Time Inc. to build a standalone portal for video
Time Inc. is launching a platform for digital video content from all its magazine brands, the company announced at its inaugural presentation for the Digital Content Newfronts on Thursday morning at the Hudson Theater in midtown.
The portal, to be called The Daily Cut, will put all of Time Inc.'s video content in one place, Time Inc. senior vice president of video J.R. McCabe, told the audience.
With the announcement, Time Inc., the soon-to-be-standalone publisher of such titles as Time and People, joined the emerging trend of traditional magazine publishers building one-stop clearinghouses for their increased digital video output meant to attract more lucrative online ad dollars. At its own presentation earlier this week, Condé Nast Entertainment announced a similar platform for its digital video content and that of a few partners.
Visitors to The Daily Cut will be able to browse the site by category such as beauty, business and sports, or search among the most shared videos, Jess Cagle, the editorial director of People and Entertainment Weekly, explained as he introduced a preview of the platform. The format of the site appeared to be scrollable lists with items that expand when clicked on.
"Connecting with consumers is what we do best at Time Inc.," Cagle told the crowd Thursday. "We have some of the most exciting and engaging content out there, not to mention unparalleled access to newsmakers and entertainers. It’s too bad we’re not serving alcohol here today, because you could play a great drinking game: every time we say amazing content and unparalleled content...you would get drunk."
The company said it will expand programming to fill the new portal, adding to its 50 recurring digital shows and series. It will also construct a new production studio in Los Angeles and add new partners such as Roku and Daily Motion to its distribution network.
Time Inc.’s digital output pulls 88 million monthly visitors and users spend an average of 22 minutes with its content at a given time, executive vice president of advertising Mark Ford said Thursday.
The publisher is scheduled to complete its spinoff from its parent company, Time Warner, within the next month or so, as chief executive Jeff Bewkes said on a conference call yesterday morning.