Good morning, it’s Lucinda Southern, Adweek media editor here.
Magazine publisher Time is seeing decent business from its youth-focused title, Time for Kids, which has grown to 63,000 subscribers since September and is nearly profitable, thanks to its annual $19.99 price tag.
Time president Keith Grossman and editor-in-chief Edward Felsenthal outlined how the company has leaned into, and expanded, its franchises over the last eight months at Adweek’s first Elevate Publishing Summit yesterday.
As we know, in March media businesses had a turn on a dime and rethink core principles like distribution and monetization. When schools closed, the print title was cut off from its main customer base. Time made the content available online and offered it for free until September, by then the habit had taken hold enough that people were very willing to pay for it.
Interestingly, coming out of the pandemic, Time for Kids will be the most transformed segment of the Time ecosystem, according to Grossman.
Staying on the summit, check out Axios’ Jim VandeHei on the publisher’s plans to help local news.
Today I’ll be speaking with The Information’s Jessica Lessin about the different ways it’s monetizing its community, especially via virtual events. To me, publishers say they welcome the lower cost of virtual events but a lot struggle to make significant money from them. Join us if you can.
On another note, know your K-anon from your FLoCs. If you need to brush up on your Privacy Sandbox jargon, programmatic editor Ronan Shields has penned a super helpful glossary for the latest terms.
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Thanks for reading!
Lucinda
