Conde Nast like every other publisher is always on the hunt for new ad revenue. The company’s latest attempt to attract a “diversity of advertisers” comes in the form of a new digital brand network which will include brands like The Hive, AD Clever, Basically, Healthyish, GQ Style, Teen Vogue and Lenny Letter which was recently at Hearst. Lenny Letter will be transformed into a full digital brand. The new network will be called Next Generation Network (They didn’t even try). Conde is pooling these brands together with hopes of reminding marketers that they too have direct lines into the overly coveted Gen Z and Millennial demo which many analysts have argued is in a state of fatigue due to saturation.
Explains Conde Nast Revenue/Marketing Chief Pamela Drucker Mann:
“Over the past year, we’ve created new brands and partnerships from next gen storytellers and formed the foundation of our Next Gen Network, which engages and inspires the most influential consumers across all platforms and categories. Our advertising partners can leverage the power of the Network to reach consumers in new and innovative ways. From co-creating content to integrating into tentpole events that deliver a new level of connection and interaction with today’s millennial and Gen Z audiences.”
Conde Nast like many other publishers continue to reinvent the wheel when it comes to their ad business. Pooling select brands into a new network seems to be the default move. Innovation is lacking in media companies like Conde Nast. A lack of innovation in addition to other reasons is what ultimately killed Time Inc and what will kill other publishers in the future, digital and/or legacy.