Even as its parent Time Warner works on spinning off Time Inc. into its own separately traded entity, the company has been pursuing a more aggressive approach to programmatic ad sales the past few months -- albeit quietly.
But it will have to go forward without two champions of that process. Earlier today, Chief Revenue Officer Paul Caine announced he will leave the company after 23 years to become CEO of Dial Global, a producer and distributor of audio content. Read the release.
Caine's exit comes ahead of the departure of CEO Laura Lang, the digital vet who was brought in early last year to sharpen Time Inc.'s digital efforts in the face of industry-wide print declines. Lang will step down once parent company Time Warner completes the spin-off of the publisher into a separate, publicly traded entity.
Caine spoke with AdExchanger last week, before announcing his departure. He said Time Inc's plan is to ensure the company's flagship Time, People, InStyle, Entertainment Weekly, Sports Illustrated can resist marketer and agency cherry-picking by presenting opportunities that satisfy both its traditional direct sales model and the choice buyers are demanding.
Caine hadn't let on that he would be leaving, but wanted to make the case that the publisher was more ready now than before to face the digital present and future of the content and ad sales business.
AdExchanger: How does an established magazine company like Time Inc. feel about the trend of audience buying?
PAUL CAINE: Magazines have always been about "audience buying." Brands attract certain types of consumers and those consumers are usually defined by either demography or psychographic group or some level of collective identification that would determine them to be an audience. By that nature, magazines were often bought by advertisers to try to reach a composition of a specific audience. That’s the history of our business. As we go forward the concept of selling audience is not a foreign concept to our medium and as we’ve gone into digital and mobile and tablet we now have even more data that allows us to be more targeted towards audiences in more unique and more dynamic ways. That has been a growth opportunity for us on a consumer level and on an editorial development level.