In the evolving landscape of media and publishing, the ownership and operational strategies of iconic brands like Entertainment Weekly (EW) have undergone significant transformations. What was once a staple of physical newsstands and coffee tables has transitioned into a predominantly digital entity. This shift reflects broader industry trends, driven by technological advancements, changing consumer habits, and strategic business decisions by media conglomerates.
Table of contents
The Meredith Corporation Era and Subsequent Sale
For a considerable period, Entertainment Weekly was part of the extensive portfolio of the Meredith Corporation. Meredith, a prominent media company, owned a wide array of magazines, including many household names. Under Meredith’s ownership, EW continued to deliver its signature blend of film, television, music, Broadway theatre, book reviews, and popular culture coverage to its dedicated readership.
However, the media industry is characterized by frequent acquisitions and divestitures. In a significant development in 2021, the Meredith Corporation sold its magazine business, including Entertainment Weekly, to Barry Diller’s InterActive Corp (IAC). This acquisition marked a pivotal moment for EW and several other well-known titles.
Barry Diller’s IAC: A New Chapter for EW
Barry Diller, a veteran media mogul known for his strategic investments and leadership in companies like Fox Broadcasting Company and Paramount Pictures, heads InterActive Corp (IAC). IAC is a leading internet company with a diverse portfolio of brands and businesses across various sectors, including media, e-commerce, and technology. The acquisition of Entertainment Weekly, along with titles such as InStyle, EatingWell, Health, Parents, and People en Español, signaled IAC’s intention to reshape these publications for the digital age.
The End of Print and the Digital-First Strategy
One of the most immediate and impactful decisions following IAC’s acquisition in early 2022 was the cessation of the print editions for Entertainment Weekly and the other acquired magazines. After more than three decades in print, Entertainment Weekly officially stopped producing a physical copy, shifting entirely to an online-only model. This move, which occurred around February 2022, was a clear indication of IAC’s digital-first strategy. The rationale behind this decision was to streamline operations, reduce the substantial costs associated with print production and distribution, and focus resources on building robust digital platforms capable of reaching a wider, more globally dispersed audience.
This transition was not unique to EW. Numerous other magazines have made similar moves in recent years, recognizing that digital platforms offer greater flexibility, interactivity, and the potential for new revenue streams through advertising, subscriptions, and sponsored content.
Entertainment Weekly’s Digital Presence and Competitors
Today, Entertainment Weekly operates as a fully digital property, delivering its content through its website and various social media channels. It continues to cover a broad spectrum of entertainment news, reviews, and features, catering to enthusiasts of film, television, music, and pop culture. The digital format allows for real-time updates, multimedia content, and direct engagement with its audience.
In the digital realm, EW faces stiff competition from a multitude of online entertainment news sources, celebrity gossip sites, and other established media brands that have also embraced digital transformation. Its primary competitors include other long-standing entertainment publications like People Magazine and Us Weekly, as well as a myriad of digital-native platforms that cater to similar audiences. To maintain its relevance and competitive edge, Entertainment Weekly leverages various technologies, including Adtelligent, Adswizz, Facebook Web Custom Audiences, and Facebook Pixel, to optimize its online presence and engage with its readership effectively.
Strategic Acquisitions and Technological Adaptations
Beyond its core content delivery, Entertainment Weekly, under its current ownership structure, has also shown a propensity for strategic acquisitions to expand its reach or capabilities. While specific details on recent acquisitions by EW itself are less publicly detailed compared to its parent company, the broader IAC strategy often involves integrating new technologies and services to enhance its digital offerings. This forward-looking approach ensures that EW remains adaptable in a rapidly changing media landscape.
In summary, Entertainment Weekly is currently owned by Barry Diller’s InterActive Corp (IAC). This ownership change led to a significant strategic shift, transitioning EW from a print magazine to an exclusively digital publication in early 2022. This move reflects a broader industry trend towards digital media consumption and IAC’s focus on building and investing in online platforms. While the medium of delivery has changed, Entertainment Weekly continues its mission to provide comprehensive coverage of popular culture, adapting to the demands and opportunities of the digital age.
