MCN CEO Profiles -- Your Michelin Guide to Who’s Hot

All in one place -- consolidated for your consumption -- easily digestible.  Here are my recent detailed interviews and individual profiles of leading MCNs and their CEOs (ok, in one case, President & COO).  All of these MCNs (identified in alphabetical order) are important.  And, all of these execs -- each of whom I have come to know -- are passionate about (and authentically into) their individual missions.

I am a believer in each of them ... and you may find their insights to be enlightening ....

DanceOn and CEO Amanda Taylor

StyleHaul and CEO Stephanie Horbaczewski 

Tastemade and CEO Larry Fitzgibbon

Whistle Sports and CEO John West

Here’s my bonus “under the radar” pick -- which is not quite an MCN, but is in the same world --

Jukin’ Media and President Lee Essner

DanceOn - EXCLUSIVE Insights from CEO Amanda Taylor of Dance’s #1 MCN

As you know, I follow the multi-platform media/MCN space very closely.  Last week, I featured an interview and studio tour of leading foodie-focused MCN Tastemade.  Today’s featured CEO is Amanda Taylor, founder & CEO of leading dance-focused MCN DanceOn (with 11 million subs, 70 million monthly video views, over 2 billion total views, and 8.3 million fans across Facebook and Twitter).  DanceOn’s all-star list of founders and investors include Madonna, Nygel Lythgoe (creator of “So You Think You Can Dance” and “American Idol”), and Allen DeBevoise (founding father/godfather of the MCN world).  Manatt Digital Media is also an investor, as am I individually.  We are believers.

Last week, Amanda and head of sales Mike Praw joined me and others from the Manatt Digital Media team for an informal brown bag lunch to hear more insights -- more about who they are, where they are, where they plan to go.  These are some of those insights from our special session:

(1) DanceOn’s Focus -

-- Amanda underscored that DanceOn focuses on “dance videos," not “music” videos; music videos feature music artists

(2) DanceOn’s Core Demo & Overall Market Opportunity -

-- 63% of viewers are female, 50% are “multicultural,” and 61% are in the coveted 13-34 age bracket

-- the market opportunity is “massive” in Amanda's words -- why?

-- 3.5 million children (K-12) in the U.S. take formal dance education from dance specialists (out of a total K-12 population of 50 million)

-- additionally, 43% of U.S. kids K-12 have taken dance class taught in their schools 

-- dance “travels” well internationally, since there is no language barrier
-- no other single multi-platform dance-focused media company exists, and “bite-sized” dance video works well for the smart phone/tablet world

(3) DanceOn’s Business Model -

-- advertising-focused video on demand (AVOD) -- a primary component

-- sponsorships, including branded integration/content -- a primary component -- and the company has had major traction already with several of the biggest brands (examples include Coke, Unilever)

-- syndication opportunities to other platforms (including television) -- but Amanda stressed that these are only interesting where the DanceOn brand is featured and preserved

-- interestingly, unlike some other leading vertically-focused MCNs like StyleHaul and Tastemade, commerce is not a key element of DanceOn’s business model; the company is NOT a commerce play; DanceOn’s core/essence is pure entertainment

-- the company is now dipping its toes into the live event space and has its first major event at the LA Convention Center this Friday, August 29

(4) DanceOn's Pitch to Professional Dancers/Creators

-- Amanda tells me that, at most, professional dancers can earn $120K/year in the “traditional” model and with traditional platforms; but digital platforms open a new world of monetization opportunities; and, even more, now professional dancers can build their individual brands and monetize in myriad ways that go well beyond dance (which already is happening with some dancers on the DanceOn roster)

-- a key part of DanceOn’s pitch to professional dancers is to directly address their relatively short professional “shelf life” -- i.e., DanceOn helps dancers maximize opportunities now in a Carpe Diem kind-of-way

-- and, because professional dancers can build their individual brands, they can also extend those brands into different areas beyond dance as they mature 

(5) DanceOn’s Biz Terms with Talent

-- DanceOn has exclusive digital relationships with its talent roster, but Amanda tells me the company is not an agency

-- the company's talent can utilize the DanceOn platform as a springboard to showcase their talent, build their brand, and move well beyond digital (and into all other platforms, including traditional media) on their own

(6) Future Plans -- Where They Are Going

-- DanceOn's video content is almost exclusively non-scripted now; but the company already develops significant original programming, a natural extension of which ultimately is to move beyond its current focus

Definitely an MCN to watch.  And, an MCN that was founded with the same fundamental principles shared by Larry Fitzgibbon of Tastemade (as well as essentially all other major MCN CEO/Founders whom I have come to know) -- authenticity and passion.

