perspective and to a lesser degree from an 243 00:13:52,960 --> 00:13:56,559 Speaker 1: advertising perspective, and it's become one of the most profitable 244 00:13:56,559 --> 00:13:58,559 Speaker 1: brands in the hundred and sixteen year history of our 245 00:13:58,559 --> 00:14:02,000 Speaker 1: company within its first year of operation, and we're very, 246 00:14:02,080 --> 00:14:04,760 Speaker 1: very excited about that. So to your point, we think 247 00:14:04,800 --> 00:14:07,680 Speaker 1: for all of our brands, there are opportunities, whether it's 248 00:14:07,840 --> 00:14:12,640 Speaker 1: print advertising, digital advertising, newer premium forms of advertising, commerce, 249 00:14:12,720 --> 00:14:17,800 Speaker 1: affiliate marketing, brand licensing, lead generation, other forms of consumer 250 00:14:17,840 --> 00:14:20,800 Speaker 1: revenue like paid products and memberships that each one of 251 00:14:20,840 --> 00:14:25,800 Speaker 1: these core brands has the permission to play in and 252 00:14:25,880 --> 00:14:29,240 Speaker 1: to ultimately participate in as a brand in the marketplace. 253 00:14:29,240 --> 00:14:31,760 Speaker 1: And we're seeing a lot of success from all corners 254 00:14:31,760 --> 00:14:34,040 Speaker 1: of the media ecosystem with a lot of these, uh, 255 00:14:34,200 --> 00:14:37,080 Speaker 1: these brands that we have, whether they pre existed the 256 00:14:37,120 --> 00:14:39,800 Speaker 1: transaction with time or they joined the company as part 257 00:14:39,800 --> 00:14:45,640 Speaker 1: of our transaction. I get, you know, the the diversification 258 00:14:45,760 --> 00:14:50,320 Speaker 1: strategy here. I'm still curious that whether Meredith takes a 259 00:14:50,320 --> 00:14:53,440 Speaker 1: particular point of view with regard to the long term 260 00:14:53,560 --> 00:14:57,040 Speaker 1: viability of print. In other words, do you guys feel no, 261 00:14:57,240 --> 00:14:59,000 Speaker 1: ten years from now we still expect to be in 262 00:14:59,000 --> 00:15:01,440 Speaker 1: this business. We do, And I think remember we have 263 00:15:01,480 --> 00:15:03,320 Speaker 1: to look at print and that medium is one of 264 00:15:03,360 --> 00:15:06,320 Speaker 1: the channels in which we operate, and there is an 265 00:15:06,400 --> 00:15:09,400 Speaker 1: advertising component to that and a consumer revenue component to that. 266 00:15:09,840 --> 00:15:12,760 Speaker 1: And so we believe that you know, print is is 267 00:15:12,920 --> 00:15:15,960 Speaker 1: not going to disappear. We believe in it. We believe 268 00:15:15,960 --> 00:15:17,640 Speaker 1: it's one of the channels that we need to continue 269 00:15:17,680 --> 00:15:21,040 Speaker 1: to to operate in and that our consumers really enjoy 270 00:15:21,320 --> 00:15:24,200 Speaker 1: that channel. Um. And what's going to be interesting is 271 00:15:24,240 --> 00:15:28,840 Speaker 1: now gen zers enter the life stages that we serve. 272 00:15:29,240 --> 00:15:32,720 Speaker 1: They're getting their first place to live, they're moving out 273 00:15:32,720 --> 00:15:35,320 Speaker 1: on their own, they're finishing school, they're getting their first job, 274 00:15:35,680 --> 00:15:38,280 Speaker 1: they're thinking about getting married, They get married, they have 275 00:15:38,320 --> 00:15:41,600 Speaker 1: a kid. Though, all of those stages people are entering in. 276 00:15:41,640 --> 00:15:44,800 Speaker 1: And what we're seeing is that there's still a role 277 00:15:44,880 --> 00:15:48,400 Speaker 1: for all of our media in those life stages. UM. 278 00:15:48,480 --> 00:15:52,080 Speaker 1: And so that's exciting to us. What you're saying almost 279 00:15:52,080 --> 00:15:54,040 Speaker 1: brings to