Gary Vaynerchuk's company, VaynerX, is launching its first media brand under the Gallery Media Group umbrella: One37pm. The brand will focus on the intersection of pop culture and entrepreneurship.
When the serial entrepreneur Gary Vaynerchuk bought PureWow early last year, the plan was to use the women's lifestyle media company to launch a suite of brands under the leadership of its CEO, Ryan Harwood.
After about 16 months tinkering under the hood, Gallery Media Group is finally having its coming-out party with the introduction of a new men's brand called One37pm (stylized ONE37pm), which will focus on pop-culture topics like style, music, and sports through "the lens of entrepreneurship."
This isn't a business publication, strictly speaking. "Entrepreneurship," in this case, is meant to signify the broader mindset of how its intended audience approaches life, rather than a focus on specific business pursuits — "the grind," as Harwood described it to Business Insider in a recent interview.
At its core, One37pm is an aspirational brand that will aim to capture the collision of worlds like tech, professional sports, and hip-hop.
"They all want to be entrepreneurs," Harwood said of various pop-culture luminaries.
The name One37pm is meant to evoke one random minute of the day.
"You have to be prepared to own your minute at any moment," Harwood said, explaining what the brand would try to convey to its target audience of 18- to 29-year-old men.
Though Harwood will oversee One37pm and all the brands in Gallery Media Group, it's hard not to see Vaynerchuk's kinetic, go-go-go persona reflected in the ethos.
"Gary embodies a lot of these qualities," Harwood agreed.
Another person who comes to mind is the tech billionaire Elon Musk; indeed, one of the products debuting at launch is a daily briefing for Amazon's Alexa called "Musk Listen," which will "update you daily on what The Musk is up to."
One thing you won't see on One37pm, or on PureWow, is a negative story. The motto of Gallery Media Group generally is to "make positivity louder."
"We are not going to be tearing down anyone," Harwood said.
"We are going to have strong opinions or voice," he said, but the brand is "not going to be snarky."
If One37pm thinks someone is full of hot air — a common occurrence in the entrepreneurship space — it will not write about them, he said.
One37pm will also not try to present itself as an "authority," Harwood said. ("We are not going to do it in the GQ way," he added.) Instead, it will be more of a booster of ideas and people who resonate with its editors — for instance, "Look at these two kids who created a backpack brand," Harwood said.
There will also not be the traditional journalistic divide between advertising and editorial teams (though Gallery Media Group brands are separate from Vaynerchuk's agency, VaynerMedia, both of which exist under the holding company VaynerX).
"There is no church-and-state wall," Harwood said, which is also how PureWow operates.
"The whole theory is: Great content should be great content, whether a brand pays for it or not," he said, though such sponsored content will be labeled per Federal Trade Commission regulations.
It sidesteps a potential concern about a publisher being owned by an agency, since if there is no wall to begin with, there is no wall to protect.
Vaynerchuk described the branded content as a "cosign from the logo." Branded content has been an integral part of PureWow as well, accounting for 85% of revenue when he bought the company.
"We do not want a separate team creating the branded content," Harwood said, adding that at launch, there will be five to seven editors working on One37pm.
One37pm is launching at an uncertain time for digital media, with a rocky advertising market and unreliable Facebook traffic for many outlets. But Harwood thinks he has an effective strategy in place.
PureWow's revenue "is growing double digits year over year still," he said. When PureWow sold to Vaynerchuk in early 2017, Harwood said, the company had been profitable for several years with about 30% margins. A source familiar with the matter said PureWow generated about $20 million in 2016.
"Our business model isn't predicated on selling against a programmatic landscape," Vaynerchuk said.
PureWow has stayed at about 11 million monthly unique visitors since Vaynerchuk bought it, according to ComScore, though Harwood said it had "grown social footprint over 5x."
Harwood said he didn't want to aggressively scale PureWow (or One37pm), which would be a tough proposition anyway, given the focus on native advertising and individualized brand deals. Instead, the goal is to assemble a bunch of PureWows targeted at different audiences — similar to a traditional magazine publisher's portfolio, or that of a company like Vox Media.
As for potential mergers and acquisitions, Harwood said the company was agnostic in "build versus buy."
"It's very possible in a year from now [we'll] buy a media brand," he said.
Vaynerchuk said that, however, "most things are overpriced right now."
What will you see on Day One from One37pm?
The brand is launching with a set of social channels — Instagram, Twitter, YouTube, Facebook — and a podcast sponsored by Belvedere Vodka called "Live from the Bar Cart." One of the first podcast guests will be the YouTube star Casey Neistat, who also very much embodies the brand spirit.
The landing page will be live at One37pm.com, but the website will launch a month later.
One social-media franchise Harwood and Vaynerchuk pointed to as particularly representative of the brand is called #Face2FaceTime, in which One37pm editors do one- to five-minute FaceTime interviews with notable people. The idea is to get their "hot take in that moment," Harwood said — to get in the head of someone who is "grinding right now."
Mary Kate McGrath, Gallery Media Group's chief content officer, said she saw the brand as "filling a white space" in the market, particularly because of its focus on young men.
But Harwood said One37pm is just the start.
With a "VC-backed or public company, you think in 90-day terms," Harwood said. "For the first time in my career, I'm able to think long term."