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Respected Contributor
Posts: 4,926
Registered: ‎06-29-2016

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

[ Edited ]

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.

Esteemed Contributor
Posts: 6,188
Registered: ‎06-19-2010

Re: QVC Group CEO: We are Social Media

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.

Esteemed Contributor
Posts: 5,959
Registered: ‎07-12-2011

Re: QVC Group CEO: We are Social Media

@They Call Me MR Wilkes 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.

Honored Contributor
Posts: 74,506
Registered: ‎03-10-2010

Re: QVC Group CEO: We are Social Media

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.

New Mexico☀️Land Of Enchantment
Respected Contributor
Posts: 4,829
Registered: ‎04-05-2010

Re: QVC Group CEO: We are Social Media

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.

 

Honored Contributor
Posts: 11,350
Registered: ‎03-09-2010

Re: QVC Group CEO: We are Social Media

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.

Honored Contributor
Posts: 16,376
Registered: ‎03-09-2010

Re: QVC Group CEO: We are Social Media

@They Call Me MR Wilkes   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!

Respected Contributor
Posts: 4,926
Registered: ‎06-29-2016

Re: QVC Group CEO: We are Social Media

[ Edited ]

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!

Honored Contributor
Posts: 34,921
Registered: ‎03-10-2010

Re: QVC Group CEO: We are Social Media

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

 

Honored Contributor
Posts: 21,421
Registered: ‎03-13-2010

Re: QVC Group CEO: We are Social Media

 


@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

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