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TIME is one of the most iconic brands in the world and they have been on an epic financial run lately.

Time for a thread 👇🏽👇🏽
1/ TIME is an incumbent media company that understands the world is changing.

They have been launching and testing "different programs, partnerships, business models and approaches to set the stage for the continued transformation of TIME."
2/ What got TIME to the top of the food chain won't necessarily keep them there.

They have to build a digital business to replace the legacy business.

And they must do it quickly.
3/ The good news is that TIME's digital revenues grew +58% YoY in Q2 2020.

Digital revenue now exceeds print revenues for the first time in TIME’s history.
4/ The fast growth in TIME's digital business doesn't mean that they are completely ignoring print though.

Their US print subscription revenue over-delivered against the internal projections by +6% and they also increased the margin on the global print business.
5/ Most people will pay attention to TIME's digital revenue growth, but there is an obvious new focus on subscription revenue as well.

In Q2, TIME captured a direct, opted-in relationship with over 1.2 million individuals.

Media sustainability is dependent on subscriptions.
6/ TIME has 4 key areas of focus moving forward:

- Establishing Multiple, Recurring Revenue Streams
- Evolving TIME’s Video & Streaming Strategy
- Increasing TIME’s B2B Deal Sizes
- Continuing our Digital Transformation & Launching a B2C App for Consumers
7/ TIME historically had two subscription revenue streams — TIME Magazine and the TIME for Kids’ print product.

They recently added a third, TIME for Kids digital subscription, with the goal of doubling the number of subscription revenue sources by end of year.
8/ The company has production capabilities and skill sets in-house (TIME Studios), which allows them "to pivot faster and more creatively than most in the industry."

Ultimately, speed kills in the content business.
9/ TIME is known for their content, but they're building a big business under @KeithGrossman's leadership now too.

They've been focused on increasing B2B deal sizes.

This led to their top advertisers spending more in first half of 2020 than they did in all of 2019 combined.
10/ The TIME business will continue to grow as they transition to digital.

TIME NEXT is an effort for their engineers and tech teams to focus on the following five priorities:

- Subscriptions
- Video
- Mobile App
- Revenues
- Support

TIME must embrace tech and innovation.
11/ Multiple shifts are happening simultaneously in media:

- Print to digital
- Ad to subscription
- Outsourced to vertically integrated
- Content to IP
- People to technology

TIME is an iconic brand clearly articulating these shifts.

Question is can they thrive in new world?
12/ Too many incumbents talk about acting like startups.

They want to change. But change is not always necessary.

Sometimes being the incumbent is an advantage. They should lean in to it, not avoid it.

A gorilla is harmless unless they are willing to act like a gorilla.
13/13 The TIME business has stood the test of time.

They'll continue to thrive if they can combine the iconic brand with digital products, subscription revenue, and out-of-the-box thinking.

I wouldn't bet against them.
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