Vice Studios is also co-producer on an animated movie titled, "Flee" about an Afghan refugee that won at Sundance and is a potential Oscar contender, according to Indiewire. Pulse Films, part of Vice Studios, is making a HBO Max special, "Harry Potter 20th Anniversary: Return to Hogwarts," set to air in January starring the original cast. Studio productions are a nine-figure business for Vice. Overall, Vice Studios Group has 100 projects in development, with 20 produced or in production this year, including ones for Discovery+, Amazon Prime Video and Hulu. We haven't had a clear runway to say, 'OK, we have all these powerful brands and powerful audiences how do we build franchises across the ecosystem that we have?'" "We have been so focused on the operations and the organization in getting to this milestone and dealing with COVID and everything else that's been going on. "Success this year is about seeing brand growth," Dubuc said. Some 35 percent of the company's revenue comes from advertising, with the rest coming from licensing, merchandise, e-commerce and affiliate revenue. To do that, she'll have to make a hodgepodge of separate businesses that reach 419 million people over 25 markets work in tandem. Now she feels she can turn her attention to her strengths: Creating content and developing brands.Ĭraig Barritt/Getty Images for VICE Mediaĭubuc wants to get back to building brandsĭubuc wants to build franchises across the company's platforms, which span a cable channel, a TV, film and commercial production and distribution division, an online news venture, women-focused lifestyle destination Refinery29, and an ad agency. That's a big accomplishment from where I came in the door," Dubuc said.ĭubuc, who ran A&E Networks before joining Vice in 2018 to clean up its culture and get it in the black, has spent an inordinate amount of time dealing with financing issues.
Vice media full#
"We're going to have our first full year of profitability in 2022. The company expects to end 2021 with about $700 million in revenue, according to one source with close knowledge of company finances. The company will be profitable in the fourth quarter this year, according to a source familiar with finances.Īfter a 4% decline in revenue to $580 million in 2020, according to the New York Post, the company expects to turn a profit in the fourth quarter of this year and for all of 2022, with revenue growing 20 percent this year and another 15 to 20 percent in 2022. In her first wide-ranging interview with a media outlet detailing her plans for 2022, CEO Nancy Dubuc revealed how she aims to keep Vice in the black, even after COVID-19 cratered parts of the advertising, events and production growth strategy. With the SPAC plans scrapped, Vice's often warring investor base decided in September to pour yet more cash into the business and press ahead on their own. One source close to talks said Vice initially sought a valuation of nearly $3 billion but that it turned out to be too high, dampening investor interest.
But plans for a full year of black ink have yet to materialize and discussions to join with a SPAC ended, along with market enthusiasm for such deals earlier this year. To be sure, the Brooklyn-based mini-media conglomerate, co-founded in 1994 by gonzo journalist Shane Smith, has been here before.
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