Billboard sets for social expansion with four big acquisitions
The Hollywood Reporter-Billboard Media Group is extending its digital and social reach with the acquisition of some big name digital music brands including Spin, Vibe, Death and Taxes and Stereogum.
In acquiring these outlets, Billboard will now be able to reach a massively expanded audience of millennials on social media. The group is looking to use that extended reach to improve its social marketing capabilities and reach a hipper, younger audience.
"In recent years, we set out to own the topic of music online, and the acquisition of these incredible music assets helps us do just that," said Media Group co-president John Amato. "By making these brands part of our family, The Hollywood Reporter-Billboard Media Group will be able to fully capture the value of millennials and music, and continue to strengthen its leadership position in this critical arena."
In the new modern mobile era when social media and digital marketing are more important than ever, one of the best things big brands can do is extend their social reach.
With every additional follower or subscriber, their social marketing abilities increase and give them a larger audience to work with.
For many big brands, increasing their social media reach is a big priority.
Billboard is exemplifying this ambition in its acquisition of some big music media outlets ? namely Spin, Vibe, Stereogum and Death and Taxes.
Each of these media companies have their own robust audiences built in that have been carefully cultivated over the years. With all of these new properties under its belt, the Hollywood Reporter-Billboard Media Group now has an audience totaling 45 million people to connect with.
With an audience of that size, the brand will now have the ability to take its social message to not only more people, but people of a valuable demographic ? millennials.
The three acquired media groups ? Vibe, Spin, Death and Taxes and Stereogum ? all boast a large audience of millennials and will be Billboard?s main target once the deal is in place.
Plans are already being set into motion with the newly acquired groups to expand their video initiatives. Billboard is already serving 100 million video views monthly and the group is now creating content for Facebook Live.
These social marketing expansions have already proved to be popular and effective.
Just recently, the newest Star Wars film Rogue One shot to number one with $290 million box office performance thanks to an extensive social marketing campaign (see story).
With these new partnerships, Billboard is set for similar social successes.
"Bringing in these historic brands under Billboard allows passionate music audiences to enjoy rock to urban to pop in one massive portfolio," said Media Group co-president Janice Min. "The power and scale of these combined, complementary digital assets will deliver more ways to reach our audience through TV, video, live events, social and online through these brands."