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Stephens
Conference
Management
Presentation
JUNE 2017
Caution Concerning Forward Looking Statements and
Non-GAAP Financial Measures
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995; particularly
statements regarding future financial and operating results of Time Inc. (the “Company”) and its business. These statements are based on
management’s current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially
from those expressed or implied in this presentation due to changes in economic, business, competitive, technological, strategic, regulatory
and/or other factors. More detailed information about these factors may be found in the Company’s filings with the Securities and Exchange
Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. The Company is under
no obligation, and expressly disclaims any such obligation, to update or alter its forward-looking statements, whether as a result of new
information, future events or otherwise.
Non-GAAP financial measures such as Operating income (loss) excluding Depreciation and Amortization of intangible assets (“OIBDA”),
Adjusted OIBDA, Adjusted Net Income, Adjusted Diluted Earnings Per Share (“EPS”) and Free cash flow, are supplemental measures that are
not calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). Definitions of these measures and reconciliations to
the most directly-comparable U.S. GAAP measures are included at the end of this presentation deck or on our website. Our non-GAAP financial
measures have limitations as analytical and comparative tools and you should consider OIBDA, Adjusted OIBDA, Adjusted Net Income,
Adjusted Diluted EPS and Free cash flow in addition to, and not as a substitute for, the Company’s Operating income (loss), Net income (loss)
attributable to Time Inc., Diluted EPS and various cash flow measures (e.g., Cash provided by (used in) operations), as well as other measures of
financial performance and liquidity reported in accordance with U.S. GAAP.
Note: Throughout the presentation, certain numbers may not sum to the total due to rounding.
All trademarks and service marks referenced herein are owned by the respective trademark or service mark owners.
©2017 Time Inc. Published 2017.
2
Time Inc. 120MM+ monthly
global print 4
170MM+
monthly
global print
and digital 3
Hundreds
of events
annually
265MM+
via global social
media
250MM+
U.S. consumer
registrations
3x
Video production
growth since 2014
~30MM
Subscribers
4.6B
(2016) video
starts
Top 10 U.S. Digital Media Property2
Massive User Scale
~40MM
Moms 3
3 out of 4
Millennials 3
3
Up from 81MM in June 2014
1
U.S. Multi-Platform Monthly Uniques (MM)
#1 U.S. digital audience in the Entertainment News
category 2
Top 10 U.S. digital audience for the Lifestyle category2
• #4 in Fashion/Beauty/Style
• #5 in Food
• #8 in Travel
Time Inc. is a multi-platform media company with
many of the world’s most iconic brands.
We have transitioned from Publisher to Platform.
We are unique.
No other player has this portfolio of powerful
brands and a content, data and marketing
platform under one roof.
U.S. print and digital reach is 70% of U.S. adults
each month3
#8 mobile media property on the web at 111MM—
more than LinkedIn, Twitter, Snapchat, Pandora,
ESPN, and BuzzFeed2
More than 2 out of 3 U.S. multicultural adults each
month across platforms3
241
203
192
181 178
161 157 155
142 137
Sources: 1) comScore Multi-Platform for Time Inc. custom entity; 2) comScore Multi-Platform April 2017; 3) 2017 comScore Multi-Platform, GfK/MRI Fusion (3-17/Fall 2016); 4) MRI Fall 2016, A.I.R. NRS (Jan.-Dec. 2015), TGI (2Q 2016), ABC (Jan.-Dec. 2015)
-
50
100
150
200
250
300
M
ill
io
n
s
Snapchat Flipboard LinkedIn Youtube Pinterest
Instagram Google Plus Twitter Facebook
365
446 490
605
826
1,003
1,251
1,507
2,622
1,105
0
500
1,000
1,500
2,000
2,500
3,000
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 Apr-17
100,000
105,000
110,000
115,000
120,000
125,000
130,000
135,000
140,000
4
SOCIAL REACH (MM)
Experiencing Explosive Growth
265MM+
TOTAL
GLOBAL
FOLLOWERS
5/2017
TOTAL U.S. UNIQUE VISITORS (MM)
10
105
115
120
125
130
135
140
137MM
TOTAL
UVs1
4/2017
4
U.S. VIDEO STARTS BY PLATFORM (MM)
Sources:
1) comScore Multiplatform for Tim e Inc. custom entity
1.1B
TOTAL
STARTS
4/2017
First
month
Time Inc.
exceeded
1B video
views.
