Woo, an ITV-backed media brand initiated by former LADbible CMO Stephen Mai, has shut down after just two years since its inception. The brand, aimed at becoming the “defining Gen Z media business,” encountered several challenges resulting in its closure.
Woo was described as “an antidote to the toxic news cycle,” providing a range of content including shows, editorials, and products designed to uplift its audience. Content categories spanned wellness, culture, joy, fashion, beauty, sex and relationships, music, film and TV, travel, and fitness. The brand’s content was available on its website, social media platforms, and ITV’s on-demand service, ITV Hub (rebranded to ITVX).
The primary revenue streams for Woo were video content and an e-commerce marketplace offering products like clothing. ITV supported Woo through its Studio 55 investment arm, aiming to better connect with the 16 to 35-year-old demographic. At the launch, Mai ambitiously aimed to reach 45 million people in Woo’s first month and achieve 12 million website visits within a year, in addition to growing a substantial social media following.
Announcing the closure on LinkedIn, Mai disclosed that the website had reached a peak of one million users per month and garnered five million monthly video views. He claimed, however, that it reached “hundreds of millions” on social media. Mai said, “Building Woo has been one of the highlights of my career. We’ve achieved milestones I once thought impossible, launching an award-winning media brand and e-commerce platform against the backdrop of tough economic conditions and a shifting marketplace.”
Mai further explained, “The major e-commerce platforms shuttered, the advertising and retail markets faced challenges not seen since the financial crises. Perhaps my ambition to evolve the commercial model for a financially sustainable media brand never really stood a chance. Building an ambitious startup within a legacy media business was challenging. Doing it post-pandemic with hiring crises, COVID interruptions, and a shift in workplace culture taught me some lessons. Accomplishing this in six months (media brand) and a year (marketplace) is wild on reflection.” He added, “Media still needs to figure out how to work in a landscape of creators and dwindling advertising revenues. I look forward to seeing how this space evolves.”
Woo employed between 11 and 50 staff members, with 49 individuals listed on LinkedIn as connected to the company. The website detailed 33 employees, including a leadership team of five, along with personnel in editorial, social media, video production, design, marketing, e-commerce, and operations.
The closure of Woo highlights the challenges faced by new media ventures in a rapidly evolving landscape, especially those targeting younger audiences. Despite its ambitious goals and initial success, the economic climate and market conditions proved too challenging for the Gen Z-focused brand to sustain.