TIME’s first female CEO plots course for the future

Another major revenue generator is TIME Studios, the group’s in-house TV and film company, which produces scripted and unscripted shows that are sold to streaming services. Major successes have included documentaries on the soul singer Aretha Franklin and rapper Megan Thee Stallion. With revenues hitting $100 million in three years, it has become TIME’s fastest-growing business. 

While many traditional media brands have struggled to branch out into TV and film, Sibley credits the success of TIME Studios to its strategy of hiring experts and operating it like a separate business. 

“It reminds me of what Forbes did in the very early days of forbes.com,” she said. “I was at Forbes magazine and Forbes.com was in a different building, run by different leaders. They hired digital journalists, marketers and built this incredible business that still exists. They kept a really strong print business and then were able to integrate it in such a financially successful way when it was time to make that decision.” 

Scrapping the paywall 

With many media groups grappling to find a sustainable revenue model, one of Sibley’s first moves as CEO was a surprising one: to scrap the paywall on Time.com and make its digital archive freely accessible. She was driven by a desire to boost digital inclusivity and ensure free access to quality information. It was also a smart business move. TIME currently has its largest-ever audience: 120 million people, 45% of whom are under the age of 35, which makes it more attractive to marketers. 

“We’re working with the most important global blue-chip brands that are best in class and have really large budgets,” she said. “And they want to align with a brand like TIME because we are so trusted.”