People Incorporated (PPLI) Oppenheimer 29th Annual Technology, Internet & Communications Conference summary

Leadership and company overview

• CFO has over a decade of experience with the company and prior roles in corporate development and investment banking.

• The company is focused on simplifying its structure, identifying MGM and its media business as core assets.

• Majority stakes in Vivian and The Daily Beast are being positioned for divestiture, while a minority stake in Turo is also considered non-core.

• Monetization of non-core assets is planned to fund core business growth.

Strategic initiatives and catalysts

• An offer was made to acquire the remaining MGM stake, with a resolution expected within 60 days.

• If the MGM transaction does not proceed, capital will be allocated to share buybacks and increasing the MGM position.

• Ongoing legal action against Google for adtech market abuse, with expectations of significant restitution by 2027.

• AI licensing deals with OpenAI and Meta are in place, with further negotiations ongoing with other AI companies.

Revenue streams and growth strategy

• Digital revenue is split between session-based (website traffic) and non-session-based (events, social, licensing, ad tech) streams.

• Session-based revenue is flat due to Google Search headwinds, while non-session-based revenue grew 19% in the first half of the year.

• The company aims for double-digit digital revenue growth, driven by investment in non-session-based streams and new initiatives.

• Performance marketing, especially affiliate commerce, remains a strong and measurable growth area.