Franchise focus and AI experimentation
Under the ownership of billionaire Salesforce founder Marc Benioff, who acquired the company in 2018, Time has invested heavily in modernizing its digital business, and furthering that effort is a primary focus for Howard.
To spearhead the initiative, the publisher has made a series of key personnel appointments in recent months.
In November, it hired the former COO of Forbes, Jessica Sibley, as its new CEO, and in January, it brought aboard Sadé Muhammad, also from Forbes, to serve as its chief marketing officer.
In April, the publisher promoted Sam Jacobs, formerly the deputy editor, to serve as its editor-in-chief, the youngest person to do so since co-founder Henry Luce in 1922. Jacobs replaced Edward Felsenthal, who remains executive chairman and a contributing editor.
As part of this broader evolution, Time has taken substantial steps to expand its revenue portfolio.
In particular, the publisher has sought to more effectively monetize its brand equity through tentpole franchises and events, such as Time100 and the Time Person of the Year. It has also expanded several of its franchises globally, hosting events in locations including Singapore, Ghana and Israel.
These franchises act as a differentiator for Time, a key factor as publishers compete for advertisers’ limited ad budgets, according to Howard.
Howard also points to recent editorial innovations from Time, including its debut of AI-powered quizzes, as evidence of a broader spirit of experimentation he hopes to accelerate. Under his predecessor Felsenthal, Time became one of the first publishers to embrace the potential of cryptomedia, minting and selling a magazine cover in March 2021 for $435,000.
“We have been really focused on these paths forward to represent what Time will look like in this second century,” Howard said. “You will see innovative thinking and creative approaches when we go to market.”
