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Back To The Future of Media: Ben Lerer 2015 SXSW
- 3. Content creation was expensive Content distribution was expensive Media was controlled by the few Advertisers ultimately were at the mercy of the media Before the Internet… @BenjLerer #Back2Media
- 4. The Good Ol’ Days @BenjLerer #Back2Media
- 6. Traditional media wanted the RULES to be the same for Digital @BenjLerer #Back2Media
- 10. 2005 U.S. Advertising Marketshare 4.7% Internet Advertising Sources: IAB Internet Revenue Report: PriceWaterhouseCoopersLLP; Universal McCann @BenjLerer #Back2Media
- 12. There was only one way to effectively MONETIZE digital @BenjLerer #Back2Media
- 14. Over the last 10 years, a bunch of shit has happened @BenjLerer #Back2Media
- 15. The Democratization of Media @BenjLerer #Back2Media
- 16. Publishing Tools Were Created @BenjLerer #Back2Media
- 17. The Rise of Social @BenjLerer #Back2Media
- 19. So, how do you win in digital media today? @BenjLerer #Back2Media
- 20. Increasing Web Users 0 0.5 1 1.5 2 2.5 3 3.5 4 2013 2014 2015 2016 2017 2018 Source: eMarketer, November 2014 2.69B 2.89B 3.07B 3.25B 3.42B 3.6B @BenjLerer #Back2Media
- 21. Increasing Online Ad Spending $0.00 $10.00 $20.00 $30.00 $40.00 $50.00 $60.00 $70.00 2011 2012 2013 2014 2015 2016 $32B $39.5B $46.5B $52.8B $57.5B $62B Source: eMarketer, January 2012 @BenjLerer #Back2Media
- 22. The New Media Playbook Tech-centric Social DNA Data-centric Multiplatform Distribution Personalization Real Time Content Strong Brand Voice Mobile First Best In Class Branded Content @BenjLerer #Back2Media
- 24. Source: Altitude Digital U.S. Ad Spending 2011 76%Nonprogrammatic 2012 62% 2013 47% 2014 36% 2015 27% 2016 21% 2017 17% @BenjLerer #Back2Media
- 25. What does the FUTURE OF MEDIA look like? @BenjLerer #Back2Media
- 26. The media company of the future will figure out a way to DIRECTLY MONETIZE its users @BenjLerer #Back2Media
- 28. The distance between INSPIRATION and POINT OF PURCHASE has come together @BenjLerer #Back2Media
- 29. A media company’s CORE ASSET is its access to, relationship with, and ultimately influence over its audience @BenjLerer #Back2Media
- 31. Commerce provides the opportunity for media companies to not just think about share of ATTENTION, but also share of WALLET @BenjLerer #Back2Media
- 34. 2 HISTORY MAY 4, 2005 Thrillist Sends Its First Email JULY 31, 2008 JackThreads Launches as a Flash Sale Street Wear Brand OCTOBER 9, 2008 Thrillist Features JackThreads Editorially SEPTEMBER 16, 2013 Our Integrated Content & Commerce Platform, Launches OCTOBER 23, 2013 Supercompressor Launches MAY 13, 2010 Thrillist Acquires JackThreads + @BenjLerer #Back2Media
- 35. The Commerce Business 1M+ Packages Shipped In 2014 Packages Shipped In 2014 $100 Packages Shipped In 2014 Projected Revenue in 2015 60% Packages Shipped In 2014 Repeat Buyers @BenjLerer #Back2Media
- 36. Massive Commerce Business 80% commerce 20% advertising @BenjLerer #Back2Media
- 37. We are the media company that’s closest to the customer’s wallet @BenjLerer #Back2Media
- 38. StorySelling Content at a Venue Content in Funnel Content in a Box Content for Sale Relevant Content Awareness & Consideration Commerce Intent & Conversion @BenjLerer #Back2Media
- 40. Bad Definition of Disruptive 1. To cause something to be unable to continue in the normal way; to interrupt the normal progress or activity of something @BenjLerer #Back2Media
- 41. 2. A new product, service or idea that radically changes an industry or business strategy Good Definition of Disruptive @BenjLerer #Back2Media
- 43. Content in a Box @BenjLerer #Back2Media
- 44. Actionable User Data No Media Company Can Match Taxonomy Content Categories Commerce Product Categories Commerce Brand Names User Behavior Content Clicks Social Sharing Add to Cart Browsing History Order History Purchase Frequency Average Order Size LTV Personally Identifiable Information Age Email Address Home Shipping Address Types of Credit Cards Social Login Information Mobile Devices Used Thrillist City Subscription Preferences Private Label & Collaborations Personalization Ad Targeting @BenjLerer #Back2Media
- 46. TMG Ad Campaign with Integrated Content & Commerce 3.5x Larger @BenjLerer #Back2Media
- 47. Turning Readers into Buyers @BenjLerer #Back2Media
- 48. And Turning Buyers into Readers @BenjLerer #Back2Media
- 50. Maximum Monetization $9.18 $8.21 $6.47 $4.86 $4.40 $3.99 $3.02 $2.70 2014 ARPU $102.77 $66.97 $52.66 $48.83 $26.76 $12.85 $10.24 $10.16 2014 RPM @BenjLerer #Back2Media
- 51. We’re not the only ones doing this @BenjLerer #Back2Media
- 59. The media company of the future will figure out a way to DIRECTLY MONETIZE its users @BenjLerer #Back2Media
- 60. THANK YOU. I would definitely make out with most of you. @BenjLerer #Back2Media
Editor's Notes
- Ben: Should we paint the picture that media businesses are forced to arb if they spend which is dangerous and not scalable and that we don’t have to do that. Can we say that explicitly? And make the same point for commerce – that when we buy we get value from users who don’t even become buyers quickly? This and the slide before feel like they need a section that also connects to the idea of the platform somehow. Think we need to get back to that to tie this all together before we get into the hardcore financials. Eric: I think we should talk to the point about businesses being forced to arb if they spend. It’s a complicated point, and most media companies know this…and thus don’t typically spend unless its around an ad campaign. I don’t think we should state it explicitly here…but happy to discuss if you have language in mind. I will try to add references back to platform. Good point. See a first attempt above by referencing Vortex, which is also on that Pinnacle slide. BG can make this look much better.