Condé Nast has turned the page on its experiential marketing strategy.

The producer of the New Yorker Festival, Glamour Women of the Year Awards and other proprietary events is placing more focus on leveraging new and existing events to diversify its revenue base and maintain brand relevance.

The strategy represents a shift in how the magazine publisher uses event marketing. Until recently, the company primarily used events as a brand exercise, leaving its event portfolio underleveraged and under-monetized.

“Condé Nast, like all media companies, has to think about diversifying revenue and keeping our brands relevant. What we’re doing in the experiential space checks both of those boxes,” said Josh Stinchcomb, Condé Nast chief experience officer.

Condé Nast now looks to leverage events across multiple objectives including ticket sales, sponsorship revenue, partnership activation and content development.

The experiential marketing push follows Condé Nast’s 2017 acquisition of Pop2Life (experiential marketing) and Ribyt (event hospitality and ticketing). The company also has hired event programming and ticket specialists to round out its experiential services offering.

While Condé Nast offers creative services under its 23 Stories division—a name that refers to the content specialists who occupy the company’s 23 floors in the 1 World Trade Center—the acquisitions and new hires take its experiential marketing practice to the next level.

The Pop2Life acquisition, for example, gives Condé Nast 360-degree expertise in experiential services including guest management, concierge services and program  fabrication, as well as new clients.

“We picked up their existing relationships with clients, which we have grown, and have introduced Pop2Life services to Condé Nast partners.”

And the company has wasted no time expanding its event portfolio. Condé Nast in December launched the Teen Vogue Summit, a two-day gathering in Los Angeles that connected young activists, creators and innovators around their shared passions.

Condé Nast will host two Teen Vogue Summits in 2018, one in Los Angeles and the other in New York City.

The magazine giant also is reimaging existing tentpole events. Condé Nast’s experiential marketing staff is working with Samantha Berry, Glamour’s new editor in chief, to add new programming and revenue opportunities to the Glamour Women of the Year Awards.

“The goal is to make our events not just great branding, but meaningful and profitable businesses.”

In addition to upselling existing advertisers on event sponsorship, Condé Nast is using its growing event portfolio to secure partners that have never advertised in its pages.

And the strategy is paying off, including partnerships with two companies whose sponsorships may seem somewhat counterintuitive: Caterpillar and the Glamour Women of the Year Awards and AARP and the Teen Vogue Summit.

Caterpillar used the Women of the Year Awards to support a female-focused corporate marketing initiative, while AARP used the Teen Vogue Summit to support #DisruptAging, a campaign that seeks to start a conversation about how people want to live and age.

AARP leveraged the teen confab with a cross-generational conversation between a Baby Boomer and Gen-Zer.

“It was a way to bring in a new advertising partner and access money we never would have seen,” said Stinchcomb.

Condé Nast also uses events to enhance relations with existing advertisers. Hyundai, for example, sponsored this month’s Vanity Fair Oscar Party on behalf of its Hyundai Genesis luxury vehicle.

While Condé Nast represents a competitor to other festivals and events in terms of ticket and sponsorship sales, the company is open to collaborations with other event producers.

Those collaborations can range from creating an event-within-an-event to helping rightsholders enhance their consumer engagement initiatives.

“Scale is always a challenge in the experiential space. There may be ways to piggyback other events and create new opportunities, and we’re totally open to that.”

Other Condé Nast events include the Architectural Digest Design Show, the Pitchfork Music Festival and Vanity Fair’s New Establishment Summit.