Dylan Byers discusses Ben Sherwood and Joanna Coles taking over The Daily Beast, their plans to revive it, focus on profitability, and strategic tabloid content creation in a competitive media landscape.
Ben Sherwood and Joanna Coles aim to inject new energy and profitability into The Daily Beast with a sophisticated tabloid sensibility.
The new leadership seeks to reshape The Daily Beast's editorial focus towards a blend of non-depressing journalism with elements of Vanity Fair and The Cut, targeting modern audiences with playful and mischievous content.
Deep dives
Ben Sherwood and Joanna Coles' Ambitions for The Daily Beast
Ben Sherwood and Joanna Coles, both media veterans, have taken the reins at The Daily Beast to inject new energy into the struggling digital media property. Despite the platform's historical challenges in profitability, the new leadership aims to revive its sophisticated tabloid sensibility and make it a profitable enterprise. Sherwood and Coles, driven by their unfulfilled ambitions in legacy media, see this as an opportunity to reinvigorate a brand with brand equity and potential for success.
The Strategic Direction Towards Buzzy and Profitable Operations
The new heads of The Daily Beast seek to reshape its editorial focus towards a blend of non-depressing journalism akin to parts of the Daily Mail with elements of Vanity Fair and The Cut. With a keen eye on covering celebrities, CEOs, and royals in a fun and cheeky manner, the aim is to attract attention and retain power and influence in the media landscape. Efforts are geared towards creating a buzzy and profitable business through a significant capital investment to resonate with modern audiences.
Challenges and Uncertainties in The Daily Beast's Future
The critical challenge facing The Daily Beast's transformation lies in differentiating itself in a crowded market where various media platforms already exist. The focus on a sophisticated tabloid sensibility requires exceptionally talented journalists to engage and retain audiences in a sustainable manner. While the new leadership intends to infuse the platform with playful and mischievous content, the monetization strategy and long-term viability remain ambiguous, posing significant uncertainties in The Daily Beast's future success.
Dylan Byers joins Peter to discuss what on earth veteran media executives Ben Sherwood and Joanna Coles are doing taking over The Daily Beast, the boutique, once buzzy Barry Diller digital property that nobody else wanted.