Refinery29
Philippe von Borries (L) and Justin Stefano (R) cofounded Refinery29 in 2005.
- Female-focused digital
media company Refinery29 is the latest publisher eyeing OTT expansion, and plans to launch its very own live and on-demand lifestyle channel in late 2018. - The channel will bring together video, events and shopping on a single destination, across a variety of connected devices as well as the company's existing digital platforms.
- The company plans to monetize the channel with native branded integrations with its programming.
Turns out, more digital media publishers want to take a page from video startup Cheddar's playbook.
Refinery29, the female-focused digital media company, plans to launch its very own live and on-demand lifestyle channel. The company timed the announcement with its presentation at the Interactive
"Channel 29" will go live in the fourth quarter of 2018, bringing together video, events and shopping on a single destination, across a variety of connected devices as well as the company's existing digital platforms.
"Everything that we do is rooted in what our consumers want," Sarah Personette, Refinery29's chief operating officer, told Business Insider. "Channel29 will take the best of Refinery29, and bring it to our audiences in the way they want it."
In a digital ad market that continues to be dominated by Google and Facebook, publishers have been trying to figure out sustainable business models. Refinery29 is no different, and was forced to trim 7.5% of its staff back in December 2017.
In such a climate, the move is a bid by Refinery29 to expand its core businesses and deepen the relationship it has with its audience. The publisher was encouraged by video engagement and viewership growth across its platforms. Over the past year, for example, time spent on Refinery29 video has reached 4.1 billion minutes.
"We've been watching this audience and how consumer appetite for OTT content has grown," said Amy Emmerich, Refinery29's chief content officer. "And we've always been in playing in the livestreaming space - the only difference is how we stay focused on a specific channel versus doing multiple programs."
Channel 29's content will be a mix of both short-form premium digital content as well as two hours of live programming daily, focusing on everything from pop culture and entertainment to home and travel
It will also make a conscious effort to feature "radically inclusive content that subverts category norms," bringing new perspectives to trending news, fashion, beauty, shopping and wellness, according to the company.
The channel will initially be streamed on the publisher's own redesigned website, Facebook Live and YouTube Live, as well as on connected devices such as Apple TV and Roku.
"We want to flip traditional TV on its head," said Emmerich. "Our goal is to break up the clock - and not stick to 22 minutes or 40 minutes of programming. Our ideal block would be six to 15 seconds in length."
Refinery29 does not have plans to monetize the channel by selling traditional pre-roll or mid-roll ads, at least not initially, and is instead seeking out brand partners for native integrations with its programming. A beauty brand, for instance, could theoretically sponsor a live segment on the latest contouring trend.
The company is in sponsorship discussions with several of its current brand partners already, said Emmerich. The hope is that its NewFronts presentation will help close some of those deals as well as generate more excitement and buzz, according to Personette.
Refinery29 is not the only publisher eyeing expansion in over-the-top (OTT) streaming. Condé Nast too announced that it was expanding its OTT offerings, with channels for Wired, Bon Appétit and GQ at its NewFront presentation this week.
But Refinery29 believes it has an edge over its competitors.
"Our differentiator is that we're bringing live events, shopping and premium content all together," said Personette. "Through our insights into our audience and who they are today, we're able to authentically integrate them into our brand experiences."