Diverse Set of Influential Iconic Brands
Covering virtually every interest and passion
CELEBRITY &
ENTERTAINMENT
NEWS &
BUSINESS SPORTS LIFESTYLE
90MM
CONSUMERS 1
66MM
CONSUMERS 1
76MM
CONSUMERS 1
74MM
CONSUMERS 1
A/E: Add TI UK brands, plus Time
and Fortune Asia
5 Source:
1) comScore Multi-Platform//GfK/MRI Fusion (3-17/Fall 2016) ; 2) comScore Multi-Platform April 2017
Time Inc. Brands Over-Index with Millennials (18-34)2 for Digital Consumption
More Millennials than Snapchat, Vice and Vox
Print & Digital Audience2
65% Female2
53MM
55MM
47MM
90MM
Print Audience3
67% Female3
UVs1, 33% 18-341
Social Footprint
entertainment
CATEGORIES
6 Sources: 1) comScore Multi-Platform April 2017; 2) 2017 comScore Multi-Platform GfK/MRI Fusion (3-17/Fall 2016); 3) MRI Fall 2016; 4) comScore Multi-Platform December 2016; 5) PIB April 2017
#1 U.S. digital audience in Entertainment
News 10 of 12 months in 20164
Time Inc. Entertainment reaches 1 in 3 U.S.
adults across print and digital2
People is a cultural force:
#1 magazine in print5
Print and digital audience of ~70MM2
Reaches more than 1 in 3 moms each month2
Entertainment Weekly is #1 in print
advertising for the entertainment news
category4
People was a launch partner of Snapchat
Discover and is a top channel—Entertainment
Weekly has been added to the platform
Print & Digital
Audience2
69% Female2
48MM
48MM
86MM
74MM
Print Audience3
73% Female3
UVs1
35% 18-341
Social Footprint
lifestyle CATEGORIES
7
Sources:
1) comScore Multi-Platform April 2017; 2) 2017 comScore Multi-
Platform /GfK/MRI Fusion (3-17/Fall 2016); 3) MRI Fall 2016; 4) 2016
Fall GfK MRI; 5) PIB April 2017
Reaches nearly 1 in 3 U.S. women every month
across print and digital4
Top 10 U.S. digital audience for the Lifestyle
category:
• #4 in Fashion/Beauty/Style1
• #5 in Food1
• #8 in Travel1
Real Simple is the #1 most affluent women’s
magazine with a print and digital audience of
~20MM2
Nearly 1 in 5 southern women reads Southern
Living4, an Ad Age 2016 Magazine of the Year
InStyle is #2 in print advertising for the women’s
fashion category5
U.S. Print & Digital Audience1
33% 18-341
23MM
49MM
51MM
66MM
U.S. Print Audience2
40% HH Income >$100K2
U.S. UVs3
37% 18-343
Social Footprint
news & business
CATEGORIES
8
Sources: ;
1) 2017 comScore Multi-Platform GfK/MRI Fusion (3-17/Fall 2016); 2) MRI Fall 2016 ;
3) comScore Multi-Platform April 2017; 4) Omniture; 5) PIB April 2017
Time:
#1 U.S. weekly news magazine print audience2
60MM per month in U.S. print and digital audience reach1
34% of Time.com visitors are millennials (18-34)1
35% international visitors to Time.com4
#1 in print advertising for weekly news magazines5
Fortune:
#2 U.S. business magazine print audience2
17MM per month in U.S. print and digital audience reach1
41% of Fortune.com visitors are millennials (18-34)1
Motto launched in 2016—site focused on millennial
women
LIFE VR launched in 2016 as a virtual reality platform
Time Inc. has the power to convene. Event franchises
include TIME 100, Fortune Most Powerful Women,
Fortune Global Forum and Fortune Brainstorm.
