topic Re: QVC Group CEO: We are an ENTERTAINMENT/Social Media Business in Q Talk

QVC Group CEO: We are an ENTERTAINMENT/Social Media Business

They CallMe MRWILKES — Wed, 15 Jan 2025 16:40:57 GMT

The QVC Group CEO made it clear that within 2-3 years the QVC of today will no longer exist.

An investor meeting yesterday; I listened in.

The QVC of today will be gone completely within 2-3 years, if not sooner.

Social Media! Social Media! Social Media! We are an ENTERTAINMENT/RETAIL HYBRID.

60 Billion QVC minutes viewed across all social media platforms.

The linear TV/cable distribution model is unsustainable given drops in viewership. Views across social media platforms have exploded. Broadcasts won't disappear overnight, but will diminish as investment drops.

Influencers rule; studio production will disappear. 9000+ Social media influencers have requested relationships with QVC Group. QVC will provide production space, support, technology to social media personalities promoting products.

The large expensive Studio Park sets are being subdivided for the small screen: a set for Facebook, a set for YouTube, a set for Instagram, a set for QVC+ Streaming and so on.

$100 million cost reduction as production savings are shifted. That's a lot of host salary and benefits. Explains recent host disruption I think, so expect more soon.

100+ Celebrity driven products will grow and grow. Celebrities and influencers are crucial.

This is what it is and this is The QVC Group future.

Re: QVC Group CEO: We are Social Media

Meowingkitty — Wed, 15 Jan 2025 16:27:52 GMT

Welp, I don't do social media nor do I buy more than once or twice a year from QVC so whatever they decide to do really doesn't affect me other than the occasional tune in.

Re: QVC Group CEO: We are Social Media

Estellee — Wed, 15 Jan 2025 16:31:48 GMT

@They CallMe MRWILKES Thank you posting this information. I'll bet in the next 2 years or so there will be quite a few senior hosts planning their retirements.

Re: QVC Group CEO: We are Social Media

Kachina624 — Wed, 15 Jan 2025 16:37:53 GMT

Sounds grim. I not influenced by or interested in listening to "influeners" whom I figure don't know any more than I do but have a TV "personality".

I wonder what they've told the hosts about the stability of their jobs? And the vendors....it sounds like the influences will bring their customers to qvc which will provide the sound stages and tech assistance.

They're struggling to surviv3 but I'm not sure QVC will be surviving. It sounds like a whole different company.

Re: QVC Group CEO: We are Social Media

amyb — Wed, 15 Jan 2025 16:38:50 GMT

Interesting.

Over the decades I listened in only once to one of these investor meetings. It was interesting then too.

As my dad would always say: "It's the way of the world."

The thing I'm curious how all that will work...when you say "studio production will disappear"...but then studios are being built for various SM platforms, they will need production, so is that just a shift in funds? Will influencers be independent contractors who fund their own production?

At any rate, lots of jobs affected and changes. Won't matter much which hosts people "like or hate" anymore...doesn't sound like a lot of them will still be around. Also, I wonder if these boards will remain...wasn't mentioned but sounds like the website would also be changing....no videos from previously aired shows. Maybe format entirely will evolve.

And what about QVC proprietary brands? Also, as far as hosts' jobs....their shows stream on SM now anyway, so couldn't they just work from, for example, FB's new studio? Lots of questions from me, and obviously I don't understand how it all will work...but again...interesting.

Tks for sharing.

Re: QVC Group CEO: We are Social Media

Venezia — Wed, 15 Jan 2025 16:39:19 GMT

Well that's a nice way to slap a proportion of their current demographic in the face.

No wonder hosts like Mary Beth have handed in their notice. Personally, I don't pay attention to any so-called influencers so, when that's what it devolves to, I'm out. And, yes, I've been a customer for decades.

Re: QVC Group CEO: We are Social Media

millieshops — Wed, 15 Jan 2025 16:41:01 GMT

@They CallMe MRWILKES Thanks for the specifics.

I am not at all surprised. Lots of the world as I have known it for my 8 decades has changed or will change before long.

I don't have to like all the changes, but I do need need to anticipate them and choose what fits into the decade I still hope to live - even though I know what happens to even the best plans!

Re: QVC Group CEO: We are Social Media

They CallMe MRWILKES — Thu, 16 Jan 2025 10:58:06 GMT

Obviously they can't survive as is, which critics and detractors here point out everyday!

Something drastic and serious is required and continuing to pretend it's 1985 won't do it.

It's now or never (in my view.)

Go For It and Go All In!

Re: QVC Group CEO: We are Social Media

Sooner — Wed, 15 Jan 2025 16:44:51 GMT

It amazes me than anyone today watches "influencers." Really? You can get good solid information in lots of places on the internet.

Re: QVC Group CEO: We are Social Media

Desertdi — Wed, 15 Jan 2025 16:49:14 GMT

@Sooner wrote:
It amazes me than anyone today watches "influencers." Really? You can get good solid information in lots of places on the internet.

@Sooner

I consider "influencers" to be a bunch of hustlers... di

Re: QVC Group CEO: We are Social Media

They CallMe MRWILKES — Wed, 15 Jan 2025 16:50:49 GMT

Well, that's how revenue is generated, which is the point of a for profit publicly traded enterprise!

Re: QVC Group CEO: We are Social Media

Suzeecat — Wed, 15 Jan 2025 16:52:11 GMT

Sounds interesting, I will be watching with interest. It's clear something drastic and major needs to change

Re: QVC Group CEO: We are an ENTERTAINMENT/Social Media Business

laceymom — Wed, 15 Jan 2025 16:54:37 GMT

Makes you wonder why they bothered to hire all those new hosts. Those poor people left other jobs to pursue this opportunity, did they know at the time that this will likely be a temporary gig? I have no interest in what "influencers" are trying to get me to buy, I make my own decisions and don't follow the trends. If this is the way the Q is going the will be losing a lot more business.

