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Vox Media, Inc.
Company typePrivate
IndustryMass media
PredecessorsSportsBlogs, Inc.
Group Nine Media
FoundedNovember 1, 2011;12 years ago(2011-11-01)
Founders
Headquarters85Broad Street
New York,NY 10004
U.S.
Key people
Brands
OwnerPenske Media Corporation(20%)
Comcast
Divisions
  • Epic
  • Vox Creative
  • Vox Media Studios
  • Vox Media Podcast Network
Websitevoxmedia.com

Vox Media, Inc.is an Americanmass mediacompany founded inWashington, D.C.with operationalheadquartersinLower Manhattan,New York City.[5]The company was established in November 2011 by CEOJim Bankoffand Trei Brundrett to encompassSB Nation(a sports blog network founded in 2003 byTyler Bleszinski,Markos Moulitsas,andJerome Armstrong) andThe Verge(a technology news website launched alongside Vox Media). Bankoff had been the CEO forSB Nationsince 2009.

Vox Media owns numerous editorial brands, most prominentlyNew York,The Verge,Vox,SB Nation,Eater,andPolygon.New Yorkfurther incorporates the websitesIntelligencer,The Cut,Vulture,The Strategist,Curbed,andGrub Street.Recodewas integrated intoVox,whileRackedwas shut down. Vox Media's brands are built on Concert, a marketplace for advertising, and Chorus, itsproprietarycontent management system.[6]The company's lines of business include the publishing platform Chorus, Concert, Vox Creative, Vox Entertainment, Vox Media Studios, and the Vox Media Podcast Network. As of 2020,the company operated additional offices inSan Francisco,Chicago,Los Angeles,Austin,andLondon.In June 2010, the network featured over 300 sites with over 400 paid writers.[7]As of November 2023,Comscoreranks Vox Media 35th-most popular media company among users from the United States.[8]

History

[edit]

Background in sports media

[edit]

Tyler Bleszinski,afreelancewriter, establishedAthletics Nationin 2003 as a sportsblogthat sought to cover the baseball teamOakland Athleticsfrom a fan's perspective. The blog quickly became popular, becoming the second-most popular site on the Blogads network, afterDaily Kos.Bleszinski, together with Daily Kos creatorMarkos Moulitsasand political strategistJerome Armstrong,then established the sports blog networkSB NationaroundAthletics Nationin 2005. The popularity of the site led to other sports blogs being incorporated.[7][9]SB Nationhired formerAOLexecutiveJim Bankoffas an advisor in 2008 to assist in its growth. He was promoted tochief executive officer(CEO) in January 2009.[9][10]He showed interest inSB Nation's goal of building a network of niche-oriented sports websites.[9][11]By February 2009, theSB Nationnetwork contained 185 blogs, and in November 2010,Comscoreestimated that the site had attracted 5.8 million unique visitors.[12]The 208% increase in unique visitors over November 2009 madeSB Nationthe fastest-growing sports website the company tracked at the time.[12]

Continued growth and expansion into other content areas

[edit]
Former logo, used until November 2019

In 2011, Bankoff hired a number of former writers from AOL's technology blogEngadget,including former editor-in-chiefJoshua Topolsky,to build a new technology-oriented website in the same network asSB Nation.[9]These writers had originally left AOL following a series of conflicts between Topolsky andMichael Arrington,the author ofTechCrunch(which AOL had previously acquired), and the leak of an internal training document that outlined a content strategy for AOL's blogs that prioritized profitability.[13]Bankoff felt that a technology-oriented website would complementSB Nationdue to their overlapping demographics.[11]The Vergewas launched on November 1, 2011, with Topolsky as editor-in-chief.[11][13]Alongside this launch, Bankoff and Trei Brundrett created Vox Media as theparent companyfor bothSB NationandThe Verge.[14]The previous parentshelltoSB Nation,SportsBlogs, Inc., was converted into Vox Media, Inc. for this purpose.[15]Brundrett, who had been withSB Nationsince 2006, became Vox Media'svice presidentof products and technology, and laterchief product officer.[16]

