How Time magazine made more than $100 million (25% of it's revenue) with docuseries for Netflix, Amazon, and more by mining its 100-year-old archive?
To survive, publishers have had to find new revenue streams, and an increasingly popular option is selling their backlog to Hollywood, per Axios.
Time's projects include:
How does it fit the Time brand?
Time Studios are very deliberate in what they get behind. As a result, their success rate is very high. Every project they consider is always viewed through the Time brand. It would be very easy to end up with a slate of newsy, earnest, soft projects. But that's not what their slate looks like.
One of the challenges that production companies often have is, you'll have a great idea for a project, but to go out and secure the money takes three, six, nine months or a year. And that project may have evaporated in that time. Time has a competitive advantage: MONEY! The publication can pour money into the parent brand and create productions to pitch to the streamers.
We can see from publications like The Atlantic, Texas Monthly, and now Time magazine that the production world pays well.
To survive, publications must find new revenue streams, and production is the best option.
Netflix, HBO, and Prime are great examples of streamers that buy and bid on content that will drive viewer engagement, and these publications have years of experience in determining what the audience wants to watch.