3 Tactics Legacy Media Brands Are Using to Stay Relevant

Some say traditional media is dying, but legacy brands are finding ways to innovate and endure in an ever-shifting landscape. Leaders from Time, Essence, and Eater convened at ADWEEK’s Mediaweek in New York on Tuesday (Oct. 30) to share the strategies that are helping them grow, retain relevance, and reach new audiences. From reinventing print to extending into events and apps, a few key themes emerged. Not giving up on print Print may not carry the same audience that it used to, with numerous publications reducing or shuttering their print editions in recent years, but it still wields influence when used in the right way. Just look at Time. Even today “the most influential people in the world still really want to be on our covers,” said the publication’s chief marketing officer Sadé Muhammad. While Time’s print revenues have declined over the years, Muhammad said the company has found ways to make that part of the business more efficient and profitable. The medium remains valuable and influential for both readers and advertisers, she added. “It’s still a great play for folks who want that moment [on a cover],” Muhammad said. “Advertisers still appreciate that too.” Extending the brand As the media landscape changes, legacy brands have expanded into new areas like events, apps, and merchandise to diversify their revenue streams and grow audiences. For example, Essence hosts Essence Fest, and this year partnered with sister brand Refinery29 in a push to “speak to every woman,” said Nandi Howard, vice president of content at Essence. Earlier this month, Eater finally launched its first mobile app, following other brand extensions like cookbooks and merchandise. This year, it will host a holiday market where it will offer discounts to attendees who use the app, said editor-in-chief Stephanie Wu. However, with every brand extension, “it’s making sure that the editorial sensibility that people know and love Eater for comes through in everything we do. It’s never a logo slap,” Wu said. “That meticulousness and thoughtfulness goes a long way with reader trust.” Getting focused Many media titles are getting more specialist to provide targeted information to readers and grow their subscriber bases, ADWEEK senior reporter Mark Stenberg pointed out. Time is an example of a brand that has shifted away from generalist content. “Advertisers said, ‘I love Time but it’s very general interest, and I don’t know what to talk to Time about.’ Readers said, ‘I don’t see myself in Time. It doesn’t seem attainable,’” Muhammad said. As a result, Time has created more specialist products for niche audiences, such as the Time 100 lists recognizing influential people in artificial intelligence, climate, and health, and an event called The Closers for Black leaders working to close the racial wealth gap. Such innovations are proof that legacy brands can continue to move the needle for audiences, Muhammad said. “Legacy matters to the extent that you innovate, to the extent that you are willing to say, ‘we’re willing to do this in a completely different way,’” she said. “Legacy gives permission, but that’s it. You have to innovate.”

Mediaweek

3 Tactics Legacy Media Brands Are Using to Stay Relevant

Leaders from Time, Essence, and Eater spoke at Mediaweek about how they're growing their brands

Not giving up on print

Brittaney Kiefer

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Not giving up on print

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Brittaney Kiefer