mind. I believe it was the new owner 280 00:15:54,040 --> 00:15:58,160 Speaker 1: of the Los Angeles Times, likening print of record Vinyl 281 00:15:58,760 --> 00:16:02,440 Speaker 1: that still has a place the table. Would you? I 282 00:16:02,520 --> 00:16:05,040 Speaker 1: think to me, Vinyl is a little more niche than 283 00:16:05,080 --> 00:16:07,560 Speaker 1: I would expect, you know, print to be. Um. We're 284 00:16:07,560 --> 00:16:10,000 Speaker 1: seeing and I mean, some of our most engaged audiences 285 00:16:10,080 --> 00:16:14,960 Speaker 1: are leading and trailing millennials, UM with that medium. UM. 286 00:16:15,080 --> 00:16:18,120 Speaker 1: So I to me, I look at Vinyl and I 287 00:16:18,120 --> 00:16:19,920 Speaker 1: love it. Don't get me wrong. My my brother is 288 00:16:19,960 --> 00:16:23,440 Speaker 1: a big Vinyl collector, but to me, that seems like 289 00:16:23,680 --> 00:16:27,040 Speaker 1: a lot more niche than I would expect print uh 290 00:16:27,080 --> 00:16:31,120 Speaker 1: to be ten years from now. And of course, Meredith, 291 00:16:31,440 --> 00:16:34,960 Speaker 1: as we've talked about in this conversation, very active on 292 00:16:35,080 --> 00:16:38,600 Speaker 1: the acquisition front. Uh. Time In gets sold off, some 293 00:16:38,680 --> 00:16:41,400 Speaker 1: others were probably gonna go out the door as well. 294 00:16:42,080 --> 00:16:44,040 Speaker 1: I'm curious that once you get on the other side 295 00:16:44,080 --> 00:16:47,600 Speaker 1: of that, is Meredith still in an acquisitive mode. Do 296 00:16:47,640 --> 00:16:51,560 Speaker 1: you still see consolidation is something that's going to affect 297 00:16:51,560 --> 00:16:55,160 Speaker 1: your industry. Yeah, we expect that, uh, you know, consolidation 298 00:16:55,160 --> 00:16:57,120 Speaker 1: will continue to occur, and we like being in the 299 00:16:57,120 --> 00:17:01,400 Speaker 1: position of being a consolidate tour and ultimate lee. As 300 00:17:01,400 --> 00:17:05,040 Speaker 1: opportunities present themselves, were always considering opportunities at all times. 301 00:17:05,359 --> 00:17:08,000 Speaker 1: I would expect us to continue to explore opportunities to 302 00:17:08,000 --> 00:17:12,000 Speaker 1: add to our portfolio, whether from a product perspective, from 303 00:17:12,040 --> 00:17:17,199 Speaker 1: a brand perspective, from a category perspective, from a new 304 00:17:17,320 --> 00:17:20,879 Speaker 1: revenue stream um perspective. Anything that's going to continue to 305 00:17:20,920 --> 00:17:24,840 Speaker 1: diversify and strengthen our relationships with consumers and advertisers, I 306 00:17:24,880 --> 00:17:27,560 Speaker 1: think will be something that we would uh we consider 307 00:17:27,720 --> 00:17:29,840 Speaker 1: so long as it's something that we feel we can 308 00:17:29,840 --> 00:17:33,480 Speaker 1: sustainably grow profitably. On that note, are there gaps you're 309 00:17:33,520 --> 00:17:37,320 Speaker 1: looking to fill places where build or buy you want 310 00:17:37,320 --> 00:17:39,440 Speaker 1: to get there and you're not there, Well, I think 311 00:17:39,640 --> 00:17:41,879 Speaker 1: every company has gaps, and we feel we've filled a 312 00:17:41,880 --> 00:17:44,560 Speaker 1: lot of the gaps that we had UM with our 313 00:17:44,840 --> 00:17:48,959 Speaker 1: combination with time UM. We ultimately want to scale videos 314 00:17:48,960 --> 00:17:50,720 Speaker 1: of place. We really like to continue to scale and 315 00:17:50,840 --> 00:17:54,399 Speaker 1: we have an incredible amount of engagement there. Uh. We 316 00:17:54,480 --> 00:17:56,680 Speaker 1: think there's a lot more upside in terms of the 317 00:17:57,119 --> 00:18:02,200 Speaker 1: monthly