In 2012, Vox Media launched a video gaming website,Polygon,led by formerJoystiqeditor Christopher Grant.[17]In November 2013, Vox Media acquired Curbed Network, which consisted of thereal-estateblog networkCurbed,the food blogEater,and the fashion blogRacked.[18]

In April 2014, the company launched a news website,Vox.[19]Led by formerWashington PostcolumnistEzra Klein,Melissa BellandMatthew Yglesias,Voxwas positioned as a general interest news service with a focus on providing additional context to recurring subjects within its articles.[20]

In May 2015, Vox Media acquiredRecode,a technology industry news website that was founded byWalt MossbergandKara Swisher,the former editors ofThe Wall Street Journal'sAll Things Digital.[21]In February 2017, Vox Media promoted Brundrett as itschief operating officer.[22]In May 2017, Vox Media announced that it had entered into an agreement to provide technology and advertising sales forBill Simmons' sports websiteThe Ringer,as part of a revenue sharing agreement.[23]

In February 2018, it was reported that Vox Media would be laying off around 50 employees, particularly surrounding video production. CEO Jim Bankoff stated previously that the company planned to exitnative videoforFacebookdue to "unreliable monetization and promotion". The memo announcing the layoffs argued that despite its success, native video "won't be viable audience or revenue growth drivers for us relative to other investments we are making", and that the company wanted to focus more on podcasting and Vox Entertainment.[24]The layoffs represented around 5% of Vox's workforce.[25]

In April 2019, Vox Media acquiredEpicmagazine, which would become part of a new division called Vox Media Studios, which had also absorbed Vox Entertainment and the Vox Media Podcast Network.[26]In September 2019, Vox Media agreed to acquire and merge with New York Media, the parent company ofNew Yorkmagazine.[27]

TheCalifornia Assembly Bill 5was passed in September 2019, and the bill aimed at improving the working conditions for contract workers. In response to this bill, Vox Media announced in December 2019 that it would terminate more than 200 contracts of California-based freelance writers forSB Nation,and replace these writers with 20 full-time staff writers.[28]

On April 17, 2020, Vox Media announced it would furlough 9% of its workforce from May 1 to July 31, 2020 due to theCOVID-19 pandemic.[29]

In January 2021,Lindsay Peoples Wagnerwas hired to be the new editor-in-chief ofThe Cut.[30]At the same time, Vox Media also bannedfossil fueladvertising to tackleclimate change.[31]In February 2021,Swati Sharma—former managing editor ofThe Atlantic—was hired to be the new editor-in-chief ofVox.[32]Vox Media purchased Cafe Studios, the publisher ofPreet Bharara's podcastStay Tuned with Preet,in April 2021, making it part of the Vox Media Podcast Network.[33]

In August 2021, Vox Media announced its purchase ofPunch,amixologywebsite established byBertelsmann-ownedRandom House,to undisclosed terms.Punchis to assist the expansion of Vox Media'sEaterwebsite.[34]

On 13 December 2021, it was announced that Vox Media would acquireGroup Nine Media.[35]The acquisition was completed on 22 February 2022.[36]Investors in Group Nine, includingWarner Bros. Discovery,now own 25 percent of Vox.[37]

In February 2023,Penske Media Corporationbecame the largest shareholder in Vox Media, acquiring a 20% stake in the company, and Jay Penske joined Vox's board.[38]

Corporate affairs

[edit]

Funding

[edit]

In December 2014, Vox Media raised aUS$46.5 millionround led by the growth equity firmGeneral Atlantic,estimating the media company's value at around$380 million.[39]Participants in Vox Media's previous rounds includeAccel Partners,Comcast Ventures,andKhosla Ventures.Other funders areAllen & Company,Providence Equity Partners,and variousangel investors,includingTed Leonsis,Dan Rosensweig,Jeff Weiner, andBrent Jones.[40]According to sources, the Series C in May 2012, valued Vox Media at $140 million.[41]A Series D valued the company north of$200 million,raising an additional$40 million.[42]

