WEBVTT 00:00:00.000 --> 00:00:02.740 I want you to picture a scenario that I guarantee 00:00:02.740 --> 00:00:05.040 has happened to you. You're at the grocery store. 00:00:05.660 --> 00:00:09.199 It's Tuesday. You're tired. You've got milk, 00:00:09.320 --> 00:00:11.880 maybe some eggs. You're waiting for the person 00:00:11.880 --> 00:00:13.339 in front of you to figure out their coupons. 00:00:13.980 --> 00:00:18.140 And your eyes just drift. Oh, yes. To the magazine 00:00:18.140 --> 00:00:20.739 rack. To the rack. It's just a wall of color, 00:00:20.839 --> 00:00:23.460 bright yellows, massive red fonts, and these 00:00:23.460 --> 00:00:26.260 glossy photos of people who look much, much happier 00:00:26.260 --> 00:00:29.260 and wealthier than anyone in that line. The checkout 00:00:29.260 --> 00:00:31.699 aisle distraction. Yeah. The universal human 00:00:31.699 --> 00:00:34.439 experience. It really is. And usually we just 00:00:34.439 --> 00:00:36.840 absorb it as background noise. Oh, look, a royal 00:00:36.840 --> 00:00:39.200 wedding. Oh, another divorce. Exactly. But today 00:00:39.200 --> 00:00:41.240 I want to stop the conveyor belt for a second 00:00:41.240 --> 00:00:43.420 because we are going to do a deep dive into the 00:00:43.420 --> 00:00:45.619 origin story of one of those glossy magazines. 00:00:46.320 --> 00:00:49.579 And not just anyone. No, not a generic tabloid. 00:00:49.659 --> 00:00:52.140 We are talking about the grandmother of them 00:00:52.140 --> 00:00:54.740 all. If you speak Spanish, you know it as hola. 00:00:54.740 --> 00:00:56.640 You speak English, you know it's child hello. 00:00:57.200 --> 00:00:58.840 Magazine. It's fascinating that you call it the 00:00:58.840 --> 00:01:00.939 grandmother because that implies it's old. And 00:01:00.939 --> 00:01:03.320 most people think celebrity culture is this very 00:01:03.320 --> 00:01:06.000 modern, you know, Internet fueled thing. Right. 00:01:06.159 --> 00:01:08.579 But the story we are digging into today starts 00:01:08.579 --> 00:01:12.280 way, way back in 1944. Which is an incredible 00:01:12.280 --> 00:01:14.379 detail. It completely threw me for a loop when 00:01:14.379 --> 00:01:16.879 I was reading the research. 1944. I mean, think 00:01:16.879 --> 00:01:19.700 about the context. The world is at war. Spain 00:01:19.700 --> 00:01:22.180 is recovering from its own civil war. It seems 00:01:22.180 --> 00:01:25.079 like the absolute worst time to launch a glossy 00:01:25.079 --> 00:01:28.060 magazine about the good life. But that is exactly 00:01:28.060 --> 00:01:31.840 what happened. So, OK, let's unpack this. We 00:01:31.840 --> 00:01:33.680 aren't just talking about gossip today. We're 00:01:33.680 --> 00:01:36.019 talking about a business empire that started 00:01:36.019 --> 00:01:39.060 at like a kitchen table. That is the perfect 00:01:39.060 --> 00:01:41.200 way to frame it. This isn't just about who is 00:01:41.200 --> 00:01:44.439 dating whom. This is a business case study on 00:01:44.439 --> 00:01:46.900 how to identify a massive gap in the market, 00:01:47.019 --> 00:01:49.099 specifically what they call the women's industry, 00:01:49.260 --> 00:01:51.980 and build a global brand around it. So that's 00:01:51.980 --> 00:01:55.030 our mission for this deep dive. Exactly. To trace 00:01:55.030 --> 00:01:57.609 that line from a small family operation in Barcelona 00:01:57.609 --> 00:02:01.209 to the massive media conglomerate that sits on 00:02:01.209 --> 00:02:04.129 newsstands in 15 different countries today. Okay, 00:02:04.150 --> 00:02:09.509 so set the scene for us. 1944, Barcelona. Who 00:02:09.509 --> 