video views UH and UH monetize herble video of 318 00:18:02,240 --> 00:18:04,720 Speaker 1: views that we can generate across all the channels in 319 00:18:04,720 --> 00:18:07,000 Speaker 1: which we operate, and that I think is an example 320 00:18:07,000 --> 00:18:08,680 Speaker 1: of an area that we're going to look to continue 321 00:18:08,680 --> 00:18:11,439 Speaker 1: to build out together. We're stronger than either one of 322 00:18:11,520 --> 00:18:13,840 Speaker 1: us was before, but we think there's an even bigger 323 00:18:13,880 --> 00:18:17,919 Speaker 1: opportunity for us to scale our video assets UM going forward. 324 00:18:18,440 --> 00:18:22,720 Speaker 1: In another way, the Meredith Time combination reminds me a 325 00:18:22,760 --> 00:18:25,399 Speaker 1: bit of what A T and T and Time Warner 326 00:18:25,400 --> 00:18:29,119 Speaker 1: are going through in terms of just the sensibility of 327 00:18:29,160 --> 00:18:33,000 Speaker 1: the brands. I think Meredith, for instance, is known for 328 00:18:33,440 --> 00:18:35,760 Speaker 1: a wholesome feels like the wrong word, but not a 329 00:18:35,760 --> 00:18:39,320 Speaker 1: bad word to use. Then when the timing stuff comes in, 330 00:18:40,000 --> 00:18:43,639 Speaker 1: you start to get maybe a little more outside what 331 00:18:43,760 --> 00:18:46,840 Speaker 1: I would consider the traditional brand definition. And just in 332 00:18:46,880 --> 00:18:49,240 Speaker 1: the same way that Time Warner changes the complexion of 333 00:18:49,280 --> 00:18:52,680 Speaker 1: a T and T with content like HBO. Do you 334 00:18:52,920 --> 00:18:57,600 Speaker 1: see the brand complexion of Meredith changing as a result 335 00:18:57,680 --> 00:19:00,520 Speaker 1: of this or are you guys the same brand you 336 00:19:00,560 --> 00:19:03,199 Speaker 1: were before? No? I think we we do continue to 337 00:19:03,200 --> 00:19:06,080 Speaker 1: evolve from a branding category perspective. I think by combining 338 00:19:06,359 --> 00:19:09,040 Speaker 1: our two companies, we are thought of more as an 339 00:19:09,119 --> 00:19:12,119 Speaker 1: entertainment and beauty focused company than we ever were before. 340 00:19:12,359 --> 00:19:17,800 Speaker 1: UM as an example, I think from a entertainment, lifestyle, food, home, 341 00:19:17,920 --> 00:19:21,920 Speaker 1: and family perspective, I think we're without pier and that's 342 00:19:22,000 --> 00:19:25,199 Speaker 1: very exciting for us UM but absolutely one of the 343 00:19:25,200 --> 00:19:28,240 Speaker 1: reasons we were excited about coming together as a company 344 00:19:28,240 --> 00:19:31,320 Speaker 1: as we felt it would expand our opportunities to cover 345 00:19:31,359 --> 00:19:34,320 Speaker 1: a broader range of categories for consumers that we serve 346 00:19:34,359 --> 00:19:36,560 Speaker 1: and advertiser that we serve. And I think we're seeing 347 00:19:36,600 --> 00:19:39,800 Speaker 1: that UM play itself out and it's really been a 348 00:19:39,920 --> 00:19:44,199 Speaker 1: very very complementary UM transaction. I can't really think of 349 00:19:44,240 --> 00:19:50,240 Speaker 1: an area where UM both companies were equally strong in 350 00:19:50,400 --> 00:19:53,800 Speaker 1: a core component of our business. So, for example, when 351 00:19:53,840 --> 00:19:58,119 Speaker 1: you look at content driven commerce at Meredith, historically we 352 00:19:58,240 --> 00:20:02,320 Speaker 1: focused at the very bottom of the funnel UM through commerce, 353 00:20:02,359 --> 00:20:06,840 Speaker 1: affiliate marketing, et cetera, affiliate links within content. On the 354 00:20:07,000 --> 00:20:10,840 Speaker 1: time inkside, the focus was more on content to drive commerce. 