Offer everything from a free app to pricey white-glove in-person experiences

Michael Ribero… So I think I'm more now, I talk to our editors a lot and a lot of people want to launch a premium product and I'm like, "No." I think that's the status quo is no, but prove to me there's going to be enough value. And there is another cohort here that isn't just 1% or 2% that we're going to do a lot of work for maybe not a lot of return when we can be doing other things like IRL or merch or whatever it might be to capitalize on that same dynamic.

Michael RiberoSo I think if you have enough, great, it does feel the examples out there, whether it's ad free or family, okay, I'm still not completely sold on, if that makes sense in the media world, but we're thinking about it. The one thing I would call out is we've gone more of the away from the app, but into the membership community world. And Vogue I think presents a really good case study in trying to monetize different parts of the demand curve or the willingness to pay curve. We have extremely high price products, very elite select people, everything IRL, everything white glove to all the way down to freemium in an app, making sure that your brand, your company, your product, whatever it is, has a large enough umbrella. And if not really being the default in no, don't do it. Focus on driving as much as value into your subscription. Get the retention rates right, get the right pricing that you think makes the most sense before you want to distract yourself because it is distracting.

David BarnardFor a lot of companies, there is still so much low hanging fruit. Don't jump to the premium tier before you've captured a lot of the low hanging fruit, but you can think more strategically of here's what we're wanting to build over the next five years, and here's how we're going to build toward offering that much value that we can charge more, so it's a fascinating place to play in.