00:02:12.069 wakes up and decides, you know what this city 00:02:12.069 --> 00:02:15.789 needs? A magazine. That man would be Antonio 00:02:15.789 --> 00:02:18.389 Sanchez Gomez. And from everything we've read, 00:02:18.490 --> 00:02:21.330 he wasn't your typical media tycoon. No board 00:02:21.330 --> 00:02:23.250 of directors or anything like that? No, no venture 00:02:23.250 --> 00:02:26.990 capital. He founded Hula on September 2, 1944, 00:02:27.330 --> 00:02:29.629 right there in Barcelona. And the most striking 00:02:29.629 --> 00:02:32.490 thing about the early days is just how small 00:02:32.490 --> 00:02:35.030 the operation was. I think small might even be 00:02:35.030 --> 00:02:37.210 an understatement. The research mentions a mom 00:02:37.210 --> 00:02:39.469 -and -pop dynamic, but usually that's just, you 00:02:39.469 --> 00:02:41.289 know, marketing fluff. Right, like, oh, we're 00:02:41.289 --> 00:02:43.469 a family business, but they have 5 ,000 employees. 00:02:43.729 --> 00:02:46.229 Yes. But in this case, it was literal. It was 00:02:46.229 --> 00:02:48.780 literal. Antonio ran the magazine until his death 00:02:48.780 --> 00:02:52.680 in the 1970s. But the staff, it wasn't just random 00:02:52.680 --> 00:02:55.379 hires. It was predominantly his relatives. And 00:02:55.379 --> 00:02:57.759 this family dynamic wasn't just about, you know, 00:02:57.759 --> 00:03:00.020 giving your cousin a job. It was about quality 00:03:00.020 --> 00:03:02.800 control. That's the key. And there's this incredible 00:03:02.800 --> 00:03:05.219 detail in the sources about his wife's role in 00:03:05.219 --> 00:03:07.439 the whole production. This was my favorite part 00:03:07.439 --> 00:03:09.759 of the prep reading. Because you imagine these 00:03:09.759 --> 00:03:12.939 big editorial meetings with art directors screaming 00:03:12.939 --> 00:03:16.020 about layouts. But tell us who was actually doing 00:03:16.020 --> 00:03:18.680 the work. It was the founder's wife. She was 00:03:18.680 --> 00:03:22.219 known to personally step in and handle the layout 00:03:22.219 --> 00:03:25.319 for the most important spreads. Which ones? Specifically, 00:03:25.340 --> 00:03:29.219 the royal weddings. I just love that image. Imagine 00:03:29.219 --> 00:03:31.719 the scene. You have this growing publication. 00:03:31.860 --> 00:03:34.659 People are waiting for the coverage of a massive 00:03:34.659 --> 00:03:37.500 royal event. And the founder's wife is there. 00:03:37.719 --> 00:03:40.000 Maybe with scissors and paste. Deciding, no, 00:03:40.139 --> 00:03:41.979 the princess looks better on the left page. It 00:03:41.979 --> 00:03:44.680 sounds... Charming, almost quaint, doesn't it? 00:03:44.800 --> 00:03:47.060 But if we look at it through a business lens, 00:03:47.319 --> 00:03:49.819 it tells us something really crucial about their 00:03:49.819 --> 00:03:52.319 strategy. What's that? They treated the product 00:03:52.319 --> 00:03:54.860 with an intense level of personal care. They 00:03:54.860 --> 00:03:57.000 weren't just slapping photos on a page to make 00:03:57.000 --> 00:03:59.840 a quick buck. They were curating an aesthetic. 00:04:00.159 --> 00:04:03.259 So that family feel translated into the product 00:04:03.259 --> 00:04:06.000 itself. Exactly. The magazine felt intimate, 00:04:06.139 --> 00:04:08.699 like it was being shared by a family for a family. 