"We are expanding our core for the next era of growth," David Rawlinson, president and CEO of Qurate Retail, stated. "Live social shopping is a natural evolution for us. We have always been live on television, and our programming has always had this deep human and social component. Our customers are spending dramatically more time on social media, and that is increasingly where they are finding inspiration and shopping."
Qurate Retail Group aims to reach $1.5 billion or more in revenue from streaming and social within the next three years, focusing on QVC+ and HSN+ streaming platforms.
The company is set to rename itself the 'QVC Group' by Q1 2025 as part of its strategic pivot towards creating a leading live social shopping content engine.
The new three-pronged approach includes expanding content distribution to where shoppers spend time, improving technology for new audiences, and refreshing production studios to enhance content quality.
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