Click For Photo: http://static4.businessinsider.com/image/59973f45f1a85077738b53b8-1190-625/galore-the-publishing-company-focused-on-16-to-24-year-old-women-has-flipped-medias-business-model.jpg
Galore Media says traditional ads just don't work for Gen Z, the 70 million people born between 1996 and 2010.
Instead it focuses on creating content for marketers and connecting them with influencers.
Everybody - Media - Company - Future
"This is how everybody will have to build a media company in the future."
When the digital-media company Galore talks to prospective advertisers, it tries to sell them on its social-media network, its ability to make content for brands, its relationship with influencers, and its track record of producing events. It barely bothers selling them paid ads.
Mike - Albanese - Galore - CEO - Years
Mike Albanese, Galore's CEO, said that even just a few years ago, digital-media companies looking to capture the millennial market were focused on a fairly traditional ad strategy.
"Let’s make a lot of content, figure out how to drive lots of traffic, get some big audience numbers, and kind of wrap advertising around it," Albanese said. "That no longer holds up."
Today - Albanese - Display - Ads - Website
Today, Albanese says, "display ads on a website just aren't going to get you there, especially with a generation of consumers who don't even think of websites — and if they do, they use ad blockers," he said. "There are just too many challenges with that model."
As an alternative, Galore operates as a specialist agency for its advertisers, helping them make ads, distribute content (videos and photos), and reach a community through a number of outlets.
Media - Companies - BuzzFeed - Condé - Nast
Many media companies, from BuzzFeed to Condé Nast, have edged into making content and ads for paying marketers. Vice Media operates its own global ad agency. Yet they all still sell lots of ads.
In Galore's case, the ads-are-secondary approach may simply represent a unique strategy for a publication that is focused on a hard-to-reach demographic: women between the ages of 16 to 24. Or it may be a harbinger in an industry where young consumers are increasingly able to avoid...
Wake Up To Breaking News!
Communist, Socialist, Democrat, Republican, at this point, what difference does it make.