Refreshing!

Tastemade - My Interview & Studio Tour with CEO Larry Fitzgibbon of the Leading Food MCN

Tastemade is a leading MCN -- and is THE leading MCN focused on food, nothing but food.  The company’s mission is to be “Connecting the World Through Food.”  And investors have bitten -- to the tune of $25 million in their latest round led -- predictably (and smartly) -- by Scripps Networks Interactive (owner of, of course, the Food Network).  Mega-media companies Comcast (via Comcast Ventures) and Liberty Media also are investors in the company’s latest round (which is on top of $15 million previously invested).

Yesterday I drove down the street to Tastemade’s Santa Monica, California headquarters and studios and met with CEO Larry Fitzgibbon (the picture to the right is the unassuming exterior of Tastemade studios, which previously housed MTV).  Larry and I had previously crossed paths a couple of times -- while I at SightSpeed and he at CitySeach; and while I at Sorenson Media and he at Demand Media.  Demand Media is where Larry honed his chops for short-form video content.  After Demand Media’s IPO in 2011, Larry and his other co-founders used their recipe of best practices and mixed in key ingredients of experience, learnings (e.g., focus on a passionate target audience/vertical market and build a brand), expertise, and passion for food to bake Tastemade.  And, here we are.  (The picture below and to the left is one of several fully functioning production kitchens in the studio, this one being more urban and hipster-focused; while the picture further below and to the right is the kitchen typically used more for live audience demonstrations).

Larry shrugs off the label “MCN,” choosing instead to call Tastemade a “Modern” media company.  I mentioned to him that it was intriguing for him to use that word (“modern”), because that is a rarely used word in this day and age.  His response to that was equally intriguing -- i.e., “we are not a next-gen media company, because the audience has already migrated to digital platforms.”  Amen to that!  And, Tastemade’s content is developed natively for those digital platforms unlike content produced for the Food Network or other traditional platforms like television (that is then frequently ... and frequently clumsily simply carted ... over to digital channels).  Different strokes (content) for different folks (platforms).

And, here’s the interesting thing about Tastemade as opposed to many other major “MCNs” (yes, I am generalizing for ease of reference).  Most major MCNs have thousands of channels.  Not Tastemade.  Tastemade counts about 300.  And every single one of them -- every one -- is identified by pin, string, and individual profile on a massive world map on one main wall inside the company’s offices.  Yes, old world recognition by a new world “modern” media company for the old world art of cooking and food.

Here’s another one.  Tastemade’s app (which is really cool, by the way, you should try it out) enables anyone -- you, me -- to be a “foodie” and instantaneously and drop-dead easily make a beautiful professional video at our favorite restaurant while we order our food and enjoy our meal.  Everything is automated (editing, etc.) -- and you can also select music tracks to accompany your “rave” (not reviews, because reviews can be negative) of your food experience so that others can enjoy.  But here’s the punchline.  Every single prolific Tastemade raver has his/her picture and profile on that same Tastemade office wall in an old-world format (via post-its this time), so that the Tastemade team sees their audience, their users, all day, every day.  It is a great authentic reminder of what it is all about -- to connect the world with food! Bravo to Larry and his team for those nice human touches.

Tastemade now gets 18 million unique visitors per month and its core audience is, not surprisingly, 18-34 and about 60% female, with over 50% residing outside of the U.S.  This truly is an international play, because food travels well (at least digitally).  The company’s business model is, as expected, primarily ad-driven (including significant branded content and sponsorship opportunities).  But, the company -- like all other MCNs (and virtually every media company, period!) -- is also experimenting with paid content (via subscriptions and/or micro-payments for access) and ultimately with relevant commerce opportunities.

It’s only a matter of time until some big fish devours them ...

(The picture to the upper left is another interior shot of the studios, while the picture to the lower left is the bar used for viewers to learn about libations and where the Tastemade team will celebrate their inevitable liquidity event.)