355 00:20:10,920 --> 00:20:13,359 Speaker 1: And now we've put those two together, and so throughout 356 00:20:13,440 --> 00:20:16,680 Speaker 1: that funnel from a content perspective all the way down 357 00:20:16,720 --> 00:20:19,320 Speaker 1: through the transaction. We think we're a much stronger company 358 00:20:19,680 --> 00:20:22,320 Speaker 1: than ever before. And we're generating hundreds of millions of 359 00:20:22,359 --> 00:20:24,520 Speaker 1: dollars a year in retail sales for our partners, and 360 00:20:24,520 --> 00:20:26,760 Speaker 1: we only expect that to grow. So I think it's 361 00:20:26,760 --> 00:20:30,320 Speaker 1: an example of an area where we had complementary strength, 362 00:20:30,359 --> 00:20:33,600 Speaker 1: and it's one of many we're together. We're much stronger 363 00:20:33,640 --> 00:20:36,080 Speaker 1: now than either one of us was before. You mentioned 364 00:20:36,119 --> 00:20:39,000 Speaker 1: the affiliate links, and that is obviously something that a 365 00:20:39,000 --> 00:20:42,040 Speaker 1: lot of publishing companies are looking at right now. I'm curious, 366 00:20:42,560 --> 00:20:45,800 Speaker 1: you know how aggressive you're looking to be there. I 367 00:20:46,200 --> 00:20:49,280 Speaker 1: hear a lot about the shoppable format. Is that a 368 00:20:49,320 --> 00:20:51,399 Speaker 1: place where you're playing as well and explain what that is. 369 00:20:51,440 --> 00:20:54,040 Speaker 1: Sure absolutely so from we we're looking to make all 370 00:20:54,040 --> 00:20:57,600 Speaker 1: of our media shoppable UM, from video to print to 371 00:20:57,720 --> 00:21:01,240 Speaker 1: digital UM. We are leaning in to that regard because 372 00:21:01,280 --> 00:21:04,199 Speaker 1: we think it provides a value to consumers and we 373 00:21:04,240 --> 00:21:09,600 Speaker 1: are inspiring our content leads UM are inspiring consumers to 374 00:21:09,960 --> 00:21:14,479 Speaker 1: transact and ultimately we're providing value to consumers in that regard. 375 00:21:14,800 --> 00:21:17,600 Speaker 1: We want to make sure the right products and UM 376 00:21:18,400 --> 00:21:21,239 Speaker 1: content are in front of them UM and ultimately we 377 00:21:21,280 --> 00:21:23,639 Speaker 1: facilitate that transaction. We want to make sure we're capturing 378 00:21:23,680 --> 00:21:27,080 Speaker 1: our fair share of the inspiration that we UH we 379 00:21:27,280 --> 00:21:32,320 Speaker 1: create and the transactions that we facilitate. And in terms 380 00:21:32,520 --> 00:21:36,200 Speaker 1: of what you're doing just in general with affiliate commerce, 381 00:21:36,200 --> 00:21:39,280 Speaker 1: that are their particular instances with particular brands where it's 382 00:21:39,320 --> 00:21:41,399 Speaker 1: like you got to see what we're doing here. Sure. 383 00:21:41,480 --> 00:21:43,720 Speaker 1: So one of the great again complimentary things that we've 384 00:21:43,760 --> 00:21:46,040 Speaker 1: done is we have a very successful set of store 385 00:21:46,040 --> 00:21:48,280 Speaker 1: fronts that we've set up within a lot of our brands, 386 00:21:48,480 --> 00:21:51,720 Speaker 1: and we're actually extending those to the newer brands that 387 00:21:51,760 --> 00:21:57,040 Speaker 1: have enter our portfolio, like people like Entertainment, Weekly in Style, etcetera. 