40MM
U.S. Print & Digital Audience2
31% 18-342
21MM
76MM
67MM
U.S. Print Audience3
37% HH Income >$100K3
Social Footprint
U.S. UVs1
31% 18-341
CATEGORIES sports
9 Sources:
1) comScore Multi-Platform April 2017; 2) GfK/MRI Fusion (3-17/Fall 2016); 3) MRI Fall 2016; 4) PIB April 2017
#2 U.S. digital audience in the Sports category—
Fox Sports-SI Group-Perform Media1
Sports Illustrated—#1 U.S. sports magazine print
audience3
Sports Illustrated’s U.S. print and digital
audience is 42MM per month; 31% are
millennials (18-34)2
Sports Illustrated—#1 in print advertising for the
sports category4
FanSided is one of the fastest growing sports
and entertainment blog networks—24% YOY
growth1
Publisher
to
Platform
FROM SILOED BRANDS AND SUBSIDIARIES . . .
Decentralized Holding Company Model
11
. . . TO INTEGRATED PLATFORMS
Built for Scale, Integrated, and
Supporting the Consumer
Brand “Front Doors”
Aggressive
Transformation from
Publisher to Platform
Fragmented organizational structure and infrastructure
Difficult to go after scale solutions and opportunities
required to compete effectively
Consolidated structures for edit, ad sales,
technology and consumer marketing are
enabling more functional expertise and
speed
Collaboration across brands is unlocking
more efficiency and operating leverage
Acting as “One Time Inc.” allows for
larger-scale strategies and partnerships
11
Our Assets Work as One Platform
Across All Brands, Which Enables
Scale and Faster Growth
Consumers have deep relationships
with our brands, but our company
builds capabilities and goes to
market as one platform
Our consumer
“front doors” are
globally recognized
brands, and they are
growing audience
and new extensions. 1.2B
Global Registration Profiles
700MM
U.S. IP-connected devices
Top 10
U.S. Digital Property1
One of the biggest
U.S. subscriber bases
~30MM
Subscribers3
113MM
U.S. HHs mapped by IP address
170MM
Monthly U.S. Reach2
7 in 10 of the U.S. Adult Population
Across Print & Digital2
PLATFORMS TO POWER
OUR BRANDS & CONTENT
DISTRIBUTION PLATFORM:
MASSIVE AUDIENCE AND
ADVERTISING SCALE
REGISTERED DATA &
PEOPLE-BASED
TARGETING PLATFORM
SUBSCRIPTION AND
CONSUMER
MARKETING ENGINE
1 2 3 4
12 Sources: 1)comScore Multi-Platform April 2017; 2)comScore Multi-Platform, GfK/ MRI Fusion (3-17/Fall 2016); 3) 2H 2016 AAM Snapshot
+
1
3
Multi-Media
Content
Multimedia Content
Engine
TV Programming
/ OTT
Brand Licensing /
Affiliate
Events &
Live Media
Hundreds of stories, videos and photo
galleries every day
Thousands of posts/day on social
Thousands of print editorial pages / month
Publishing everywhere in all formats (AMP,
IA, Apple News)
People Magazine Investigates series on
Discovery ID
Emmy nomination for PBS
series for Time: A Year in Space
PEN OTT network launch
Xumo
Fortune’s Most
Powerful Women
Time 100
SI Swimsuit
400K+ attendees at
Essence Festival
International Extensions
Real Simple products in
Bed Bath & Beyond
Southern Living products
in Dillard’s
Growing affiliate e-commerce
revenue through lower funnel
editorial
Expand international licensing
MULTI MEDIA CONTENT ENGINE
Expanding our Brands in Multiple Dimensions
13
Reorganized to Break Down Silos & Increase Collaboration
Significant changes to position us for greater cross-platform success
• Unified editorial enables sharing content across the entire portfolio and seamlessly implementing changes and innovation.
• All digital editors have joint reporting to brand editor and one of two digital directors.