00:04:08.800 --> 00:04:12.330 And eventually... kitchen table style of management 00:04:12.330 --> 00:04:14.169 had to scale up. I mean, they couldn't stay in 00:04:14.169 --> 00:04:16.410 Barcelona forever. No, eventually the headquarters 00:04:16.410 --> 00:04:18.449 moved to Madrid, which makes sense. If you want 00:04:18.449 --> 00:04:19.990 to be a national player in Spain, you go to the 00:04:19.990 --> 00:04:22.649 capital. But even with that move and all the 00:04:22.649 --> 00:04:25.629 growth, that family control remained incredibly 00:04:25.629 --> 00:04:28.449 tight. Now, here is where it gets really interesting 00:04:28.449 --> 00:04:33.740 to me. Because today, if I pick up hello or hola, 00:04:33.779 --> 00:04:36.980 I know exactly what I'm getting. Celebrities, 00:04:37.139 --> 00:04:40.019 royalty, red carpets. The whole deal. Yeah. But 00:04:40.019 --> 00:04:41.579 you're telling me that wasn't the original pitch? 00:04:41.839 --> 00:04:44.199 Not at all. And this is a classic example of 00:04:44.199 --> 00:04:47.199 a business pivot before that word became a buzzword 00:04:47.199 --> 00:04:49.360 in Silicon Valley. So what was the initial concept? 00:04:49.720 --> 00:04:53.019 When Antonio first launched it in 44, the concept 00:04:53.019 --> 00:04:56.100 was a generic family magazine, just wholesome, 00:04:56.160 --> 00:04:59.110 broad appeal. And it had... A section that I 00:04:59.110 --> 00:05:01.189 just cannot wrap my head around. Let me guess. 00:05:01.250 --> 00:05:03.569 A self -help section. It did. Can you imagine? 00:05:03.589 --> 00:05:06.470 You open a tabloid today and next to photos of 00:05:06.470 --> 00:05:08.550 a movie star's vacation, there's an article on 00:05:08.550 --> 00:05:12.790 how to be more productive or how to find inner 00:05:12.790 --> 00:05:15.430 peace. It feels like two completely different 00:05:15.430 --> 00:05:17.930 worlds. It does now. But back then, they were 00:05:17.930 --> 00:05:19.870 throwing things at the wall to see what stuck. 00:05:20.509 --> 00:05:23.290 And this is where Antonio Sanchez Gomez showed 00:05:23.290 --> 00:05:26.149 his genius. He was looking at the numbers, looking 00:05:26.149 --> 00:05:29.350 at reader response, and he realized the self 00:05:29.350 --> 00:05:32.129 -help stuff. It just wasn't the hook. He wasn't 00:05:32.129 --> 00:05:34.589 sticky enough. Exactly. He had this realization 00:05:34.589 --> 00:05:37.470 about the women's industry. He saw that there 00:05:37.470 --> 00:05:41.069 was a massive underserved market for pure escapism. 00:05:41.470 --> 00:05:43.949 Oh. Women didn't necessarily want to be told 00:05:43.949 --> 00:05:46.230 how to fix their lives in that format. They wanted 00:05:46.230 --> 00:05:48.269 to see a life that was bigger, brighter, more 00:05:48.269 --> 00:05:50.610 glamorous than their own. So he pivots from how 00:05:50.610 --> 00:05:53.230 to fix your life to look at this amazing life. 00:05:53.389 --> 00:05:55.970 That is the core shift. He moved away from general 00:05:55.970 --> 00:05:58.509 family advice and just zeroed in on the doings 00:05:58.509 --> 00:06:00.370 of royalty. Which makes so much sense, right? 00:06:00.430 --> 00:06:03.009 Especially in Europe. Royalty is the original 00:06:03.009 --> 00:06:05.170 celebrity. It is. But think about the timing 00:06:05.170 --> 00:06:08.430 again. Post -war Europe. Times are tough. The 00:06:08.430 --> 00:06:11.170 economy isn't great. The appeal of royalty in 00:06:11.170 --> 00:06:14.930 that context is huge. It's a fairy tale. It offers 00:06:14.930 --> 00:06:17.629 a window into a world where everything is beautiful, 00:06:17.850 --> 00:06:20.649 organized, and wealthy. It was the ultimate counter 00:06:20.649 --> 00:06:23.930 -programming to the grim reality of the 1940s 00:06:23.930 --> 00:06:25.889 and 50s. That's such a good way to put it. It's 00:06:25.889 --> 00:06:28.949 not just gossip. It's a relief valve. It's fantasy. 