content & commerce: the digital cronut (ben lerer, sxsw)

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@BENJLERER @THRILLISTMEDIA #DIGICRONUT

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Page 1: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 2: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

It’s the BEST TIME EVER tostart a digital media company.

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 3: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

MOBILE

Social

BroadbandAmazon Web Services

Modern Publishing Tools

Google/Search

Smartphone Proliferation

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 4: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 5: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

There is a big UNTAPPED OPPORTUNITY in digital media.

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 6: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

Currently Tapped Revenue Streams:

1. Advertising

2. Subscription

3. Events

4. Licensing@BENJLERER

@THRILLISTMEDIA #DIGICRONUT

Page 7: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

Let’s Look Closer:

1. Advertising2. Subscription

3. Events

4. Licensing

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 8: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

UNLIMITED INVENTORY

Digital Ad Inventory > Advertiser Demand

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 9: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

BRANDS ARE PUBLISHERS

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 10: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

Mass Reach / Direct Response SolutionsConsume Majority of Ad Dollars

FACEBOOK

ProgrammaticGoogle

Ad Networks

Pinterest

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 11: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

When Traditional Media worked, it didn’t have this problem

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 12: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

Advertising Spend:Online vs. Offline

(this will continue…)

2011 2012 2013 2014 2015 2016 20170

10

20

30

40

50

60

70

PrintDigital

Billions

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 13: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

Annual Revenue for Digital Publishers

Yearly Revenue0

20

40

60

80

100

120

LESS THAN$100 MILLION

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 14: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

A Challenge For Publishers to Overcome

PREMIUM

REMNANT inventory

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 15: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

Let’s Look Closer:

1. Advertising

2. Subscription3. Events

4. Licensing

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 16: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

Substantial Subscription Revenueis limited to very few publishers.

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 17: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 18: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

Let’s Look Closer:

1. Advertising

2. Subscription

3. Events4. Licensing

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 19: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 20: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

Let’s Look Closer:

1. Advertising

2. Subscription

3. Events

4. Licensing

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 21: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 22: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

There is a big UNTAPPED OPPORTUNITY in digital media.

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 23: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

COMMERCE!

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 24: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)
Page 25: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

We grew to be aDecent-Sized business

01,000,0002,000,0003,000,0004,000,0005,000,0006,000,0007,000,0008,000,0009,000,000

2006 2007 2008 20092005@BENJLERER

@THRILLISTMEDIA #DIGICRONUT

Page 26: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

“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

Page 27: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)
Page 28: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

READERS

BUYERS

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 29: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

Huge Increase in Lifetime Value

Shitloadof Value

No Value@BENJLERER

@THRILLISTMEDIA #DIGICRONUT

Page 30: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

80% commerce

20% advertising

Massive Commerce Business

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 31: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

We DON’T have this problem

PREMIUM

REMNANT inventory NATIVE commerce

PREMIUM

Typical DigitalPublisher

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 32: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)
Page 33: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)
Page 34: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

$100M+EXPECTED 2014 SALES

2M+PACKAGES TO BE SHIPPED IN 2014

Source: Internal

Page 35: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

Huge Increase in Lifetime Value

$3-$20Premium Brand

RPM

$100+Thrillist Media

RPM

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 36: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

Yearly Revenue0

20

40

60

80

100

120

LESS THAN$100 MILLIONMORE THAN

$100 MILLION

Annual Revenue for Digital Publishers

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 37: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

The Kicker:Understanding purchasing behaviorsalso makes for a better ad product

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 38: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)
Page 39: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)
Page 40: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)
Page 41: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)
Page 42: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)
Page 43: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)
Page 44: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

1M+Credit Cards

on File

7M+Logged In

Users

2M+Packages to beShipped in 2014

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 45: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

There is a big UNTAPPED OPPORTUNITY in digital media.

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 46: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

You can do it!

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 47: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

You can do it!

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 48: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

You can do it!

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 49: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT

Page 50: Content & Commerce: The Digital Cronut (Ben Lerer, SXSW)

Thank You.You are my ONLY friends.

@BENJLERER @THRILLISTMEDIA

#DIGICRONUT