• Journalists remain with brands but coordinate through digital desks. For instance, journalists in 10 brands that do food
content coordinate to serve their combined audience of over 30MM monthly unique visitors.1
1) Centralized editorial under Chief
Content Officer Alan Murray
2) Clustered across brands and
digital desks to pursue efficiencies
and cross-platform success
3) Integrated print and digital
editorial and operations
Ten digital desks make assignments and coordinate reporting in
areas where we can win digitally
EDITORIAL
Celebrity Entertainment News Sports
Fashion & Beauty
Food
Travel
Tech
Home
Health
14
Source:
1) April 2017 comScore
Integrated Sales Team Brings the Best of the Portfolio to Clients
1
5
Centers of Excellence Support Reps Across Products
VIDEO
TI Studios & Food Studios
Private exchange capability
with all major trading desks,
DSPs, and DMPs
1) Centralized Sales: Focused on
eleven customer categories
2) Enterprise Selling: Bring all
brand offerings to the advertiser
and agency at once
3) Brand & Product Experience: COEs
(Centers of Excellence) support sales teams in
developing and selling brands and key products
Managed service targeting platform
Multi-platform attribution
Native (print/digital), Brand,
Video & Social Amplify
Local targeting
(cover wraps, digital)
Structured to Sell All Brands Across Print & Digital
Ad Sales Categories
Entertainment | Beauty | Fashion & Retail | Home | Pharma | Travel | Finance | Industry/Government |
Tech/Telco | Auto | Food & Beverage
$1.7B Time Inc. Total 2016 Advertising Revenue
15
Programmatic
ADVERTISING SALES
Event Ticketing
Print
Subscriptions
Consumer Marketing Now Works Across the
Enterprise to Support All Areas of Growth
(Ad sales,
product testing)
(Sales, inventory
management, distribution)
(Acquisition, renewal,
customer service)
(Synapse,
BizRates Insights)
DIGITAL AD
CHANNELS
(SEM, Social, Ads)
OFFLINE
CHANNELS
(Mail, TV)
CONSUMER
INSIGHTS
CONSUMER
TRANSACTION
PLATFORM
DATA,
RESEARCH &
INSIGHTS
TIME INC.
RETAIL
1 2 3 4 5 6
CONSUMER MARKETING PLATFORM
New Paid
Consumer
Products and
Services
New Product
Launches
$944MM
Time Inc. Total 2016
Circulation Revenue
16
Add language for each point
CONSUMER MARKETING & REVENUE
Centrally Optimizing
Spend
360 View of the
Customer
Unify for Fulfillment Centralized Data
Repository
Key
Growth
Areas
The Foundry has established a strong reputation for native, and
it is organized for category expertise and to build content across
print and digital.
Time Inc. native revenues grew almost 2x from 2015 to 2016.
Our sales team is experienced in selling content creation and
distribution, our most credible asset, built upon 100 years of
editorial know-how.
We are investing behind our Foundry Enterprise product, which
makes content and operates sites and social accounts for
marketers.
We are also investing in a proprietary native ad platform to
enable Time Inc. to scale fast-growing native operations.
Native /Branded Content
Our immersive content experiences
help brands tell their stories so they
resonate with the right audiences at
the right time
DIGITAL ADVERTISING
>2x
$9B1
Market will grow
From 2015-18 to
18
Source:
1) Socintel 360
~600
Native & Branded Programs in 2016
19
Time Inc. Video is attracting fans at a record rate,
including an entirely new generation of viewers.
In 2017, we plan to produce more than 50,000
videos - including 150 new and returning
franchises and series, and over 1,500 live
programming hours.
In April 2017, we achieved more than one billion
video views across our network and are on pace
to exceed 8.5 billion views this year, nearly
doubling versus the previous year.
This year, we are launching social-only video
brands to feed the insatiable demand for social
video and drive the native revenue opportunity in
key ad verticals:
• Food: Well Done (launched March 2017)
• Beauty: The Pretty (launched May 2017)
• Drinks: Barrel (launching late 2017)
• Home: ReMade (launching Fall 2017)
Video
Time Inc. has built major video capabilities and video has
quickly become the new way we tell stories.
VIDEO STARTS (MM)
Sources:
1) Internal, Omniture, Facebook, Google, Snapchat, Twitter
DIGITAL ADVERTISING
365
446 490
605
826
1,003
1,251
1,507
2,622
1,105
0
500
1,000
1,500
2,000
2,500
3,000
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 Apr-17
First
month
Time Inc.
exceeded
1B video
views.
The average U.S. household owns 7.8 Internet-connected
devices1, but marketers typically can identify only one of them
during Web visits, making it challenging to optimize frequency
and measure ROI.
Time Inc. + Viant is a competitor to the “walled gardens” and the
only “web publisher” to have this data and premium brands
under one roof.
