Oath, Verizon’s newly managed AOl-Yahoo organization, announced its planes to expand worldwide. Speaking at a advertising festival in Cannes, CEO Tim Armstrong, said the company is planning to launch more brands in more countries beyond its current portfolio of more than 50 media and tech brands.
“From a commitment standpoint, we’ve laid out a road map through 2020 to try to get to 2 billion consumers,” he said, targeting between $10 billion and $20 billion in annual revenue.
Despite speaking openly about competing with Facebook and Google, Armstrong made it clear that Oath doesn’t intend to go head to head with with the two companies. “Our goal is not to directly compete with Google and Facebook. Our goal is to basically open up new relationships with consumers in a differentiated way,” he explained.
Today Oath conducts business in 40 countries and plans to expand further, according to Armstrong, who mentioned that the company was roughly the same size as Netflix. “The U.S. is 4% of the population of the world,” he said. “As we like to say internally, we are not a 4% company.”
Additionally, Armstrong believes that there is an opportunity to grow Oath’s live programming slate, and expects to bring linear content to TV in new ways.
With the establishment of Oath, Armstrong has added two new dedicated divisions, one for security and one focusing on gender and racial diversity. “The goal is to have our employee base look like our consumer base,” he explained.