What We’re Listening to: How Comcast Chose ‘Versant’
Venu Sports, Fox One, ESPN and now Versant. The past few years have been defined by the industry’s efforts to respond accordingly to shifting consumer dynamics. It’s been far from a straightforward path, but that hasn’t stopped folks from trying—and sometimes failing—to create something new that changes the trajectory of media companies and sets a precedent for others to follow. However, it all starts with one thing: a name.
It’s a difficult task to pinpoint a moniker that resonates with all stakeholders. That could be why Fox and ESPN went with familiar names for their imminent direct-to-consumer products. For Comcast, it originally labeled its plan to spin off most of its linear TV assets into a new public company as “SpinCo.” That changed earlier this month when Mark Lazarus, CEO of the new venture, issued a memo unveiling the company’s formal name.
“VERSANT represents more than a name—it speaks to our adaptability and embraces the opportunity to shape a new, modern media company,” the memo read.
Lazarus admitted he knows not everyone will be head over heels about the name, but it might help to know more about the selection process that led to Versant. The company published an audio recording featuring two of its brand marketers, Mike DeRienzo and Lisa Fleming, pulling the curtain back on the months-long operation that began during the holidays in December. As the initial names were being tossed around, Versant’s legal team was brought in to evaluate. Unsurprisingly, that’s when the roadblocks started to show.
“They sent a few through preliminary knockout, and those results came back and we realized just how challenging this was really going to be,” DeRienzo, NBCU’s VP, Creative Marketing, said.
They pivoted to assembling a team of representatives from all the brands under the new organization, such as MSNBC, Golf Channel, Fandango, Rotten Tomatoes and others. Three branding agencies were brought on board to assist with the process, and a brand framework and themes for the new company were formed to give guidance on where to direct one’s creativity.
“Thousands” of names were considered, but only 43 passed the preliminary knockout stage. Twenty-five were given full domestic clearance before the group narrowed it down to 12 finalists to be presented to the company’s leadership team. Although Versant was the last name to be shown, it was one of three picked to undergo international clearance. The expectation was they’d be lucky to have one come back as viable, but miracles happen, and all three were given approval. “That just meant we still didn’t have a decision and had some more work to do,” DeRienzo joked.
Each leg of the trio was given logo options and other brand assets. After months of deliberation, a clear winner rose to the top, and Versant finally received its crown.
“In our research, we found that one literal definition of Versant is ‘the slope of a mountain.’ So, in our case, what that says to me is that we’re taking on the industry headfirst, trying something new,” DeRienzo said.