Multiple market approaches:
1. Time Inc. Audience Amplify: Ability to target and extend
Time Inc.’s premium audiences with Viant people-based
targeting (on and off owned sites)
2. Core Viant Targeting product – Match
250 MM
People-Based Data
& Targeting
Time Inc. and Viant help advertisers reach specific targeted
people and audiences, maximizing ROI
Registered U.S.
Profiles
4B
Ad Requests / Day
Time Inc. + Viant: Advertisers can find and measure
ROI against people-based targets across owned
and third-party sites
Open platform with self-serve,
programmatic integrations
SCALABLE
Time Inc. Sites
PREMIUM
20
Source:
1) March 2016 NPD report
DIGITAL ADVERTISING
21
Brand Extensions
Extending Time Inc.’s brands to products
worldwide, and monetizing against our
existing editorial
Brand Licensing TV & Long Form Events
21
Time Inc. Productions is a full-service
production company leveraging Time Inc.’s
iconic brands to create and monetize
original programming
Time Inc. has the power to convene
consumers and industry leaders across
the globe.
• Fast growing business with an estimated 40 hours of programming to be
licensed to various networks in 2017, up from 4 hours in 2014
• TIME’s A Year in Space special was nominated for a Primetime Emmy
• PEOPLE launched a 10-episode true crime show, People Magazine
Investigates, with Discovery ID Network; just renewed for Season 2
• Licensed 4-hour, two night prime time special to ABC on the life of Princess
Diana with PEOPLE
• Deals secured already in 2017 with networks including ABC, Netflix,
Animal Planet and Discovery ID
• Coastal Living launched a home collection at Bed Bath & Beyond
• Food & Wine is partnering with HSN to develop a branded product
range that will touch on cookware, cutlery, kitchen tools and
accessories, small kitchen appliances and more (October 2017)
• Fortune is working with the University of North Carolina Kenan-
Flagler Business School (UNC Kenan-Flagler) to create new online
programs
• Real Simple launched Real Simple Clean, a new cleaning products line
that is made from eco-responsible ingredients
• Aspen Food & Wine Classic
• Sports Illustrated Swimsuit will continue to evolve the franchise into a
music and food festival to celebrate the next generation of models
• Time 100 international expansion
• Fortune Global Forum, now annually, expanding internationally
(Guangzhou)
• Fortune Brainstorm Series expanded to Cloud, Health
• Fortune Most Powerful Women (Next Generation)
• Essence Fest in Durban South Africa in 2016
ONLINE PROGRAMS
Financial
Highlights
1Q17 Financial Highlights
23
Total revenues $636 million
Print advertising revenues $212 million
Digital advertising revenues $119 million
Circulation revenues $205 million
Other Revenues $100 million
Operating Loss of $26 million
Adjusted OIBDA of $23 million
Quarter-end cash, cash equivalents and short-term investments of $281 million or $2.83 per share
As of 3/31/17, net leverage ratio of 2.47x—target leverage range of 2.0x to 2.5x; plan to de-lever
the balance sheet underway to move toward the low end of our target leverage range.
Appendix
25
(1) OIBDA is defined as Operating income (loss) excluding Depreciation and Amortization of intangible assets.
(2) (Gain) loss on operating assets, net primarily reflects the recognition of the deferred gain from the sale-leaseback of the Blue Fin Building that was completed in the
fourth quarter of 2015.
(3) Other costs related to mergers, acquisitions, investments and dispositions during the periods presented are included within Selling, general and administrative
expenses within the Statements of Operations.
(4) Adjusted OIBDA is defined as OIBDA adjusted for impairments of Goodwill, intangible assets, fixed assets and investments; Restructuring and severance costs;
(Gain) loss on operating assets, net; Pension settlements/curtailments; and Other costs related to mergers, acquisitions, investments and dispositions.
TIME INC.
RECONCILIATION OF OPERATING INCOME (LOSS) TO ADJUSTED OIBDA
(Unaudited; in millions)
Schedule I
Three Months Ended
March 31,
2017 2016
Operating income (loss) $ (26 ) $ (3 )
Depreciation 13 13
Amortization of intangible assets 20 21
OIBDA(1) 7 31
Restructuring and severance costs 16 1
(Gain) loss on operating assets, net(2) (2 ) (3 )
Other costs(3) 2 14
Adjusted OIBDA(4) $ 23 $ 43
