Progress Perspective: Ready O.A.R. Not, TV Convergence is On the Horizon
Managing Director Chris Karl provides his perspectives on the innovations in Addressable TV and the future of the TV market. Read more here.
Read MoreProgress Perspective: CES2019 Scouting Report
Co-Authors and Managing Directors Jeff Coon, Bret Brase, and David Arslanian, provide their perspectives on the data, Digital Marketing and Influencer in B2B, and TV/advertising landscapes after attending the Consumer Electronics Show in Las Vegas last month. Read more here.
Read MoreA Banker’s View: RTL Group Buys Yospace
Partner and Senior Managing Director Chris Legg provides his perspectives on the sale of Red Hat to IBM for a blockbuster $34 billion transaction. Beyond the deal's obvious size importance, the transaction provides valuable insight on the current state of the technology M&A environment and serves as a case study on how bankers are generating value for clients. Read more here.
Read MoreA Banker’s View: TMC Market 2018
Partner and Senior Managing Director Chris Legg provides his perspectives on the sale of Red Hat to IBM for a blockbuster $34 billion transaction. Beyond the deal's obvious size importance, the transaction provides valuable insight on the current state of the technology M&A environment and serves as a case study on how bankers are generating value for clients. Read more here.
Read MoreA Banker's View: IBM Buys Red Hat
Partner and Senior Managing Director Chris Legg provides his perspectives on the sale of Red Hat to IBM for a blockbuster $34 billion transaction. Beyond the deal's obvious size importance, the transaction provides valuable insight on the current state of the technology M&A environment and serves as a case study on how bankers are generating value for clients. Read more here.
Read MoreScouting Report: Mobile World Congress 2018
Last month, partner Sam Thompson attended Barcelona's Mobile World Congress where he met with dozens of key innovators and entrepreneurs in the digital advertising and tech space. Read his scouting report for more detail.
Read MoreProgress Perspective: Digital Automotive Industry
Partner and Senior Managing Director Chris Legg provides his perspective on the digital automotive industry after attending MediaPost’s Marketing Automotive conference last month. Read more here.
Read MoreSam Thompson Featured in WSJ Article on "Ad-Tech Company Pledge Toward Ad-Quality Initiatives"
Senior managing director and partner Sam Thompson was quoted in a The Wall Street Journal article on OpenX's recent pledge to invest $25M in advertising quality initiatives. “It’s more than just the budget; it’s about how the company is changing their purpose and values as an operating company so everyone inside is operating toward the same goal,” Mr. Thompson said.
Read MoreProgress Perspective: Where do Video Supply-side Platforms go from here?
The digital video supply-side platform market has existed in a constant state of flux, expanding and contracting, over the last decade. Bombarded with infusions of venture capital, many companies that play in the ad tech space struggle to attain scale, causing investors to lose interest as they burn through their investments.
Read MoreProgress Perspective: What does the future hold in 2018?
Machine Intelligence, in the form of ML, Neural Networks, and self-adapting AI, will grow in importance and significance, impacting all industries in some ways that have yet to be determined. Is it ‘an interest’ or ‘a necessity’ for companies to replace loyal carbon elements with silicon and source code? It depends.
Read MoreProgress Scouting Report: NRF's Big Show 2018 and Retail's Revolution
Yes, physical retail is changing and is not growing as fast as e-commerce, but it is how brick-and-mortar stores approach these fluctuations in consumption pattern – and alter their business models to incorporate automation, personalization, and Artificial Intelligence into their strategies – that they will prevail.
Read MoreProgress Scouting Report: CES 2018
Boasting over 170,000 exhibitors and attendees, CES 2018 positioned the acceleration of technological innovation in B2C and B2B spaces front and center in Las Vegas. With the promise of Artificial Intelligence becoming ever more present and increasingly featured, we found heighted demand for tech companies to deliver ever more sophisticated and networked technology.
Read MoreSpotlight: Fox Forges Future
The much-discussed potential sale of Rupert Murdoch’s Fox assets – even if it never happens – shows the media industry is changing fast, says FTI Consulting’s senior advisor. Read the entire article by Progress Partners EIR, Mary Ann Halford.
Read MoreProgress Connect 2017 in "One Word" (Video)
The partners at Progress were asked what came to mind when thinking about Progress Connect, providing what they believed the best word was to describe this leadership summit. Part of a series of videos taken for Progress Connect. To find more, visit our YouTube channel.
