Condé Nast announces changes to its video and editorial content structure, with the departure of Condé Nast Entertainment President, Agnes Chu.
Condé Nast, the renowned publishing giant behind iconic brands such as Vogue, Wired, The New Yorker, and Vanity Fair, is undergoing a significant shakeup in its video and editorial content structure. The company’s CEO, Roger Lynch, recently announced that Agnes Chu, the President of Condé Nast Entertainment, will be leaving the company at the end of the month. This departure comes as Condé Nast aims to develop a new organizational structure that combines editorial, branded content, video, and audience development. These changes are part of the company’s strategy to transform its intellectual property into a programming powerhouse and meet the growing demand for high-quality content in the streaming era.
A Transformational Journey
Agnes Chu joined Condé Nast in the summer of 2020 with a mission to lead the company’s entertainment division and leverage its vast intellectual property to create compelling programming. With her leadership, Condé Nast Entertainment embarked on a transformational journey, diversifying its media division and expanding its reach across various platforms. Chu’s efforts resulted in over 70 projects in development and ten projects in production, demonstrating the company’s commitment to becoming a major player in the film, television, and entertainment industry.
A Valued Member of the Leadership Team
In a memo to staff, CEO Roger Lynch expressed his appreciation for Agnes Chu’s contributions to the company. He highlighted her instrumental role in building the film, television, and entertainment business at Condé Nast Entertainment. Under Chu’s guidance, the company’s digital video audience grew significantly, projected to reach 20 billion annual video views. Lynch acknowledged Chu’s invaluable leadership and wished her the best in her future endeavors.
A Cultural Moment Content Strategy
Agnes Chu, in her own memo, reflected on her time at Condé Nast Entertainment and the accomplishments achieved during her tenure. She emphasized the successful implementation of a cultural moment content strategy, which showcased the creative quality of Condé Nast’s iconic brands. This strategy attracted both new and returning advertisers, driving a 40% year-over-year increase in business. Chu also highlighted the company’s production of film, television, podcasts, and social video, which garnered the attention of distribution partners and platforms across the entertainment landscape.
The Power of Intellectual Property
During an interview with The Hollywood Reporter, CEO Roger Lynch discussed the rationale behind investing in an entertainment division. Lynch emphasized the demand for high-quality content from streaming services and the importance of intellectual property in meeting this demand. With Condé Nast’s extensive treasure trove of IP, the company has the potential to create original and captivating stories that stand out in a competitive market. By leveraging their intellectual property, Condé Nast can replenish its content offerings and establish itself as a major player in the film and television industry.
A New Organizational Structure
CEO Roger Lynch announced that Condé Nast is developing a new organizational structure that will be implemented by the end of the year. This structure aims to bring together editorial talent, branded content creators, video producers, and audience development experts. The goal is to enable these leaders to work across all mediums as digital content experts, elevating the company’s journalism and storytelling across multiple platforms. While specific reporting lines are still being finalized, this restructuring signifies Condé Nast’s commitment to adapt to the evolving media landscape and capitalize on the strengths of its diverse talent pool.
As Condé Nast undergoes a significant restructuring of its video and editorial content structure, the departure of Agnes Chu, President of Condé Nast Entertainment, marks a pivotal moment for the company. Chu’s leadership has played a crucial role in transforming Condé Nast Entertainment into a globally diversified media division, with a focus on high-quality programming across film, television, podcasts, and social video. With a new organizational structure on the horizon, Condé Nast aims to leverage its intellectual property and empower its talented teams to create compelling content that resonates with audiences across all platforms. The future holds exciting possibilities for Condé Nast as it continues to evolve and adapt to the ever-changing media landscape.