TIME logo on New York Headquarters building

TIME Buys Brandcast to Help Partners Build Microsites

This is TIME’s first acquisition since Marc and Lynne Benioff purchased TIME from Meredith Corp. in 2018.

Global media brand TIME is expanding their business with the acquisition of Brandcast, a no-code platform for building and managing visually impactful websites. TIME will make Brandcast’s technology available to their partners, so they can develop customized microsites for storytelling. These new microsites will become TIME Sites as part of TIME’s suite of storytelling products and platforms, says TIME in an August 30, 2022 news release.

TIME editor-in-chief and CEO Edward Felsenthal commented on the acquisition of Brandcast.

“TIME is the world’s most trusted storyteller, and we are excited to work with Brandcast’s world-class team to deliver innovative digital experiences that tell our customers’ stories at quality, speed and scale,” said Felsenthal.

TIME Sites will give TIME partners and Brandcast’s existing client base new opportunities, including enterprise solutions, for TIME’s web3 division. Among the primary benefits of using TIME Sites is that partners and clients can create digital content quickly to tell visually impactful stories. The user interface is intuitive and requires no coding.

“Becoming part of TIME will further enable brands to distribute stunning digital experiences and stories,” said Brandcast CEO Ashok Santhanam. “Our team is energized and committed to helping our customers grow, while using Brandcast’s technology to allow TIME’s customers to succeed in new ways.”

Source: TIME Sites

According to the news release, Brandcast is the first no-code digital platform available for enterprise websites. It has raised more than $33 million since its 2013 launch, according to Axios. Brandcast has been funded by technology investors including Marc Benioff, Shasta Ventures, TPG Growth and Buchanan Investments. TIME Sites clients include Colliers International, Kaiser Permanente, Shaklee, and Clorox, among others.

Terms of the deal were not disclosed. However, the company said the acquisition does not require regulatory review, which is needed for deals over $101 million, reports Axios.

In 2018, Meredith sold TIME to Marc and Lynne Benioff. This is TIME’s first acquisition since the company changed ownership. According to TIME’s media kit, TIME has a global community of about 91 million. This includes 44.4 million print and digital readers globally with 29.2 million in the U.S., and 49.2 million social media followers on six different platforms.

“We are honored to be the caretakers of one of the world’s most important media companies and iconic brands,” said the Benioffs in a September 16, 2018 statement, after the acquisition. “TIME has always been a trusted reflection of the state of the world and reminds us that business is one of the greatest platforms for change.”

Insider Take

Axios says this deal is important for TIME because time is diversifying the company’s revenue, so it is less reliant on print revenue. By expanding its product offerings, TIME can continue to grow while serving multiple audiences – consumers, businesses, and advertisers. The company is expected to earn $200 million in revenue in 2022, representing 30% growth year-over-year, according to Axios. About one-fourth of their revenue now comes from TIME Studios.

Visual depiction of TIME’s 360° Platform for Storytelling.
TIME’s 360° Platform for Storytelling.
Source: TIME

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