Sports Illustrated CEO Levinsohn Departs from the Norm with Monetization Makeover
Throughout Sports Illustrated’s magnificent history, which has spanned seven decades, the print publication’s monetization efforts have had to evolve considerably to keep pace with changing times. Perhaps the most notable of these changes occurred a few decades ago as a result of the rise of the internet. Prior to this time period, the print publication’s ads and subscriptions were providing a substantial portion of the brand’s revenue. As the internet gained popularity among consumers, Sports Illustrated pivoted by creating a monetized website. Consumers’ preferences continued to lean heavily toward online content, and the result was a reduction in print publication income.
By 2016 when Ross Levinsohn became the Sports Illustrated CEO, it was clear that a monetization makeover was needed. Levinsohn knew that he must devise a strategy to extract more revenue from the website. Levinsohn was not a newcomer to the print and media worlds. In fact, he had previously maintained a top seat at the executives’ table at companies like Yahoo!, Fox, Guggenheim, CBS Sportsline and numerous others. His impact on the industry had most recently been made as CEO at Maven Media, which is a significant services provider for hundreds of digital brands. One of the many services that it offers covers monetization. Among the brands served is The Street with Jim Cramer, which has historically focused on delivering Wall Street content to its customers. When those individuals started developing an interest in cryptocurrencies, Levinsohn spearheaded a project to offer a cryptocurrency newsletter and a focused channel behind a newly-created paywall.
This exciting example of Levinsohn’s ingenuity at work is only one of many experiences that the Sports Illustrated CEO was able to tap into. For Sports Illustrated, Levinsohn decided that a new paywall was needed to address the situation properly. This monetization makeover involved adding a higher-level, premium subscription paywall to the mix. Now, customers can access online content sooner by subscribing as a premium member. Other print publishing brands had felt the weight of a similar problem. Many of these brands used Ross Levinsohn’s innovative approach at Sports Illustrated as creative inspiration for their own solutions.