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

Strategic focus and portfolio management

• Core assets identified as MGM and the media business, with capital allocated to share buybacks and selective M&A.

• Non-core assets like Vivian Health, The Daily Beast, and Turo are performing well and being positioned for monetization or divestiture.

• An offer was made to buy out the remaining MGM stake, with a resolution expected within 60 days from June 1.

• Ongoing efforts to simplify the ownership structure and reduce corporate costs, targeting a $45 million run rate by Q2 next year.

• Turo, Vivian Health, and The Daily Beast are considered for exit, with Turo's IPO or sale as preferred paths.

Digital revenue strategy and growth initiatives

• Digital revenue is split between session-based (flat, 57% of revenue) and non-session-based (growing ~20%, 43% of revenue) streams.

• Non-session-based revenue includes events, social, licensing, and ad targeting, with significant investment to drive growth.

• Double-digit digital revenue growth remains the long-term goal, with current guidance in the mid to high single digits.

• New brand-led initiatives, such as membership programs and content bundles, are expected to collectively drive future growth.

• Performance marketing and affiliate commerce continue to show strong growth and deep retailer partnerships.

Licensing, AI, and legal developments

• Licensing is the fastest-growing segment, driven by content distribution, product licensing, and new AI deals.

• AI licensing deals have been signed with OpenAI and Meta, with ongoing discussions for further agreements.

• The company is advocating for industry-wide monetization standards for content used in AI models.

• Legal action against Google for adtech market abuse is ongoing, with expectations of nine-figure restitution by 2027.

• Blocking AI crawlers and negotiating for fair compensation are key strategies in the evolving AI landscape.