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Behind a Former Hartbeat CEO’s Bet on BuzzFeed Channels

By Nat Ives | WSJ Leadership Institute

 

Good morning. Today, old BuzzFeed sub-brands could be the start of something new for creators.

Close-up photo of Thai Randolph

Thai Randolph, the former CEO of Kevin Hart's Hartbeat, plans to build a house of creator brands. Joey Rosado

The former CEO of Kevin Hart’s production company has acquired two largely dormant BuzzFeed properties to serve as the foundation for a new house of creator brands, Katie Deighton reports exclusively for the WSJ Leadership Institute.

Thai Randolph’s Nile & Co. plans to expand As/Is from a body-positivity channel to a “whole-life platform” for successful women “who are done accepting the terms as written,” while Goodful’s focus will grow from health to “the intersection of wellness and wealth.”

Once they’re back up and running as media businesses in their own right, the plan goes, they can help promote other companies that Randolph intends to co-found with creators, athletes and other celebrities.

That promotional assist is a big part of the pitch to stars.

“I’ve really spent time in deep partnership with creators, I’ve seen the opportunity and how successful that can be,” Randolph said, referring to her work with comedians linked to Hart’s business ventures, as well as the artists she works with as strategic adviser to LL Cool J’s hip-hop media brand, Rock The Bells. “I’ve also seen how cumbersome that can be.”

Can multiple creator/celebrity brands smooth out the hits and misses?

Famous faces give brands a boost but can’t guarantee success.

Alix Earle’s new skincare line last week sold out online in hours, and Hailey Bieber’s beauty brand Rhode sold to E.l.f. Beauty last summer for $1 billion. But Gwen Stefani’s makeup line also shuttered in February, not long after Kate Moss’s Cosmoss brand entered liquidation.

The fluctuations of celebrity, creator saturation and corporate competition are all risks. 

Xcel Brands, founded in 2011 with a takeover of Isaac Mizrahi’s namesake fashion line, has since sold a controlling stake in the Mizrahi business and is signing up new partners like ​​TikTok chef ​​Jenny Martinez, YouTube baking-show host Gemma Stafford and “first digital supermodel” Coco Rocha.

More in celebrity brands: Kylie Jenner’s Sprinter vodka announced an expansion into drink mixes for skin health. [Food Dive]

Hailey and Justin Bieber introduced their first Rhode collaboration (“spotwear,” aka pimple patches). [Cosmetics Business]

 

The Magic Number

$500,000

Price that BuzzFeed’s latest annual report said the company got for As/Is and Goodful, for a loss of $800,000

 
Content from our sponsor: Deloitte
In Field Service, Tech Maturity Pays Off With Customer Satisfaction

Field service management solutions, generative AI, and predictive services can help companies achieve better customer and business outcomes while lowering costs, according to new research. Read More

More articles for CMOs from Deloitte
 

Blocked

Law firms seeking plaintiffs to sue Meta Platforms are losing a key advertising channel: Meta Platforms.

Meta this morning began removing hundreds of ads from Facebook and Instagram that trial lawyers and marketing companies have been running to find new clients, Erin Mulvaney and Meghan Bobrowsky write.

“We will not allow trial lawyers to profit from our platforms while simultaneously claiming they are harmful,” the company said.

Why now? Erin and Meghan point out one likely factor:

Last month, a Los Angeles jury found Meta and YouTube liable over a young woman’s claims that her addiction to social media caused a host of mental-health struggles. The case served as a test for other suits. Several more trials are planned for this year, including a trial in Oakland this summer in federal court over a school district’s claim that the platforms harm their students.

One ad showed a child riding a bike on one side and the same kid in a dark room looking at a phone on the other, accompanied by the text:

“Before social media, she played outside. She laughed. She was present. After social media, she disappeared into her phone. This isn’t growing up—it’s what happens when an algorithm replaces a childhood.”

 

Imagine the Pink Slips

Josh D'Amaro speaks holding a microphone

Disney CEO Josh D’Amaro is trying to free up money to invest in digital businesses where it sees growth potential. Getty Images

Disney is preparing to make sizable layoffs in one of the first big moves under new CEO Josh D’Amaro, Joe Flint and Ben Fritz report, many of them in the company’s recently consolidated marketing department.

The entertainment company is planning to eliminate as many as 1,000 positions in the coming weeks, according to people familiar with the matter, continuing a series of cuts that already includes 8,000 people laid off since D’Amaro’s predecessor, Bob Iger, returned as CEO in 2022.

Disney in January combined marketing for entertainment, experiences and sports under a single CMO, Asad Ayaz, for the first time.

Ayaz’s plan to unite the marketing group and reduce expenses is code-named Project Imagine—disturbingly cheerful branding for my taste.

 

Quotable

“It may take us a while to find experiences better than what we have now, and it
may take consumers time to adopt these
new experiences. But, history shows the ‘straight line was a lie.’ Everything gets reinvented. And, if you want to be finding that next zig, you need to be willing to go back
to first principles.”

— Amazon CEO Andy Jassy in his annual letter to shareholders, arguing that the company needs to reconceive the customer experience “from a clean sheet of paper” with AI in mind, not just “add a little AI to the existing experience”
 

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Keep Reading

Alexandr Wang speaks into a microphone

Meta’s new model represents an achievement for Chief AI Officer Alexandr Wang, the former Scale AI CEO hired by Mark Zuckerberg as part of a $14 billion deal. Ruhani Kaur/Bloomberg News

Meta Platforms announced a new large language model, its first major new artificial-intelligence model in more than a year. [WSJ] 

Ad-supported streaming service Tubi has made an app available for ChatGPT as part of its broader embrace of AI. [WSJ] 

AMC Networks rebranded as AMC Global Media to put more emphasis on its streaming businesses like AMC+ and Acorn and less on its cable TV properties. [THR]

Paramount President Jeff Shell is leaving the company amid a legal battle with a professional gambler who says the executive reneged on a promise to make a TV show. [WSJ] 

Three years after the previous owners sold Simon & Schuster, Paramount is returning to the book business to publish stories based on its existing IP and to develop new properties. [THR] 

Normally dusty billboards along the I-10 from Los Angeles to Indio are bursting out with their annual displays for Coachella performers. [Fast Company]

“Mormon Wives” star Whitney Leavitt was named chief creative and brand officer at Cool Sips, the New York dirty soda shop chain, which is adding a menu option called “The Whitney.” [Food & Wine] 

Apple’s latest move to soften its tech-elite branding is an adorable mascot called Little Finder Guy. [Creative Bloq]

How to make money running a gas station: Put a speakeasy in the back. [WSJ] 

 
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We bring you the most important (and intriguing) marketing and experience news every day. Write me at nat.ives@wsj.com any time with feedback on the newsletter or comments on specific items. We want to hear from you.

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