![]() ![]() “We’ve been focused on two words: quality and scale.” Podcast advertising is growing That has been something we experimented with and has been really resounding success and a different way to approach it that does not involve a paywall.” “Our Vox contributions program is a different model, which is not based on paywall but based on supporting their journalism and keeping it free for everyone by making contributions that are voluntary. “ New York Magazine has seen its digital subscriptions jump, probably double year-over-year to hit record highs on a month to month basis – that’s based on the quality journalism that they have been leading through the pandemic,” said Bankoff. He continued: “Whatever your circumstance is, being able to live your authentic life – which has now become a cliche – and understanding what we are all going through and making accommodations so we can all be there for one another has been an area of emphasis, within our company but with our business partners as well.”Īccelerating growth areas across Vox Media Studios, consumer revenue and programmaticīankoff notes a number of business lines that have been accelerated for Vox Media over the last few months across programmatic advertising with Concert, affiliate and ecommerce, consumer revenue and subscriptions, and studios, including podcasting. In response to a question on the challenges he faces leading Vox Media through the pandemic, Bankoff responded: “Any conversation about leading through the pandemic needs to start with the people most impacted, who are sick, who have loved ones who have died because of the pandemic, whose lives have been uprooted by not only the pandemic but the multiple layers of disruption that we’ve seen in the world, whether it’s the health crisis created by the pandemic, or what we are seeing play out with systemic racial injustice, or it’s what we are seeing play out with natural disasters with the California fires or storms in the south east.” ![]() “All of we are building is built on modern storytelling, knowing how to engage consumers where they are in ways that are relevant to their lives.” “I don’t think there’s another company that’s been built in the last couple of decades that’s been as successful in establishing big consumer brands and building a strong business based primarily on news and information and modern storytelling,” said Bankoff. He notes Vox Media’s business is complex, across multiple leading consumer brands, lines of businesses and the platforms upon which the media company delivers content to. “Whether it’s understanding the changing business models, understanding the changes in editorial coverage, understanding the cultural changes around us and not only responding to them but being part of them and leading throughout them, has been critical,” said Bankoff on stage. “Vox Media has become this amazing platform to grow these multifaceted brands with business models and consumer touchpoints that feed off of one another.”īankoff notes a key attribute to being a modern media company is being able to thrive on change. Here are five takeaways from the conversation. In the 30-minute interview, Bankoff shared his definition of a modern media company, how Vox Media has grown to be the leading news company built in the last decade, how he’s led the company through a tumultuous year and what Vox Media is hearing from advertisers. ![]() On stage at Advertising Week, Vox Media’s CEO and Chairman Jim Bankoff joined the virtual stage in an interview with Jessica Toonkel, media and telecom reporter at The Information. ![]()
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