00:06:29.269 --> 00:06:32.029 But here's the thing that makes Ola... really 00:06:32.029 --> 00:06:35.350 distinct. They didn't just stay in Spain talking 00:06:35.350 --> 00:06:38.069 about Spanish counts and countesses. They went 00:06:38.069 --> 00:06:40.870 global. But they didn't just copy paste the magazine, 00:06:41.050 --> 00:06:43.310 did they? No. And this is the second stroke of 00:06:43.310 --> 00:06:46.769 business genius. Localization. As they look to 00:06:46.769 --> 00:06:48.829 expand into the English speaking world in Latin 00:06:48.829 --> 00:06:51.889 America, they realize that the royalty angle 00:06:51.889 --> 00:06:54.139 had its limits. Right. Because if you're trying 00:06:54.139 --> 00:06:57.620 to sell magazines in, say, Ohio or Buenos Aires, 00:06:57.860 --> 00:07:00.920 the intricate details of a Spanish duke's wedding 00:07:00.920 --> 00:07:03.839 might not land the same way. Precisely. The Spanish 00:07:03.839 --> 00:07:06.800 version of Ola, even today, stays very true to 00:07:06.800 --> 00:07:09.639 those roots. It relies heavily on European royalty. 00:07:09.800 --> 00:07:11.639 That's their bread and butter. But when they 00:07:11.639 --> 00:07:13.420 looked at the Americas, they realized they needed 00:07:13.420 --> 00:07:15.160 a different kind of royalty. We needed Hollywood. 00:07:15.319 --> 00:07:18.759 They needed the American royalty. Movie stars. 00:07:19.519 --> 00:07:24.639 Singers. The glitterati. The English and Latin 00:07:24.639 --> 00:07:27.259 American versions of the magazine shifted their 00:07:27.259 --> 00:07:29.839 focus. But they kept the style. They kept the 00:07:29.839 --> 00:07:32.379 glossy style, the respectful tone, the high quality 00:07:32.379 --> 00:07:35.600 photos, but they swapped the subjects. It's so 00:07:35.600 --> 00:07:37.540 smart because it keeps the brand identity, that 00:07:37.540 --> 00:07:40.079 glossy, respectful look, but just changes the 00:07:40.079 --> 00:07:42.680 ingredients for the local market. And that localization 00:07:42.680 --> 00:07:44.899 strategy is likely the main reason they survived 00:07:44.899 --> 00:07:47.639 and grew. If they had tried to force Spanish 00:07:47.639 --> 00:07:49.720 aristocracy down the throats of American readers, 00:07:49.939 --> 00:07:52.230 they would have failed. Instead, they just asked, 00:07:52.290 --> 00:07:55.050 who are your kings and queens? And in the U .S., 00:07:55.050 --> 00:07:57.449 that's the people holding the Oscars. I want 00:07:57.449 --> 00:07:59.629 to pause on the hello connection for a second 00:07:59.629 --> 00:08:02.009 because I feel like this is the aha moment for 00:08:02.009 --> 00:08:03.410 a lot of English speakers listening. I would 00:08:03.410 --> 00:08:05.389 think so, too. I remember seeing Hello Magazine 00:08:05.389 --> 00:08:07.430 my whole life and never realizing it was just 00:08:07.430 --> 00:08:11.750 a translation. It's literal. Hola means hello. 00:08:12.009 --> 00:08:15.490 It's the same DNA. Hello, the U .K. Hello, Canada. 00:08:15.689 --> 00:08:18.620 Hola. USA. These aren't knockoffs. They're the 00:08:18.620 --> 00:08:20.500 official children. They are the children of that 00:08:20.500 --> 00:08:23.180 original Barcelona parent company. You are holding 00:08:23.180 --> 00:08:25.420 a piece of Spanish business history every time 00:08:25.420 --> 00:08:27.300 you pick one up at the airport. And the reach 00:08:27.300 --> 00:08:29.939 is honestly staggering. When I looked at the 00:08:29.939 --> 00:08:32.120 list of countries where this magazine is published, 00:08:32.320 --> 00:08:34.220 it just blew my mind. We aren't just talking 00:08:34.220 --> 00:08:36.460 about a couple of neighbors. No, the footprint 00:08:36.460 --> 00:08:39.940 is massive. Published in Madrid, yes, but also 00:08:39.940 --> 00:08:42.759 in 15 other countries. I made a list because 00:08:42.759 --> 00:08:45.100 I wanted to visualize the map. We've got the 00:08:45.100 --> 00:08:48.080 Americas covered. Argentina, Brazil, Canada, 00:08:48.259 --> 00:08:51.500 Chile, Colombia, Mexico, Peru, Puerto Rico, the 00:08:51.500 --> 00:08:54.480 U .S., Venezuela. But then you jump oceans. Right. 00:08:54.559 --> 00:08:56.879 You've got the U .K., obviously, but then Greece, 00:08:57.200 --> 00:09:01.220 Indonesia, Pakistan. Pakistan. The Philippines, 00:09:01.559 --> 00:09:04.940 Thailand. Think about the cultural differences 00:09:04.940 --> 00:09:08.220 in that list. Yeah. Pakistan and Brazil. Thailand 00:09:08.220 --> 00:09:10.679 and Canada. Those are vastly different cultures, 00:09:10.759 --> 00:09:12.620 different religions, different social structures. 00:09:12.779 --> 00:09:16.320 And yet this format works. This glossy, aspirational 00:09:16.320 --> 00:09:19.779 window into the lives of the famous nun. It works 00:09:19.779 --> 00:09:21.740 in all of them. And the languages reflect that, 00:09:21.759 --> 00:09:23.779 too. It's not just English and Spanish. Right. 00:09:23.860 --> 00:09:26.179 It's published in Portuguese, Turkish, Thai, 00:09:26.519 --> 00:09:30.779 traditional Chinese, Greek, Serbian. Wow. It 00:09:30.779 --> 00:09:33.000 just proves that curiosity about high -status 00:09:33.000 --> 00:09:35.620 individuals is a universal human trait. It doesn't 00:09:35.620 --> 00:09:37.659 matter what language you speak, you want to see 00:09:37.659 --> 00:09:39.679 the wedding photos. And they kept expanding even 00:09:39.679 --> 00:09:41.620 recently. The source mentioned they launched 00:09:41.620 --> 00:09:44.559 the Argentina edition in 2010. Well into the 00:09:44.559 --> 00:09:47.000 digital age. Right. While other print magazines 00:09:47.000 --> 00:09:48.759 were dying off, they were still planting new 00:09:48.759 --> 00:09:51.379 flags. Which brings us to the numbers. Because 00:09:51.379 --> 00:09:53.340 you can launch in 50 countries, but if nobody 00:09:53.340 --> 00:09:55.019 buys the thing, you don't have a business. Okay, 00:09:55.080 --> 00:09:57.700 so let's look at the trajectory. 1944, first 00:09:57.700 --> 00:10:00.179 week of production in Barcelona. How many copies 00:10:00.179 --> 00:10:02.759 did Antonio sell? That first week, they moved 00:10:02.759 --> 00:10:06.200 4 ,000 copies. Which, honestly, for a guy in 00:10:06.200 --> 00:10:09.519 1944 starting from scratch, isn't terrible. But 00:10:09.519 --> 00:10:11.919 it's a long way from an empire. A very humble 00:10:11.919 --> 00:10:14.879 start. But fast forward to the modern era. If 00:10:14.879 --> 00:10:17.759 you combine the readership of Hola and all its 00:10:17.759 --> 00:10:20.299 sister magazines, the Hillel... brands and so 00:10:20.299 --> 00:10:22.980 on. What are we looking at? You are looking at 00:10:22.980 --> 00:10:26.559 more than a million readers a week. From 4 ,000 00:10:26.559 --> 00:10:30.080 to over a million. That is serious scale. And 00:10:30.080 --> 00:10:32.399 if you look at the historical context in Spain 00:10:32.399 --> 00:10:34.919 specifically, you see just how dominant they 00:10:34.919 --> 00:10:39.279 became. In 1993, the circulation was around 654 00:10:39.279 --> 00:10:41.559 ,000. And that's just in Spain? Just in Spain. 