In August 2015,NBCUniversalmade a$200 millioninvestment in Vox Media, valuing the company at more than$1 billion.Comcast, which owns NBCU, additionally already owned 14% of Vox through other subsidiaries.[43]

Union

[edit]

In January 2018, Vox Media agreed to recognize alabor union,the Vox Media Union, which had been formed by its editorial staff with help from theWriters Guild of America, East.[44]On June 6, 2019, more than 300 employees under the Vox Media Union staged a walkout over failed labor agreements between the union and Vox Media, leading to most Vox Media websites temporarily ceasing operation.[45]

The Vox Media Union negotiated with management during the widespread furloughs caused by the COVID-19 pandemic in the spring of 2020. The union "won a guarantee of no layoffs, no additional furloughs, and no additional pay cuts through July 31, along with enhanced severance for any layoffs that occur in August–December."[46]

Litigation

[edit]

In September 2017, Vox Media was sued by Cheryl Bradley, a former manager of the "Mile High Hockey" site forSB Nation,which covered theColorado Avalancheteam.[47]The suit alleged that Vox Media had only paid Bradley a $125 stipend per month, despite her being an employee of the company working 30–40 hours (and sometimes up to 50 hours) a week, and had therefore failed to reach obligatory wage and hour protections.[47]Fellow former site managers John Wakefield and Maija Varda were later added to the suit asplaintiffs,and Vox Media unsuccessfully tried to have the case dismissed.[48]The suit was grantedclass actionstatus by theUnited States District Court for the District of Columbiain March 2019.[48]

A second labor suit was filed as a class action lawsuit in California in September 2018, citing theFair Labor Standards Act.[49]Because this lawsuit could have covered 258 plaintiffs and damages of up to$6.3 million,Vox Media had the suit moved to theUnited States federal courtunder theClass Action Fairness Act.[49]

In several cases, plaintiffs represented by the attorneyRichard Liebowitzsued Vox Media overcopyright infringementclaims.[50]

Properties

[edit]

Vox Media is made up of six large media brands:The Verge(technology,culture, and science),Vox(general interest news),SB Nation(sports),Polygon(gaming),Eater(food and nightlife), andCurbed(real estate and home).[51]It also owns the online publicationsSelect All,The Strategist,New York Magazine(and its affiliated websites),Daily Intelligencer(up-to-date news),The Cut(fashion and beauty),Grub Street(food and restaurants), andVulture(pop culture).[52]Vox Media also previously owned or operated the online publicationsRacked(retail and shopping) andRecode(technology news).[53][54]

SB Nation

[edit]
Main article:SB Nation

SB Nation(originally known asSports Blog Nation) is a sports blogging network, founded by Tyler Bleszinski andMarkos Moulitsasin 2005. The blog from which the network formed was started by Bleszinski as Athletics Nation in 2003, and focused solely on theOakland Athletics.[55]It has since expanded to cover sports franchises on a national scale, including allMajor League Baseball,National Basketball Association,National Football League,andNational Hockey Leagueteams, as well as college and soccer teams, totaling over 300 community sites.[56][57]In 2011, the network expanded into technology content withThe Verge,leading to the parent company Sports Blogs Inc. being rebranded as Vox Media.[56][58]Vox Media's chief executive, Jim Bankoff, has beenSB Nation'sCEO since 2009.[56]The network expanded into radio programming in mid-2016 withSB Nation Radio,in partnership with Gow Media.[59]

The Verge

[edit]
Main article:The Verge

The Vergeis a technology news site, which launched on November 1, 2011; it was originally staffed by former employees ofEngadget,including former editorJoshua Topolskyand the new site'seditor-in-chiefNilay Patel.[60]While Topolsky and his team were developing the new site, a "placeholder" site calledThis Is My Nextwas created to allow them to continue writing articles and producing podcasts.[61]Topolsky described the site as being an "evolved version of what we [had] been doing [at AOL]."[62]

