Skift gets 30 percent of its revenue from branded content
Media companies eyeing new revenue streams have embraced branded content as the area most ripe for growth. It’s the same story on the business-to-business side, where many publishers hope to make big bucks helping B2B brands tell their stories.
Skift, the 3-year-old travel news and information site, is in the same boat. To help scale its branded-content unit, SkiftX, the company said this week that it has hired publishing vet Carolyn Kremins as its first president. Kremins, Skift’s highest-profile hire to date, has a long history of launching and building media brands including Condé Nast Traveler, Maxim and The Week.
Skift hopes that Kremins’ experience in consumer media will help expand the site’s clients beyond its core travel brands to luxury and finance, helping further its branded-content business.
“Our big focus has been doing the right things instead of doing everything. We’re trying to go deeper into the things we know how to do and focus on those,” said Rafat Ali, Skift’s CEO, said.
Skift, which has raised $2.5 million since its start, pulled in revenue in the “ mid single millions” (meaning around 5 million) and made a profit for the first time this year, said Ali.
Much of that growth came from branded content, which makes up about 30 percent of Skift’s business. That’s come from a handful of big travel brands including American Express, Hilton, Club Med and Amadeus, which have used Skift to create microsites, videos and custom trend reports. Some projects have been larger than others. In July, it worked with Mastercard on “Future Cities,” a branded-content campaign that covered how big cities were updating their infrastructure for the future of travel.
But expanding branded content is a challenge with B2B companies, many of which are still learning about the format.
“When B2B marketers think content, they think of doing research with a big research company, instead of who is going to tell their story best,” Ali said. “Consumer brands understand that better. We’re trying to break through that on the B2B side.”
Dentsu’s new Web3 readiness tool shines light on the tech’s potential to complement AI
Dentsu's Innovation Initiative is launching a web3 readiness index next month — at a time when the industry is obsessed with AI. Could the two technologies actually make a good pair?
Digiday+ Research deep dive: Publishers large and small put their resources into first-party data
Eighty-two percent of publishers overall say they're already using first-party data to prepare for the end of the third-party cookie, and nearly half are requiring users to register and integrating first-party data segments into DSPs – indicating that first-party data is the clear path forward for publishers heading into the post-cookie world.
Media Briefing: Why publishers hope chatbots will be the latest retention tool
Publishers hope the chatbots they are developing will be the latest retention tool to keep readers onsite and to get them to consume more content.
SponsoredHow enterprise-grade CDPs are enhancing data processes and improving customer experiences
Produced in partnership with Marketecture The following article highlights an interview between Martin Kihn, Salesforce’s senior vice president of Marketing Cloud, and Ari Paparo, founder and CEO of Marketecture Media. Register to watch more of the discussion and learn how brands are making the most of enterprise-grade CDP technologies. As brands expand across channels and […]
How programmatic advertising will evolve this year on the heels of audio growth and privacy changes
Comscore’s programmatic division Proximic released a State of Programmatic study highlighting the growth of audio and podcasting, other digital advertising channels and challenges around third-party data.
Why podcasters are selling subscriptions through third-party vendors
Many podcasters are turning to third party platforms like Supporting Cast and Supercast to launch or grow their subscription businesses beyond Spotify or Apple.