Gen-Z, Millennial Opps: Conde Nast developing a metaverse strategy (Score 38)

Worldwide magazine publisher Conde Nast (CN) is currently working on ways to interact with readers via the metaverse. It's assumed that most people will eventually have some sort of presence on the metaverse, so why wouldn't they want high-end digitized apparel from designers whose work CN magazines often feature? The company is establishing partnerships with creators and building on its history of content creation. New efforts such as this metaverse experience are designed to build brand engagement via storytelling. We'll likely see promotional activity around the metaverse integration once it launches, so sellers should get in touch soon to secure ad dollars.

CN's media brands include Vogue, Bon Appetit, GQ, Vanity Fair, The New Yorker and Wired.

So far this year, Pathmatics reports CN (this includes all its brands) has allocated approximately $14m toward digital ads, down only slightly (3%) from the approximately $14.4m it had allocated by this point last year. The company ended up allocating approximately $36.9m towards this channel last year, down 23% from the approximately $47.9m it allocated in 2020. CN has earned ~1.7b digital impressions YTD via Facebook (61%), Instagram (34%), Twitter (3%) and desktop display (1%) ads.

CN seems to be primarily targeting Gen-Z and millennials, considering the metaverse's popularity among this audience (more here). According to Kantar data, the company also invests in radio, OOH and print.

Agency & martech readers - So much time has passed since last year's leadership shifts that agency reviews are unlikely; however, they're still possible. Kepler Group is currently CN's media and digital AOR; the company also works with CNX (creative) and Crossroads (creative and PR).