Read MoreProgress Connect 2017 Recap Reel (Video)
On October 11th, Progress Connect welcomed over 300 participants, including 40+ founders, 50+ speakers, and 60+ CEOs, to Boston for a one-day summit about data, transparency, and the future of media. Check our our sizzle reel from the day of networking, discussions, and keynote speakers.
Read MoreProgress Connect 2017 "It's All Future" (Video)
What were some of the key undercurrents that ran throughout Progress Connect 2017? The answer happened to be more of a question: what comes next? Part of a series of videos taken for Progress Connect. To find more, visit our YouTube channel.
Read MoreA Banker's View: Hearst Buys Rodale
Chris Legg is a partner and Senior Managing Director at Progress Partners. Chris lives in Cambridge, MA, and is based in Boston.
Coming into the fourth quarter, we’ve seen some impactful transactions in traditional publishing and print magazines that are closing out the year. The Hearst-Rodale acquisition, feels both relevant and timely as it relates to the current and future state of our media industry.
Hearst has agreed to acquire Rodale (family-owned publisher of Women’s Health, Men’s Health, Runner’s World) for a reported amount of $225 million, expecting to close early in the new year. With Meredith Corp. and America Media Inc. among the reported interested parties, we continue to see a momentum towards consolidation in the magazine and print industry – particularly as we develop new formats for the consumption of all forms of content.
As the magazine industry experiences challenges in maintaining circulation and print advertising / newsstand revenue, consolidation of notable titles continues to be a trend – especially among mid-tier publishers. We’ve seen this through acquisitions like America Media Inc. acquiring US Weekly and Men’s Journal from Wenner Media, the same company looking to sell their majority stake in Rolling Stone.
Rodale’s decline in viewers, ads, and sales is reflected in the reported deal amount, approximately 1X gross revenue. Why is a smart move for both parties? This transaction will up Hearst’s position in the licensing industry (Hearst currently posts $350 million in licensed retail sales, Rodale $155 million) and provides a great home for Rodale. Given Rodale’s focus in the health and wellness publications category, their titles will open Hearst’s client base as they diversify into more demographics, attracting the Rodale client base while at the same time giving Hearst the tools to continue to nurture their strong existing partnerships with other behemoth networks. This strategically sets them up to perform well in the trend of consumption through multiple platforms with a wide array of quality content and expands their library.
Hearst continues the expansion of its global portfolio with Rodale’s established presence in the UK, Netherlands, and Japan, particularly in digital formats. Their existing partnership in these markets has yielded very positive results in response to content. Rodale has struggled in the past to balance its print and digital businesses, which Hearst will address with its proven reach and experience.
As we see more acquisitions roll up and consolidate the traditional media space, the larger platforms have the tools to push the content and technology to react quickly to how the consumer digests content on their multiple devices.
This is a smart move for both parties – we expect to see more consolidation as technology changes the distribution and only those who have access to these tools will survive.
To learn more or if you have questions, send an email to clegg@progresspartners.com or marketing@progresspartners.com.
Progress Connect 2017 "Why this Event?" (Video)
On October 11, 2017, over 300+ C-level and senior leaders from some of the top Media and Internet technology companies in the industry gathered together for one day. Check out the introductory video from our event for a deeper understanding of our firm, partners, and summit.
Read MoreProgress Scouting Report: Dmexco 2017
Data is the world’s “new” hot commodity, and every year we meet companies in Cologne who are transforming both user experiences and marketing effectiveness by using this resource more effectively than ever before. Dmexco brings industry players and rising stars alike to the forefront – enabling innovators across the spectrum to put their progress on display for the rest of the market and give onlookers a glimpse of things to come.
Read MoreProgress Partners' IndustryMaps Highlighted in Digiday's "Oral History of the LUMAscape"
Progress Partners founder Nick MacShane and Davis Rosborough (VP, Progress Partners and Co-founder, IndustryMaps) made their way into the oral history of LUMA Partner's LUMAscapes. Through early work on industry and sector mapping, Davis' IndustryMaps have developed significantly and have come a long way, just as LUMAscapes have. Here is the story of how the Lumascape came to be, from some of those who helped popularize it.
Read More