Condé Nast expects digital to generate 30% of total revenue in 2014
Luxury brands are arriving fashionably late to the digital ecosystem, and high-end publisher Condé Nast hopes they will propel digital spend to 30% of total revenues within the next 18 months, says digital leader Jamie Jouning.
Jouning, who has been Condé Nast’s digital director since January 2010, attributes growth to a combination of structural changes within the publishing company and a increasing acceptance of digital as a suitable ad platform among luxury brands.
“Digital of two years ago was a bit of a scary place for many of our luxury advertisers,” he admits. “There was some fear about damage to their brand and integrity.
“It’s changed over the past 12 to18 months. You wouldn’t have seen the likes of Dolce & Gabbana, Prada, Burberry, Tiffany, Rolex or Omega, on our websites. Now, most advertisers in our print magazines want a digital conversation as well, and they are beginning to spend sizable amounts of money.”
He adds: “It’s an aim for digital to be worth 30% of total revenues within the next 18 months.”
His comments add to the growing evidence that digital, once the bastion of search and direct response, is strengthening its credentials as a branding platform.
It’s something the commercial leaders at Mail Online told me too when revealing the site had turned a profit for the first time back in July.
Although still early days, build it and they will come, appears to hold true. The more digital publishers experiment with creating bespoke solutions around their content, in addition to the standard banners and buttons, the more interested brand advertisers seem to become. My full interview with Jamie Jouning is available here.