In this edition of ‘Sell-Side View’, we speak with Marla Newman, EVP of digital sales and Jason Lidofsky, executive director of video strategy and sales activation at Meredith Corp. In this interview Newman and Lidofsky discuss how Meredith Corp is coping with the cookie challenge, which types of video content are performing well, and why the company has prioritised developing its own proprietary ad tech.
What is the greatest challenge facing publishers today?
One of the greatest challenges is continuing to be where consumers are before they get there. Whether it’s on our sites, YouTube, social or OTT, we constantly strive to deliver quality premium video wherever people are watching now and next.
How important is video revenue to your business?
It has been and remains a major area of growth for Meredith and is a reflection of the trust that both consumers and advertisers have in our brands and the content we create – in any format.
Which ad tech vendors are delivering the most value to your business?
Meredith video is largely driven by our proprietary tech. This allows us to have more control over our player and ad experience. It also enables us to deliver a variety of solutions, such as shoppable, interactive and native, in addition to high volumes of premium in-stream pre-roll inventory.
If you could change one thing about the buy side, what would it be?
We would definitely look for more consistent KPIs.
Which content types and video formats are working best for you today?
We employ multiple formats to ensure that we are telling the right story in the right format for consumers and that we are seeing success in a number of areas across the board. This includes delivering short-form content optimised for social consumption, as well as long-form, talent driven storytelling across platforms.
We are very proud of our support of the SeeHer movement, where we’ve launched a variety of programming across multiple brands. The initiative aims to increase the percentage of accurate portrayals of women and girls in U.S. advertising and media. Original video series – such as SeeHer Story from PEOPLE, Moms Run the World from PARENTS and Badass Women from InStyle – have all performed very well, attracted multiple sponsors, and have therefore been renewed for multiple seasons.
Do you produce video in-house? How do you go about it?
Yes, we operate several production studios in New York, Birmingham, Alabama, Los Angeles and our headquarters in Des Moines, Iowa. These studios service our entire portfolio of brands and enable us to deliver content that ranges from celebrity and entertainment talk shows from PEOPLE and Entertainment Weekly to recipe content from our professional test kitchens.
What do you think is your publication’s strongest USP in the eyes of your audience?
We reach 95 percent of women in the U.S. Our ability to reach that massive audience and deliver premium content from trusted brands across the categories that matter most – health, home, food, family and entertainment – is an extraordinary advantage. We’ve recently seen significant video viewership growth, which has been driven by our ability to deliver inspirational content that evokes action. Whether it is a how-to video on building a firepit in your backyard or a shoppable recipe video, Meredith reaches female consumers in meaningful ways that drive action.
Do you think the demise of the cookie and privacy will help or hinder publishers? How do you think the industry will adapt?
Many publishers are going to find themselves challenged by this. Publishers like Meredith that have a meaningful direct relationship with their consumers and a deep understanding of their needs will continue to find success. We’re in a strong position because we have direct relationships with consumers at scale across our trusted brands, and consumers are likely to continue to share their data with us, as we have seen tremendous growth in our direct subscription and newsletter relationships. Also, our content engagement data is not reliant on cookies, so we will be able to continue producing our deep predictive trends and behavioural insights – maintaining our role as an industry thought leader. More broadly, all the players in the ecosystem are looking at various consortiums and identity resolution solutions. Meredith is exploring these too. This enables us to deliver content experiences that matter to our consumers and to unlock great value with our advertising partners.
Are you exploring ways of monetising your content outside of advertising? Are they succeeding?
We have numerous models in place outside of advertising to help diversify and drive our business forward. This includes but is not limited to affiliate and licensing models.
Which social platforms are working best for you in terms of distribution, engagement and revenue generation?
It depends on how you define “best.” Each social platform has its own set of best practices, consumer behaviours and even its own definition of what constitutes a view. As a result, it’s not as simple as ranking one platform over another based on any single metric, such as views, engagement or even revenue. We see value in reaching audiences wherever they are watching and that includes YouTube, Facebook, Instagram, IGTV, Twitter, Pinterest, Snapchat and TikTok. We’re extremely proud of our varied approach to social content and are always looking for new avenues of growth.
What person in the industry inspires you the most today?
We admire and are inspired by CVS CMO Norman de Greve’s consumer advocacy work. His “Stand Up, Stand Out and Stand Firm” platform is commendable. Bold moves like ceasing to sell tobacco products have made this successful retailer one of the world’s largest healthcare companies.
What does the future hold for publishers?
The future is bright for publishers. There is boundless opportunity to innovate and unlock deep consumer relationships by bringing together data, utility and meaningful content experiences from trusted brands. Keeping our advertising partners at the forefront of these relationships and constantly delivering value in new ways is at our core and positions Meredith to win well into the future.