00:10:42.139 --> 00:10:44.980 Even in 2005, when the Internet was really starting 00:10:44.980 --> 00:10:47.659 to eat into print media, they were sitting at 00:10:47.659 --> 00:10:49.500 over half a million copies. So where does that 00:10:49.500 --> 00:10:51.879 put them in the food chain over there? In Spain, 00:10:51.940 --> 00:10:54.519 they are the second most popular magazine, right 00:10:54.519 --> 00:10:57.360 behind a magazine called Pronto. They aren't 00:10:57.360 --> 00:10:59.419 just a niche publication. They are a mainstream 00:10:59.419 --> 00:11:02.139 juggernaut. OK, so we have the history. We have 00:11:02.139 --> 00:11:05.419 the strategy, the numbers. But there is one final 00:11:05.419 --> 00:11:07.120 piece of this puzzle that I think is the most 00:11:07.120 --> 00:11:10.379 surprising. It's about influence, because usually 00:11:10.379 --> 00:11:12.909 when we talk about gossip mags. We dismiss them. 00:11:12.990 --> 00:11:15.649 We say, oh, that's trashy. That's not real news. 00:11:15.850 --> 00:11:17.970 You put them in a separate box. Yeah. Serious 00:11:17.970 --> 00:11:20.990 news is for the broadsheet newspapers and entertainment 00:11:20.990 --> 00:11:24.370 is for the glossy magazines. Exactly. If you 00:11:24.370 --> 00:11:26.669 are a politician, you go to the serious newspaper. 00:11:26.870 --> 00:11:28.690 You don't go to the place with the soap opera 00:11:28.690 --> 00:11:31.549 stars. But Huller broke that rule. In a major 00:11:31.549 --> 00:11:34.070 way. This is the story that really cements their 00:11:34.070 --> 00:11:37.679 status. We have to talk about Felipe González. 00:11:37.779 --> 00:11:40.299 The former prime minister of Spain. A serious 00:11:40.299 --> 00:11:43.139 political figure. Yeah. The leader of the country. 00:11:43.259 --> 00:11:46.919 Now imagine you are the prime minister. You want 00:11:46.919 --> 00:11:48.940 to give your first interview while in office. 00:11:49.259 --> 00:11:51.600 Okay. You want to set the tone for your administration. 00:11:52.019 --> 00:11:54.500 Who do you call? In the U .S., you'd call the 00:11:54.500 --> 00:11:57.159 New York Times or the Washington Post. In the 00:11:57.159 --> 00:12:00.980 U .K., maybe the BBC or the Times. Right. You 00:12:00.980 --> 00:12:03.000 want gravitas. You want seriousness. Of course. 00:12:03.200 --> 00:12:06.250 But Felipe González. Didn't do that. He gave 00:12:06.250 --> 00:12:08.789 his first interview while in office to Hurla. 00:12:09.049 --> 00:12:11.950 I still can't get over this. A sitting prime 00:12:11.950 --> 00:12:14.070 minister sitting down with a magazine that covers 00:12:14.070 --> 00:12:16.370 royal weddings and celebrity breakups. It feels 00:12:16.370 --> 00:12:18.529 like such a risky move. It feels risky to us, 00:12:18.610 --> 00:12:21.110 maybe. But think about it from his perspective. 00:12:21.309 --> 00:12:24.269 Why would he do that? Well, if he goes to the 00:12:24.269 --> 00:12:26.169 New York Times equivalent, he's talking to the 00:12:26.169 --> 00:12:28.070 elites. He's talking to the intellectuals, the 00:12:28.070 --> 00:12:30.629 political junkies. Exactly. But if he goes to 00:12:30.629 --> 00:12:33.009 whole lot. By talking to the people. He is talking 00:12:33.009 --> 00:12:35.250 to the millions of people standing in that grocery 00:12:35.250 --> 00:12:38.850 store line. He's talking to the voters. It was 00:12:38.850 --> 00:12:41.549 a brilliant populist move. It kind of legitimized 00:12:41.549 --> 00:12:43.669 the magazine, didn't it? As a place for a real 00:12:43.669 --> 00:12:47.159 conversation. It did that, but it also humanized 00:12:47.159 --> 00:12:49.080 him. It put him