Well-known modeling icon Tyra Banks has struck a partnership with Demand Media to create a new digital brand focused on fashion and beauty.
The deal between the Santa Monica, Calif.-based online content maker and Banks’ beauty and entertainment company Bankable will include the development of a Web site, online video offerings and mobile applications.
“Their strategy, team and technology are outstanding, and the company has developed a unique method for quickly creating popular online platforms by providing visitors with exactly the kinds of content they’re looking for,” wrote Banks in an email to BoomTown tonight. “It became clear to us that Demand Media has developed something truly innovative and that they would be the perfect partner as we work to grow Bankable Digital into a significant part of our business.”
The deal with Banks is a high-profile one for Demand, which is seeking to expand its content to more premium offerings.
“This is where media is going,” said Demand CEO Richard Rosenblatt. “We’re going to link our huge amount of content and writers to her ethos around beauty inside and out.”
As part of the deal–which is not unlike the Livestrong health and fitness site created between Demand and cyclist Lance Armstrong–Banks is receiving shares in Demand, which is widely expected to file for an initial public offering in the near future.
“What Oprah did for television, we think Tyra can do for digital content in the fashion, health and beauty space,” said Joanne Bradford, who recently was hired by Demand from her job as the top advertising sales exec Yahoo (YHOO) to turbocharge its premium advertising efforts.
This is exactly in that wheelhouse, mashing up a well-known celebrity with the vast stores of content that Demand produces from its army of search-fueled freelancers.
Banks has certainly become an entertainment powerhouse, since she retired from her supermodel days.
But, while she is developing books too, Banks has been focused mostly on television, with her own talk show, which just wrapped up after five years, as well as the megahit, “America’s Next Top Model.”
The most recent show she is producing is called “True Beauty” on ABC, in which good-looking contestants think they are being judged on beauty on the outside, but are actually being scored based on their kindness and other inner attributes.
Currently, Banks’ Web site is mostly promotional, although she also has a potentially large online fanbase, with 1.6 million Twitter followers and a inspirational, self-help image that is likely to translate well in a more interactive setting.
Whether that will bring big bucks or not is uncertain, of course. So far, Bradford said Demand has not signed up any advertisers, but said this is just the kind of site they will welcome and have been asking for.
“Advertisers are looking for new kinds of content online to be associated with,” she said. “We think Tyra has the kind of message that will attract a really engaged audience online.”
In fact, Banks said she plans to be very engaged in the creation and operation of the online destination.
“Anyone who knows me knows that, once I commit, I’m in 100 percent,” she said. “I plan to be very involved from the early design stage to the choice of videos, articles and special features, to the launch and marketing of the site.”
Here’s the official press release, and below it the full video of Rosenblatt talking about Demand’s strategies around content, in an interview at the eighth D: All Things Digital conference earlier this month:
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 15th cycle and is viewed in over 140 markets with 20 international editions, and “True Beauty,” currently in its second season on ABC. 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 woman 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 87 million 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.
About Bankable
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