In February 2014,The Vergehad 7.9 million unique visitors according toComScore.[63]

Vox

[edit]
Main articles:Vox (website)andRecode

Voxwas launched in April 2014; it is a news website that employs explanatory journalism. The site's editor-in-chief is Swati Sharma.[64]

Vox Media acquired technology industry news websiteRecodein May 2015.[54]Recodehosts the annual invite-only Code Conference, at which editors of the site interview prominent figures of the technology industry.[65]Recodewas integrated intoVoxin May 2019 under the nameRecode by Vox.[66]

Polygon

[edit]
Main article:Polygon (website)

Thevideo game websitePolygonlaunched in 2012 as Vox Media's third property, and publishes news, culture, reviews, and videos.[67][68]The site's founding staff included the editors-in-chief of the gaming sitesJoystiq,Kotaku(Brian Crecente), andThe Escapist.[69]Staff published onThe Vergeas "Vox Games" beginning in February 2012, and launched asPolygonin October.[68]The network featureslong-form journalismthat focuses on the people making and playing the games rather than the games alone, and uses a "direct content sponsorship" model of online advertising.[69][70]Christopher Plante is the editor.[71]

Eater

[edit]
Main article:Eater (website)

Eateris a food and dining network of sites, offering reviews and news about the restaurant industry. The network was founded byLockhart Steeleand Ben Leventhal in 2005, and originally focused on dining and nightlife in New York City.Eaterlaunched a national site in 2009,[72]and covered nearly 20 cities by 2012.[73]Vox Media acquiredEater,along with two others comprising the Curbed Network, in late 2013.[74]In 2017,Eaterhad 25 local sites in the United States in Canada, and launched its first international site in London.[75]The site has been recognized four times by theJames Beard Foundation Awards.[76]Eateris led by editor-in-chief Amanda Kludt.[77]

New Yorkmagazine

[edit]
Main article:New York (magazine)

New Yorkis an American biweekly magazine concerned with life, culture, politics, and style generally, and with a particular emphasis onNew York City.On September 24, 2019, it was announced that the magazine's parent company, New York Media, was acquired by Vox Media.[78]

The magazine's website, NYMag.com, was a companion to the magazine until it was relaunched as a news site in 2006. It further includes several branded sites:

  • Intelligencer:news
  • The Cut:women's issues
  • Grub Street:food and restaurants
  • The Strategist:internet shopping companion
  • Vulture:pop culture
  • Curbed:real-estate. The brand originated as a real-estate and home website that reached beyond New York City to publish in 32 markets across the U.S. It was founded in 2004 as a side project by Lockhart Steele, managing editor ofGawker Media.Vox Media would later acquireCurbed's parent company, Curbed Network, in November 2013 for$20–30 millionin cash and stock, accumulating sister brandsEaterandRackedas well.[53]In May 2020, Vox Media announced it was mergingCurbedintoNew Yorkmagazine's website, NYMag.com as a vertical.[79]

Former

[edit]

Technology industry news websiteRecodewas acquired by Vox Media in May 2015.[54]The property was then integrated into the company's namesake brandVoxunder the nameRecode by Voxin May 2019.[66]

Racked

[edit]
"Racked" redirects here. For the wine production method, seeRacking.

Rackedwas a retail and shopping website which covered style. It was acquired by Vox Media when the company acquired Curbed Network in November 2013.[53]In December 2014, the site had 11.2 million page views and 8 million unique visitors.[80]In addition to the national site,Rackedhad local sites forLos Angeles,New York City,Miami,andSan Francisco.[81]The editor-in-chief was Britt Aboutaleb.[82]Rackedwas folded intoVoxin September 2018.[83]

Businesses

[edit]

Chorus

[edit]

