Demand Media and Bankable Announce Deal to Launch a Beauty and Fashion Online Destination
International Icon and Leading Visionary, Tyra Banks, Partners with New Media Company to Create New Online Beauty & Fashion Brand
SANTA MONICA, Calif., June 29, 2010 -- Demand Media, Inc., a leading online media company, and Bankable, a company focused on beauty and entertainment, today announced an exclusive partnership to create a new digital consumer-focused brand dedicated to beauty and fashion. Together, Demand Media and Tyra Banks plan to launch a multi-platform digital presence embodying her unique philosophy of Beauty Inside & Out, closely supporting her core mission to expand the definition of beauty. The efforts will include the development of an interactive web property, an engaging online video series and unique mobile applications. Per the agreement, Tyra Banks will become a shareholder in Demand Media.
The Beauty and Fashion category is one of the most dynamic and valuable media market segments and the recipient of more than $7.5 billion dollars in 2009 according to Advertising Age. While comScore reports more than 47mm unique US visitors to beauty and fashion sites in April 2010, no dominant site has emerged online.
“I have always been passionate about harnessing my experience and knowledge in the beauty and fashion businesses and creating an engine that would provide my audience with inspirational and instructional content to help them look and feel their best,” said Tyra Banks, Chairwoman and CEO of Bankable. “I am very confident that with Demand Media, that dream is about to become a reality.”
Bankable’s President and COO, Patrick Vien, adds “As Bankable looks to expand its reach and break new ground in the beauty and fashion sectors, this new partnership will propel our digital efforts in dynamic ways. Bankable Digital, a division of Bankable, is now well armed to take a leadership position in the mobile and online worlds.”
Having conquered the world of fashion, Banks has gone on to build an impressive media company that has developed and executive produced, The Tyra Show, a two-time Emmy award-winning television show, America’s Next Top Model which is entering its 15th cycle and is viewed in over 140 markets with 20 international editions, and True Beauty, currently in its second season on ABC. As one of the most accomplished entertainment personalities today, the success of Banks has earned her a spot on several of the most renowned power lists, including being featured twice in Time Magazine’s 100 Most Influential People In The World.
Demand Media will work with Banks to create a new digital brand that will be inherently social, highly interactive and grounded in delivering content and experiences that respond to real consumer demand. Demand Media will leverage its leading content creation platform, social media tools and application development expertise to aggressively build a unique online destination that will launch later this year. Banks will work exclusively with Demand Media to build and promote her online presence on the new property with entertaining features, educational videos, inspiring stories and helpful applications.
“We believe that the Beauty and Fashion segment is a very exciting, yet underserved online market. And while we have the technology platform and online experience to capitalize on the opportunity – we wanted to work with the most talented and successful industry professional to really create a unique product for consumers and advertisers,” said Richard Rosenblatt, chairman and CEO, Demand Media. “Tyra is the leading expert and personality in the field of fashion and beauty and we are thrilled to be working with the person that a generation of young women have grown up with and trust.”
According to comScore US metrics in May, 2010, the Demand Media network of websites, which include eHow™, LIVESTRONG.com℠ and Cracked®, attracted 87mm visitors worldwide, is a US Top 20 web property and ranks in the Top 10 in ten verticals including Home, Health, Lifestyles, Personal Finance and Humor.
Bankable was established in 2003 by cultural icon and entrepreneur, Chairwoman & CEO Tyra Banks. Headquartered in New York City with production offices in Los Angeles, Bankable’s operating units include Bankable Digital, Bankable Studios, and Bankable Books, which recently announced the book series MODELLAND. Banks also founded the TZONE Foundation that empowers and seeks to raise the self-esteem of young women across the U.S.
About Demand Media
Demand Media is a leading online media company that informs, entertains and connects millions of people every day. Through a portfolio of vertical web properties that reach more than 80 million monthly visitors, a global network of digital partners, and a breakthrough content studio, Demand Media publishes what the world wants to know and share. Founded in 2006, Demand Media is headquartered in Santa Monica, CA with offices in Bellevue, WA, Austin, TX, New York, NY and London, UK. For more information visit: www.demandmedia.com