388 00:21:57,280 --> 00:22:01,879 Speaker 1: We are going to create um a larger commerce play 389 00:22:01,920 --> 00:22:05,439 Speaker 1: and affiliate marketing play among those brands, in addition to 390 00:22:05,520 --> 00:22:09,879 Speaker 1: looking to extend our brands from a brand licensing perspective 391 00:22:10,000 --> 00:22:13,199 Speaker 1: into online and physical retail. I gotta say, as I 392 00:22:13,280 --> 00:22:17,080 Speaker 1: as I listened to this, in general, I think of 393 00:22:17,320 --> 00:22:22,880 Speaker 1: what must be operationally unbelievably complicated when you consider now 394 00:22:23,000 --> 00:22:28,520 Speaker 1: forty brands all seem to be highly diversified doing things 395 00:22:28,640 --> 00:22:32,479 Speaker 1: on lots of different platforms. I mean even I obviously 396 00:22:32,520 --> 00:22:34,720 Speaker 1: work for a publishing company as well, and I see 397 00:22:34,760 --> 00:22:38,040 Speaker 1: the dance of like balancing or juggling I should say, 398 00:22:38,119 --> 00:22:41,320 Speaker 1: video and print and social and all that. How are 399 00:22:41,359 --> 00:22:44,960 Speaker 1: you guys adapting to this reality? Well, it is complicated 400 00:22:44,960 --> 00:22:48,119 Speaker 1: as you As you mentioned, at the end of the day, 401 00:22:48,160 --> 00:22:51,399 Speaker 1: we have an incredibly talented leadership team and employee base, 402 00:22:51,720 --> 00:22:53,919 Speaker 1: and that's one of the things that excites me the 403 00:22:53,920 --> 00:22:55,400 Speaker 1: most because at the end of the day, that's our 404 00:22:56,119 --> 00:22:58,960 Speaker 1: uh real secret, Sauce, I think is the is the 405 00:22:59,240 --> 00:23:01,760 Speaker 1: incredibly small aren't talented employees that we have and their 406 00:23:01,800 --> 00:23:05,639 Speaker 1: ability to multitask and focus on a number of different 407 00:23:05,640 --> 00:23:08,919 Speaker 1: opportunities at once, whether they be brand lead, whether they 408 00:23:08,960 --> 00:23:11,520 Speaker 1: be product lead, whether they be consumer revenue driven, whether 409 00:23:11,560 --> 00:23:15,560 Speaker 1: they be UM advertising lead, and that's ultimately what we're seeing. 410 00:23:15,560 --> 00:23:17,840 Speaker 1: We've got a lot of new ideas and great ideas 411 00:23:17,840 --> 00:23:20,400 Speaker 1: of bringing these two companies together where we've been able 412 00:23:20,440 --> 00:23:24,000 Speaker 1: to take existing products to a different level, existing monetization 413 00:23:24,040 --> 00:23:27,840 Speaker 1: opportunities to a different level, and leverage the collective capabilities 414 00:23:28,000 --> 00:23:30,800 Speaker 1: that each of the companies that's come together had In 415 00:23:30,880 --> 00:23:35,359 Speaker 1: certain many places, time in brands were stronger the Meredith brands, 416 00:23:35,359 --> 00:23:38,600 Speaker 1: and in many places the Meredith brands and business was stronger. 417 00:23:38,640 --> 00:23:41,600 Speaker 1: And together we're just finding a lot of opportunity from 418 00:23:41,600 --> 00:23:44,919 Speaker 1: a revenue growth perspective and from a margin improvement perspective 419 00:23:45,640 --> 00:23:49,560 Speaker 1: that excites us. But it really comes down to focus UM. 420 00:23:49,640 --> 00:23:53,359 Speaker 1: It comes down to recognizing what businesses are really core, 421 00:23:53,440 --> 00:23:59,040 Speaker 1: what brands are core UM, what businesses and products truly 422 00:23:59,080 --> 00:24:01,919 Speaker 1: have the ability to be sustainable growth engines that are 423 00:24:01,920 --> 00:24:05,040 Speaker 1: profitable for the company UM and and focusing on those 424 00:24:05,080 --> 00:24:07,160 Speaker 1: and leveraging the best in class talent that we have 425 00:24:07,680 --> 00:24:12,960 Speaker 1: to really unlock the fullest UM sense of those opportunities 426 00:24:13,000 --> 00:24:16,120 Speaker 1: for us. How would you describe because you know Meredith 427 00:24:16,200 --> 00:24:19,679 Speaker 1: is a company because it's in Des Moines, Iowa, and 428 00:24:19,720 --> 00:24:22,000 Speaker 1: I'm a New York l a kind of guy I 429 00:24:22,080 --> 00:24:25,520 Speaker 1: don't have much exposure to and I'm just curious, you know, 430 00:24:25,680 --> 00:24:28,200 Speaker 1: how do you define what the Meredith culture is from 431 00:24:28,200 --> 00:24:32,280 Speaker 1: a corporate perspective? Does the Time Ink acquisition change that? 432 00:24:32,320 --> 00:24:35,000 Speaker 1: If you could describe that well, I think at Meredith 433 00:24:35,040 --> 00:24:39,080 Speaker 1: we've always been a company were very collaborative company. We've 434 00:24:39,080 --> 00:24:42,440 Speaker 1: been a company that's very results oriented, very team oriented 435 00:24:43,160 --> 00:24:48,640 Speaker 1: UM where we really look to capitalize on opportunities as 436 00:24:48,680 --> 00:24:51,400 Speaker 1: a team UM and we look to engage with each 437 00:24:51,400 --> 00:24:54,520 Speaker 1: other to try to resolve any challenges that we have. 438 00:24:54,720 --> 00:24:56,879 Speaker 1: And one of the things that's been interesting to me 439 00:24:57,000 --> 00:24:59,440 Speaker 1: is I've found, you know, a lot of people asked 440 00:24:59,480 --> 00:25:01,800 Speaker 1: us as are two companies came together, Meredith and time 441 00:25:02,119 --> 00:25:06,480 Speaker 1: Are you expecting a real significance UM in cultural differences? 442 00:25:06,960 --> 00:25:09,720 Speaker 1: And based on my early interaction with folks, I really didn't, 443 00:25:09,720 --> 00:25:12,440 Speaker 1: and that's played out. We really have a very very 444 00:25:12,480 --> 00:25:15,679 Speaker 1: aligned UM culture. I think everybody is excited to be 445 00:25:15,760 --> 00:25:19,600 Speaker 1: part of a larger company UM that offers an amazing 446 00:25:19,680 --> 00:25:23,240 Speaker 1: array of of brands, content and products to consumers and 447 00:25:23,280 --> 00:25:28,080 Speaker 1: advertisers and really can see UM the success that we 448 00:25:28,160 --> 00:25:30,760 Speaker 1: feel that we have not only today, but ahead of 449 00:25:30,840 --> 00:25:33,600 Speaker 1: us going forward, and we found it to be you know, 450 00:25:33,760 --> 00:25:36,359 Speaker 1: very very seamless, I think, much more seamless, and probably 451 00:25:36,400 --> 00:25:40,080 Speaker 1: the marketplace expected it to be um out of the gate. 452 00:25:40,200 --> 00:25:42,080 Speaker 1: And uh, that's one of the things that really excites 453 00:25:42,119 --> 00:25:44,760 Speaker 1: me a lot. There's our cultural alignment. And I guess 454 00:25:44,800 --> 00:25:46,840 Speaker 1: I made it an almost joking reference, but I am, 455 00:25:46,880 --> 00:25:49,680 Speaker 1: honest to God curious about the iowa of it all. 456 00:25:49,880 --> 00:25:52,880 Speaker 1: As you guys get bigger, isn't it sort of inevitable, Well, 457 00:25:52,920 --> 00:25:54,800 Speaker 1: you know, headquarters have to move to New York or 458 00:25:54,840 --> 00:25:57,360 Speaker 1: something like that. I think we've found sort of having 459 00:25:57,400 --> 00:25:59,840 Speaker 1: our our our headquarters in Des Moines from a corporate 460 00:25:59,920 --> 00:26:04,560 Speaker 1: or sspective, and really having our core advertising um UM 461 00:26:04,640 --> 00:26:08,920 Speaker 1: and content creation efforts not only in uh New York, 462 00:26:08,960 --> 00:26:11,200 Speaker 1: but also in Des Moines and now in Birmingham with 463 00:26:11,359 --> 00:26:13,840 Speaker 1: UM some of the brands we've added in the facility 464 00:26:13,840 --> 00:26:16,200 Speaker 1: that we have there. We found a great balance, and 465 00:26:16,240 --> 00:26:22,320 Speaker 1: I think culturally our our employees are fairly UM, really aligned, 466 00:26:22,359 --> 00:26:25,280 Speaker 1: