Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

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  • http://www.jackthreads.com/thecrosbypress/2014/01/27/casual-essentials-with-just-enough-pop
  • http://www.jackthreads.com/sales/true-colors-fresh-head-to-toe-looks/12852

Transcript

  • 1. @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 2. It’s the BEST TIME EVER to start a digital media company. @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 3. Modern Publishing Tools Social Smartphone Proliferation Amazon Web Services Broadband MOBILE Google/Search @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 4. @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 5. There is a big UNTAPPED OPPORTUNITY in digital media. @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 6. Currently Tapped Revenue Streams: 1. Advertising 2. Subscription 3. Events 4. Licensing @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 7. Let’s Look Closer: 1. Advertising 2. Subscription 3. Events 4. Licensing @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 8. UNLIMITED INVENTORY Digital Ad Inventory > Advertiser Demand @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 9. BRANDS ARE PUBLISHERS @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 10. Mass Reach / Direct Response Solutions Consume Majority of Ad Dollars FACEBOOK Pinterest Google Programmatic Ad Networks @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 11. When Traditional Media worked, it didn’t have this problem @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 12. Advertising Spend: Online vs. Offline (this will continue…) 70 60 50 40 Print 30 Digital Billions 20 10 0 2011 2012 2013 2014 2015 2016 2017 @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 13. Annual Revenue for Digital Publishers 120 100 80 60 40 LESS THAN $100 MILLION 20 0 Yearly Revenue @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 14. A Challenge For Publishers to Overcome PREMIUM REMNANT inventory @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 15. Let’s Look Closer: 1. Advertising 2. Subscription 3. Events 4. Licensing @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 16. Substantial Subscription Revenue is limited to very few publishers. @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 17. @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 18. Let’s Look Closer: 1. Advertising 2. Subscription 3. Events 4. Licensing @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 19. @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 20. Let’s Look Closer: 1. Advertising 2. Subscription 3. Events 4. Licensing @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 21. @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 22. There is a big UNTAPPED OPPORTUNITY in digital media. @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 23. COMMERCE! @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 24. We grew to be a Decent-Sized business 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 2005 2006 2007 2008 2009 @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 25. “Streetwear's bold styles and outlandish patterns either grab you immediately or they don't – no one's ambivalent about a Playa's Club gold-studded teal sleeveless hoodie. Make the call and move on, with Jack Threads.” Thrillist Boston – October 9, 2008 @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 26. READERS BUYERS @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 27. Huge Increase in Lifetime Value Shitload of Value No Value @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 28. Massive Commerce Business 80% commerce 20% advertising @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 29. We DON’T have this problem Typical Digital Publisher PREMIUM REMNANT inventory PREMIUM NATIVE commerce @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 30. $100M+ 2M+ EXPECTED 2014 SALES PACKAGES TO BE SHIPPED IN 2014 Source: Internal
  • 31. Huge Increase in Lifetime Value $100+ $3-$20 Thrillist Brand PremiumMedia RPM @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 32. Annual Revenue for Digital Publishers 120 100 80 60 40 LESS THAN $100 MILLION MORE THAN $100 MILLION 20 0 Yearly Revenue @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 33. The Kicker: Understanding purchasing behaviors also makes for a better ad product @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 34. 1M+ 2M+ 7M+ Credit Cards on File Packages to be Shipped in 2014 Logged In Users @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 35. There is a big UNTAPPED OPPORTUNITY in digital media. @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 36. You can do it! @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 37. You can do it! @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 38. You can do it! @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 39. @BENJLERER @THRILLISTMEDIA #DIGICRONUT
  • 40. Thank You. You are my ONLY friends. @BENJLERER @THRILLISTMEDIA #DIGICRONUT