Notorious outlaw Willie Sutton was famously quoted as saying he robbed banks because “that’s where the money is.” A lot of traditional media companies, ours included, are doing just the opposite nowadays. They’re actively investing in websites and digital startups because that’s where the audience growth is.
Scripps Networks Interactive recently made its second investment in Refinery29, the lifestyle site popular among millennial women. Now, our networks already do pretty well attracting this important demographic group, but the reality is, a lot of younger women (and men, too, for that matter) are spending less time watching traditional television. It’s important that content providers, like our company, remain nimble in seeking new ways to reach them.
This is all part of the overarching strategy at Scripps Networks Interactive: to make our content available anytime and anywhere the consumer prefers.
The media business is evolving rapidly. The best companies plan today so they can thrive tomorrow.