right next to the movie stars 00:12:49.080 --> 00:12:51.120 and the princesses. It blurs that line. It says 00:12:51.120 --> 00:12:53.100 the prime minister is just another high status 00:12:53.100 --> 00:12:55.740 figure, like a movie star. And that brings us 00:12:55.740 --> 00:12:58.919 back to the cultural clout of this brand. You 00:12:58.919 --> 00:13:00.940 don't get a prime minister to agree to that unless 00:13:00.940 --> 00:13:05.220 you are an institution. It shows that Hola. had 00:13:05.220 --> 00:13:08.220 evolved from that little family project into 00:13:08.220 --> 00:13:10.519 something that held genuine power over the public 00:13:10.519 --> 00:13:12.820 imagination. It's incredible. We started this 00:13:12.820 --> 00:13:14.919 deep dive thinking about a distraction in the 00:13:14.919 --> 00:13:17.059 checkout aisle, and we've ended up talking about 00:13:17.059 --> 00:13:20.200 political strategy and global empires. So when 00:13:20.200 --> 00:13:22.720 we zoom out, what's the big takeaway? I think 00:13:22.720 --> 00:13:24.899 the lesson is about the power of niche and adaptation. 00:13:25.759 --> 00:13:28.820 Antonio Sanchez Gomez saw a specific human need, 00:13:28.960 --> 00:13:31.419 the need for glamour, for family connection, 00:13:31.639 --> 00:13:34.679 for a window into the lives of the elite. And 00:13:34.679 --> 00:13:36.980 he built a product just for that. And he kept 00:13:36.980 --> 00:13:39.840 it in the family. He kept the quality high. He 00:13:39.840 --> 00:13:42.340 kept the control tight. I mean, having his wife 00:13:42.340 --> 00:13:44.980 do the layouts. And then he was smart enough 00:13:44.980 --> 00:13:47.320 to adapt it. When the world wanted Hollywood 00:13:47.320 --> 00:13:50.259 instead of royalty, he gave them Hollywood. Exactly. 00:13:50.659 --> 00:13:53.440 When the digital age came, they kept expanding. 00:13:54.110 --> 00:13:56.610 It's a survival story. It's about knowing your 00:13:56.610 --> 00:13:59.009 audience better than they know themselves. It 00:13:59.009 --> 00:14:01.730 is. And it challenges us to take these light 00:14:01.730 --> 00:14:04.570 entertainments a bit more seriously. When a magazine 00:14:04.570 --> 00:14:06.889 can shape a prime minister's image and reach 00:14:06.889 --> 00:14:09.730 millions of people in 15 countries, it's not 00:14:09.730 --> 00:14:13.039 just fluff. It's a force. So the next time you 00:14:13.039 --> 00:14:14.860 are standing in that line buying your milk and 00:14:14.860 --> 00:14:17.639 eggs and you see that glossy cover of hello or 00:14:17.639 --> 00:14:20.360 hola, don't just look at the pictures. Look behind 00:14:20.360 --> 00:14:22.879 them. Remember the history. Remember that family 00:14:22.879 --> 00:14:25.600 in Barcelona in 1944. And remember that you are 00:14:25.600 --> 00:14:27.460 looking at one of the most successful pivots 00:14:27.460 --> 00:14:29.440 in media history. And here's a final thought 00:14:29.440 --> 00:14:31.679 to leave you with. We like to think we know the 00:14:31.679 --> 00:14:34.679 difference between news and entertainment. But 00:14:34.679 --> 00:14:37.220 when a prime minister gives his debut interview 00:14:37.220 --> 00:14:39.840 to a magazine founded on self -help and royalty, 00:14:40.139 --> 00:14:42.419 are those lines actually as clear as we think? 00:14:42.799 --> 00:14:45.879 Does the magazine become news or does politics 00:14:45.879 --> 00:14:48.440 become entertainment? Something to mull over 00:14:48.440 --> 00:14:50.340 on your next grocery run. Thanks for deep diving 00:14:50.340 --> 00:14:51.779 with us today. We'll catch you on the next one.