Vice Media Group’s Cory Haik aims for commerce, consumer to represent two-thirds of digital division’s revenue by 2024

Vice Media Group’s digital division, like many digital media outlets, currently generates the majority of its revenue from advertising. And like many media companies, VMG’s digital arm is on a revenue diversification kick.

“It is my goal to get into 2024 to have a third of revenue coming from ad-supported, a third [from] commerce and then a third [from] consumer,” VMG chief digital officer Cory Haik said in the latest episode of the Digiday Podcast.

She acknowledged the aim “is ambitious for us” but discussed how VMG’s digital division — which is profitable — is already chipping away at the undertaking. Last year the company debuted a new commerce vertical called Rec Room and also introduced a subscription product, Waypoint+, for its gaming publication Waypoint. During the interview, she discussed different ways in which VMG will be building on those initial moves, such as by rolling out affiliate content on new properties like fashion and culture vertical i-D and adding a reader donation option for its news content.

“Our revenue is primarily ad-supported, but we’re opening that up. And we’re very, very bullish on diversification and running hard at that,” Haik said.