Conceived in 2008, Chorus was built to be a "next-generation" publishing platform.[84][85]Developed specifically for SB Nation, it facilitates content creation, and implemented commenting and forums, which allowed for company growth, later evolving to analyze viewership and distribute content via various multimedia platforms.[86][87]In 2014, Ezra Klein and Melissa Bell leftThe Washington Postto join Vox Media, in part because of the publishing platform.[85][88]Additionally, the founders of Curbed, Eater, andThe Vergesaid Chorus was a key reason for partnering with Vox Media.[85]In 2018, Vox Media began to license Chorus as asoftware as a service(SaaS) business to other publishers,[89]includingFunny or DieandThe Ringer.[87]TheChicago Sun-Timessigned on as the first traditional newspaper to launch on the platform in October 2018.[90][91]Vox announced it would "wind down" Chorus in December 2022 amid a slump in advertising demand, stating that no new customers would be added and that existing customers had 18 months to depart the platform.[92]

Concert

[edit]

In April 2016, Vox Media andNBCUniversallaunched Concert as a "premium, brand-friendly ad network" to reach more than 150 million people across their digital properties.[93]New York Media,PopSugar,QuartzandRolling Stonejoined the marketplace in May 2018. In May 2018, Comscore estimated the network reaches almost 90 percent of all internet users.[94]With the new partners, Concert launched C-Suite to reach executives among brands such asCNBC,Recode,The Verge,andVox.[95]

Vox Creative

[edit]

Vox Creative is Vox Media's branded entertainment business.[96]In October 2017, Vox Creative expanded to launch The Explainer Studio to bring the explainer format to brand partners.[97]In 2016, Vox Creative's ad for "Applebee's Taste Test" won the Digiday Video Award for Best Video Ad.[98]

Vox Media Studios

[edit]

In April 2019, Vox Media opened an operation unit known as Vox Media Studios. It is run by company presidentMarty Moeand is an umbrella for the Vox Entertainment, Vox Media Podcast, and simultaneously acquiredEpicunits.[99][100]Vox Media Studios soon announced a new show,Retro Tech,hosted byMarques BrownleeonYouTube.[101]

Vox Entertainment

[edit]

In March 2015, Vox Media formed a new division known as Vox Entertainment. The division was created to expand the company's presence in developing online video programming.[102]Vox Entertainment announced new shows in 2018, includingAmerican StyleonCNN,[103]ExplainedonNetflix,[104]No Passport Required(hosted by chefMarcus Samuelsson) onPBS,[105]and another named "Glad You Asked" series onYouTube.[106]Vox Entertainment is helmed by Vox Media presidentMarty Moe.[107]In 2016, vice president of Vox Entertainment, Chad Mumm, was named to theForbes30 Under 30andVariety's"30 Execs to Watch" list.[108][109]

Vox Media Podcast Network

[edit]

The Vox Media Podcast Network is Vox Media's non-fiction audio programming business and has a broad portfolio of audio programming across business, technology, news and policy, sports, and dining.[110]Shows includeStay Tuned with PreetbyPreet Bharara,[33]Recode Media with Peter Kafka[111]andRecode Daily;[112]The Verge'sThe Vergecast;and Vox'sThe Weeds,[113]Vox Conversations,[114]Today, Explained,[110]Switched on Pop,[115]Impeachment, Explained,[116]Unexplainable[117]andVox Quick Hits.[118]The network won "Podcast Network of the Year" at the 2020AdweekPodcast Awards.[119]

Forte

[edit]

In December 2019, Vox Media announced a first-party marketing platform named Forte, in order to offer marketers access to Vox Media's direct-to-consumer relationships. [120]

Reception

[edit]

In 2016, business magazineInc.nominated Vox Media for "Company of the Year", citing that the company generated approximately$100 millionin revenue in 2015, and was attracting 170 million unique users and 800 million content views monthly by 2016.[121]Vox Media was named one of the world's "most innovative" media companies in 2017 byFast Companyfor "doubling down on quality content while expanding".[122]Vox Media was also named one of the "50 Great Places to Work" in Washington, D.C., by magazineWashingtonian.[123]The company gained a rating of 95 out of 100 on theHuman Rights Campaign'sCorporate Equality Index,which rates businesses on their treatment ofLGBTpersonnel.[124]

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[edit]
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