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Penske Media Appoints Rachel Terrace to Key Role

Penske Media Corporation has appointed Rachel Terrace as its new SVP of Licensing and Brand Development. In Terrace’s new role she will lead licensing and brand extension activity in the US across Penske Media’s portfolio of brands. Effective immediately, she reports to Craig Perreault, Chief Digital Officer for the company, and is based in New York.

“Rachel’s experience in branded consumer products and licensing will further enhance PMC’S ability to grow its revenue across the portfolio. We are thrilled to have her on board,” said Perreault.

PMC is a global media company responsible for several major media brands that are considered household names, and is considered by many to be the leading voice in the coverage of the entertainment industry in particular. Penske Media properties currently enjoy a monthly audience of 310 million people, for brands including Deadline, Variety, Rolling Stone, Billboard, The Hollywood Reporter, VIBE, WWD, SHE Media, Robb Report, Sportico, BGR, ARTnews, Art in America, Fairchild Media, and Spy.com, among many others.

Terrace is a seasoned executive with a 20-year track record of driving brand identity and revenue growth. Prior to joining PMC, Terrace was the founding Chief Marketing Officer of TIME’S UP, a non-profit organization advocating for gender equity at work. There she led partnerships, merchandise creation and brand activities for the organization. Previously, Terrace was the Senior Vice President of Brand Management at Beanstalk, an Omnicom brand extension and licensing agency, where she oversaw the strategic development and implementation of brand extension programs across multiple categories of business.

Over her more than 12 years with the agency, her award-winning work for premier and diverse brands, drove hundreds of millions of dollars in sales. Terrace began her career working in various marketing roles at American Express, Unilever, and Jupiter Research. Terrace holds a BA in Political Science from Brown University and an MBA in Marketing and Management from Columbia Business School.

“Penske Media’s portfolio of iconic brands drives incredible loyalty and engagement with its audiences,” said Terrace. “I’m thrilled to have the opportunity to leverage the DNA of these brands and to extend them into new products and services that will drive new consumer touchpoints, experiences and meaningful new revenue streams for PMC.”

 

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