Re: QVC Group CEO: We are an ENTERTAINMENT/Social Media Business

They CallMe MRWILKES — Wed, 15 Jan 2025 16:59:51 GMT

The newest hosts are extremely well suited to the new formatting.

They will excel on the small QVC+/HSN+ streaming spots.

Not all hosts are unnecessary. Just most hosts, particularly those of the bygone era.

Re: QVC Group CEO: We are Social Media

Icegoddess — Wed, 15 Jan 2025 16:56:46 GMT

I don't watch influencers either. Might be good for my pocketbook. If I don't see it, I won't think I want or need it.

Re: QVC Group CEO: We are an ENTERTAINMENT/Social Media Business

ajsidney12 — Thu, 16 Jan 2025 00:57:32 GMT

Social media influencers are not what I call experts. I do not buy from TikTok, nor do I use it at all. I do not watch YouTube for purchasing ideas as they are paid and given promotional products to support (like TikTok). I want ingredients discussed openly and with knowledge behind it. I want to see actual sizing and hear about fabric content and so on. Influencers are not always experts, relatable or real.

Many of the above comments can be also applied to a number of the hosts at Q, to be fair.

What I find strange from the quick notes provided above, WHY are they hiring more hosts if this is a max out 3yr plan? Seems to me there are not that many slots that would be required to fill.

Why are they not combining items from the same order into one shipment (assuming they are coming from the same distribution facility) like every other retailer tries to do and save not only wasteful packaging but shipping costs? Save some money now!

Lastly as someone noted, they sound like they will drop the Tv broadcasting licenses in the near future too. Why not cut back now on Q2 and Q3 and help your current consumer and long time customers? Which goes back to my original thought about continuing to hire new hosts.

Re: QVC Group CEO: We are Social Media

Kachina624 — Wed, 15 Jan 2025 17:12:01 GMT

@Sooner wrote:
It amazes me than anyone today watches "influencers." Really? You can get good solid information in lots of places on the internet.

@Sooner. It seems as though brains are turning to mush and people can no longer think for themselves. They need someone to tell them how to think. Just look at recent changes in the whole country.

Re: QVC Group CEO: We are an ENTERTAINMENT/Social Media Business

Caaareful Shopper — Wed, 15 Jan 2025 17:10:04 GMT

It's not a slap in the face of the old-guard demographic. QVC is doing what they need to do to survive. Will it work in the long run, who knows for sure? But it's much more certain is that they cannot survive doing what they've done for the past 30 years. That business model is stagnant. Pure & simple.

Banks and retailers will soon not accept paper checks. That's not turning their back on a demographic. That's modernizing to try to stay afloat, efficient and more secure.

How many people thought they'd never own a cell phone??

It's 2025.

The problem is, QVC needed to do this 5 years ago. Now they're playing catch up.

I'm happy to see it though.

Re: QVC Group CEO: We are an ENTERTAINMENT/Social Media Business

Kachina624 — Wed, 15 Jan 2025 17:11:22 GMT

@ajsidney12 wrote:
Social media influencers are not what I call experts. I do not buy from TikTok, nor do I use it at all. I not watch YouTube for purchasing ideas as they are paid and given promotional products to support (like TikTok). I want ingredients discused openly and wih knowledge behind it. I want to see actual sizing and hear about fabric comtentamd so on. Influencers are not always experts, relatable or real.

Many of the above comments can be also applied to a number of the hosts at Q, to be fair.

What I find strange from the quick notes provided above, WHY are they hiring more hosts if this is a max out 3yr plan? Seems to me there are not that many slots that would be required to fill.

Why are they not combining items from the same order into one shipment (assuming they are coming from the same distribution facility) like every other retailer tries to do and save not only wasteful packaging but shipping costs?

Lastly as someone noted, they sound like they will drop the Tv broadcasting licenses in the near future too. Why not cut back now on Q2 and Q3 and help your current consumer and long time customers? Which goes back to my original thought about continuing to hire new hosts.

@ajsidney12. This has nothing to do with the subject being discussed but, when possible, they do combine items in one package. I often receive 2 or more items combined.

Re: QVC Group CEO: We are an ENTERTAINMENT/Social Media Business

Hopein24 — Wed, 15 Jan 2025 17:14:43 GMT

@They CallMe MRWILKES @Thank you for the information you have posted. I must say, I did not know any of this but am not surprised. I myself am 64 years old and have been a viewer and Customer of QVC since nearly the beginning. I believe that in anticipation of the baby boomer generation which has begun to die off, QVC is looking to the future to save what is left of a once booming company. They are savvy to know that young people are influenced to buy from celebrities, sports icons, etc. And as the great movies that were once made in Hollywood ride off into the sunset, more and more celebrities and Musicians are now starting all kinds of new businesses, such as skin care and fashion etc. They are using their superstar names to sell products to young folks. It makes me kind of feel like QVC is saying thanks for the decades of purchases, now we are leaving you old folks in the dust as we chase the almighty dollar. And yes, they SHOULD chase the almighty dollar as they are in the business to make money. It would make more sense to me to bring those baby boomers along with them into the next phase and I think they have offended a good many of that demographic by doing things this way. In light of your information, I would suggest that Amazon, which is already a multi billion dollar success, (Like them or not) will continue to explode in increased sales from these decisions that the powers that be at QVC are making now. Kohls is in trouble, Target is not far behind, JC Penney is on the brink of bankruptcy not to mention all the Dept. stores lost to Walmart. Brick and mortar stores are fast becoming a dinosaur and buying online is booming. Maybe some shares of Amazon would be very wise!