I would say in in l A in Seattle as well, 467 00:26:25,760 --> 00:26:27,840 Speaker 1: we haven't seen it. And so I think we have 468 00:26:28,080 --> 00:26:33,520 Speaker 1: that UM, that collaborative ethos, we have that team oriented 469 00:26:33,560 --> 00:26:37,520 Speaker 1: culture in all the offices that we're in UM and 470 00:26:37,600 --> 00:26:40,520 Speaker 1: so if that makes us a little more des moine 471 00:26:40,520 --> 00:26:44,560 Speaker 1: across all of our UM uh you know cities in 472 00:26:44,560 --> 00:26:47,760 Speaker 1: which we operate, we think that's a great thing. One 473 00:26:47,840 --> 00:26:50,600 Speaker 1: last question. You know, we've talked a lot about the 474 00:26:50,600 --> 00:26:55,719 Speaker 1: different ways Meredith is innovating, and we touched on data. Yes, uh, 475 00:26:56,320 --> 00:26:58,560 Speaker 1: could you talk about sort of the role of data 476 00:26:58,720 --> 00:27:01,240 Speaker 1: science and Meredith might guess is it probably didn't even 477 00:27:01,240 --> 00:27:03,800 Speaker 1: exist at Meredith two or three years ago. Well, one 478 00:27:03,800 --> 00:27:05,560 Speaker 1: of the first things I joined the company six and 479 00:27:05,600 --> 00:27:09,640 Speaker 1: a half years ago and UM, my first operating role 480 00:27:09,680 --> 00:27:12,520 Speaker 1: that they moved me into was overseeing UM part of 481 00:27:12,520 --> 00:27:15,520 Speaker 1: our good chunk of our digital business and ultimately entire 482 00:27:15,560 --> 00:27:18,000 Speaker 1: digital business. And one of the first things that we 483 00:27:18,080 --> 00:27:22,040 Speaker 1: did UM with that was we centralized all of our 484 00:27:22,119 --> 00:27:26,000 Speaker 1: data science and business analytics teams. We had teams sitting 485 00:27:26,080 --> 00:27:30,240 Speaker 1: within consumer marketing, we had teams sitting within UM Advertising, 486 00:27:30,280 --> 00:27:33,240 Speaker 1: we had teams sitting within research, we had teams sitting 487 00:27:33,240 --> 00:27:35,600 Speaker 1: within the brands, and we centralized all of those teams 488 00:27:35,720 --> 00:27:38,640 Speaker 1: because we wanted to do was we wanted to harness 489 00:27:38,840 --> 00:27:41,760 Speaker 1: all of those insights and analytics on behalf of our 490 00:27:41,880 --> 00:27:45,760 Speaker 1: entire business from both an advertising and consumer revenue perspective, 491 00:27:46,000 --> 00:27:47,920 Speaker 1: and be able to bring the full weight of those 492 00:27:47,920 --> 00:27:51,439 Speaker 1: insights and analytics and that proprietary first party data to 493 00:27:51,560 --> 00:27:55,399 Speaker 1: bear for our advertising clients, agencies that represented them, and 494 00:27:55,440 --> 00:27:57,840 Speaker 1: the partners that we work with at the most strategic level. 495 00:27:57,920 --> 00:28:00,760 Speaker 1: So that's something we did probably doably close to four 496 00:28:00,840 --> 00:28:03,560 Speaker 1: or five years ago, and we really think it's it's 497 00:28:03,600 --> 00:28:05,199 Speaker 1: helped us and it's one of the things that's going 498 00:28:05,200 --> 00:28:08,879 Speaker 1: to continue to differentiate Meredith. We hear all the time 499 00:28:08,920 --> 00:28:12,000 Speaker 1: from our clients that one of the things that excites 500 00:28:12,480 --> 00:28:15,520 Speaker 1: the about working with us is not only that our 501 00:28:15,880 --> 00:28:19,359 Speaker 1: first party data and insights can help inform their media plans, 502 00:28:19,359 --> 00:28:21,960 Speaker 1: which are of course important, but they're also helping inform 503 00:28:22,040 --> 00:28:25,320 Speaker 1: their product portfolios and their product decisions. So when you 504 