With in-house branded content studios becoming a standard part of any publication’s business model, some may be looking to the next step, graduating from creating one-off campaigns to going full-blown consultancy. For Wednesday’s Elevate summit, Adweek gathered a panel of five execs from media companies that have set out on that journey. Panelists shared their experiences and provided valuable insights into what other organizations should think about and plan for before making the jump.
“I don’t think anyone has found the perfect model yet,” said Sebastian Tomich, svp of advertising and innovation at The New York Times. That’s a sentiment that has long been clear for anyone working in media in the digital age, but it comes this time with a reminder that there is a lot of room to experiment.
Spencer Baim, Vice Media’s chief strategy officer and founder of its creative agency, Virtue, agrees.
“The system itself is in need of a big shake-up to benefit everyone,” Baim said—even with the attendant risks. “If Vice and the brand come together to work on something, we’re not hidden, and we’re putting ourselves on the line every single time. Every time we do something, the world knows we’re doing it.”
For some publications, the evolution feels like an organic complement to their core audience and coverage areas. Wedding site The Knot, for example, is responding to the needs of wedding vendors across the country.