IAC (IAC) Goldman Sachs Communacopia + Technology Conference 2024 summary

Executive leadership and strategic priorities

• CFO joined in early 2022, bringing private equity and media experience, with a focus on capital allocation and strategic clarity post major business spins.

• Portfolio was streamlined, with underperforming businesses divested and focus placed on integrating Dotdash Meredith and turning around Angi.

• Emphasis on supporting business units with strategy, margin analysis, and capital deployment.

Portfolio business maturity and growth opportunities

• Dotdash Meredith is positioned for double-digit growth, outperforming industry peers and gaining share in the open web.

• Angi is in a growing market, with revenue declines due to proactive quality improvements and margin focus, setting up for future growth.

• Care and other disruptors like Turo and Vivian have significant digital conversion and expansion potential.

• MGM continues to benefit from Las Vegas expansion and digital opportunities.

Macro environment and consumer demand

• Higher-end consumers remain resilient, while lower-end consumers face financial strain, impacting demand in certain segments.

• Portfolio skews toward higher-end consumers, with limited exposure to low-end segments.