00:28:25,359 --> 00:28:28,320 Speaker 1: can do that as a company UM, you become a 505 00:28:28,400 --> 00:28:32,159 Speaker 1: very strategic partner to marketers, UM and the agencies that 506 00:28:32,200 --> 00:28:37,480 Speaker 1: represent the particularly marketers, because you're ultimately helping them UM 507 00:28:37,480 --> 00:28:40,800 Speaker 1: many minimize the risks that could be potentially associated with 508 00:28:41,160 --> 00:28:43,840 Speaker 1: a decision they may or may not make, or to 509 00:28:43,920 --> 00:28:46,600 Speaker 1: sort of narrow the range of potential outcomes UM and 510 00:28:46,680 --> 00:28:49,680 Speaker 1: optimize for areas that they have the chance to be 511 00:28:49,720 --> 00:28:54,320 Speaker 1: more successful, and we've helped numerous companies launched new products. 512 00:28:54,880 --> 00:28:58,480 Speaker 1: We've helped numerous companies not launched new products by alerting 513 00:28:58,520 --> 00:29:00,440 Speaker 1: them to the fact that we've taken at this and 514 00:29:00,480 --> 00:29:03,960 Speaker 1: we think this trend has peaked. UM. A great example 515 00:29:04,120 --> 00:29:07,200 Speaker 1: is UM overnight oates. We saw that trend six months, 516 00:29:07,200 --> 00:29:10,000 Speaker 1: probably before anyone else did. We were able to partner 517 00:29:10,480 --> 00:29:14,280 Speaker 1: with one of our key clients to identify that new 518 00:29:14,400 --> 00:29:17,600 Speaker 1: use case. You know, oatmeal is a power food UM, 519 00:29:17,640 --> 00:29:22,640 Speaker 1: and we're constantly seeing those opportunities in our up portfolio 520 00:29:22,760 --> 00:29:26,400 Speaker 1: across all categories and that's something I think that again, 521 00:29:26,440 --> 00:29:29,480 Speaker 1: taking that centralized view and harnessing all of our data 522 00:29:29,480 --> 00:29:34,160 Speaker 1: and insights together on behalf of advertisers is really powerful. 523 00:29:34,400 --> 00:29:36,680 Speaker 1: And by the way, we leverage those same insights and 524 00:29:36,680 --> 00:29:39,200 Speaker 1: platforms and capabilities for our own business because we are 525 00:29:39,240 --> 00:29:43,120 Speaker 1: a consumer first company. We have our own brands and 526 00:29:43,120 --> 00:29:46,320 Speaker 1: our own experiences that are incredibly important to us that 527 00:29:46,360 --> 00:29:49,720 Speaker 1: we've built incredible equity and over a hundred and sixteen years, 528 00:29:49,760 --> 00:29:52,719 Speaker 1: and those are critically important, and so the same insights 529 00:29:52,760 --> 00:29:55,240 Speaker 1: and capabilities that we leverage ourselves or we try to 530 00:29:55,320 --> 00:29:57,640 Speaker 1: leverage for our partners and clients. Well, I got a 531 00:29:57,680 --> 00:30:01,440 Speaker 1: feeling this is an area that's really just beginning to evolve, 532 00:30:01,800 --> 00:30:04,640 Speaker 1: not just at your company, but at many others. Thank 533 00:30:04,680 --> 00:30:08,240 Speaker 1: you for sharing with us about the Meredith world today. 534 00:30:08,360 --> 00:30:10,640 Speaker 1: I appreciate coming in, John Andrew, thanks so much. It's 535 00:30:10,680 --> 00:30:15,440 Speaker 1: real pleasure to be here. This has been another episode 536 00:30:15,440 --> 00:30:18,440 Speaker 1: of Strictly Business. Tune in next week for another helping 537 00:30:18,440 --> 00:30:22,360 Speaker 1: of scintillating conversation with media movers and shakers, and please 538 00:30:22,400 --> 00:30:26,840 Speaker 1: make sure you subscribe to the podcast to hear future episodes. Also, 539 00:30:27,080 --> 00:30:29,560 Speaker 1: leave a review in Apple Podcast let us know how 540 00:30:29,560 --> 00:30:30,640 Speaker 1: we're doing a mo