According to a report published in the Wall Street Journal on Tuesday, July 11th, Time, Inc. is considering re-branding itself under a new corporate name. The thinking is that a new name would show that the company is a digital media and video firm rather than an old school legacy print publishing company.
According to the story, executives at Time, Inc. have already met with “branding firms” (The fact that such corporations exists suggests to me that I have been in entirely the wrong sort of career) and have held preliminary discussions about a name change.
Of course Time, Inc. would not change the names of their magazines. That would be silly. Just the company name would get a refresh.
I completely get why the executives at Time would want to do this. Time, Inc., as it exists today is not the Time, Inc. that we were familiar with years ago. The magazine division, what we’re talking about today, was spun off from the rest of the company in 2014 and kicked off into the corporate world loaded down with millions of dollars in debt (Sound familiar, Source Interlink veterans?).
The media world is filled with story after story after story about the decline and fall of the print magazine world. Apparently, no matter how hard we try, how much we diversify, the image of magazine publishing is firmly locked in “old school” in the eyes of the advertising world.
So I get it. New name. New focus. New business plan. Maybe even a whole new crop of steely eyed executive vice-presidents who can look at the big picture from 30,000 feet with a singular focus and dispassionately decide which cars to park and which cars to drive. With a new name and a new brand to show the world, the whole paradigm will shift and they will find amazing new synergies with which to delight their customer base. Just watch. The ad dollars will pour in once again.
In other words, Time, Inc. Please don’t. Don’t jettison your history, your roots, the meaning of who you are. You’re a magazine company (Even though that does mean something different now). The media business. You inform and entertain. People know who you are. We know that what you write (and video, and blog, and tweet and snap and gram) is accurate and trustworthy because that is who you are. Your history is your future. Believe in yourself. You can sell this.
Because here’s the thing. Corporate “re-branding” in the publishing world usually doesn’t go all that well. Remember when Petersen was sold to EMAP and became EMAP-USA? Is that something you do when you’ve got a fish bone stuck in your throat on the 4th of July? K III? Which iteration of Primedia should we discuss?
You see, this…
…is a legendary, world renown publisher of magazines and digital content that needs to find its way in the new world that we live in. We all experience identity crisis in our lives. We either find our way and thrive. Or we won’t. Would a new identity celebrate the foundation? The roots that make the Time, Inc. reputation for journalism shine?
I wonder. Because this…
…was a well-respected publisher of newspapers and national and local content (including digital and video) that decided to rename itself.
This is what they “re-branded” themselves and became…
…which apparently means something and is supposed to look cool. But really, it looks like one of those Starbucks Frappucinos and sounds like the noise a pygmy unicorn makes when it passes gas. Have you found anyone who has anything good to say about it? Takes this company and it’s legacy as seriously as they did before the “re-branding”?
Do you really believe that the marketing world won’t immediately jump on anything Time, Inc. comes up with and turn it into a vicious Twitter meme within minutes of the reveal?
Please, Time, Inc. Save yourself some money, some headaches and your reputation. Don’t do it. Just don’t.