Grapevine: Advocating for Change at The Wine Advocate
Deciphering the hodgepodge of wine ratings has perennially been fraught with skepticism over the independence of wine critics. Over the last 35 years, the one critic who has risen above these distractions to objectivity is Robert Parker. Publishing critiques through his newsletter The Wine Advocate, he has consistently voiced his opinions with an aura of impeccable objectivity, constantly reminding his followers–and detractors–of his fierce independence.
This lofty objectivity has garnered him a reputation beyond reproach. The mere mention of The Wine Advocate lends the utmost credibility to a wine critique–whether lauding the merits of, or casting aspersions upon, the quality of a particular wine, winemaker or winery.
But now change is in the wind and its effect is yet to be determined. As mentioned in this column last week, Parker has sold a significant interest in The Wine Advocate. There are two aspects of this sale that intrigue me: the timing and the business plans of the new investors.
Just as a fine French Bordeaux wine matures over time, increasing in complexity and finesse and reaching a peak of excellence before beginning a downward slope to the end of its life cycle, so too Parker’s business. Just as the monetary value of a fine French Bordeaux wine follows the same track as its life cycle, so too Parker’s business.
Parker’s decision to give up a significant level of ownership–and control–over his business comes at a time when the art of wine criticism is undergoing a sea change. As younger consumers become wine advocates themselves, they choose to base their evaluations and purchasing decisions on peer reviews rather than on the opinions of the old guard. Some believe that Parker’s decision to sell came on the downward slope of the bell curve of the value of his business. Why? His grip on young consumers was beginning to wane and Mother Nature was catching up with him at age 65. Did he see the handwriting on the wall, realizing that his business model was facing the growing challenge of social media influences?
On its surface, the sale of The Wine Advocate seems ideal: a sale price of $15 million, fresh blood taking over the business and Parker retaining responsibility for critiquing his favorite wine regions.
But what does the future hold for The Wine Advocate? Will its integrity and fierce independence be fostered by its new owners or is this simply another instance of a small businessman who decides to “take the money and run,” as he sails into the sunset, leaving behind a legacy subject to major change?
Based on reports in the press, the answer is clear: The Wine Advocate is about to undergo a complete makeover.
Under Parker, The Wine Advocate was a labor of love, run from his hometown in Maryland. The new majority owners are investors first and wine aficionados second. The lead investor is a Singapore-based entrepreneur, with partners from Deutsche Bank and Goldman Sachs. The new editor-in-chief will be domiciled at the new headquarters office in Singapore.
Under Parker, no advertising was accepted and fees were rarely, if ever, accepted for guest appearances. Under the new investors, advertising will be solicited and paid speaking engagements will be offered.
Under Parker, his staff of critics garnered a reputation as distinguished as Parker himself. Under the new investors, the top two critics have left, leaving a void to be filled. And one of those critics, Antonio Galloni, is being sued by the new regime for allegedly stealing reports and subscriber lists (not very Parker-like conduct to air dirty laundry in public).
Consistency and independence were hallmarks of the Parker years. In 2013, it seems these are about to undergo significant pressure. Will Parker’s legacy be perpetuated or will it be subjugated in the new era? Can a labor of love survive the bottom line focus of Wall Street investors? Does Robert Parker really care? And in the end, does any of it really matter in the grand pursuit of wine enjoyment?
Nick Antonaccio is a 35-year Pleasantville resident. For over 15 years he has conducted wine tastings and lectures. He also offers personalized wine tastings and wine travel services. Nick’s credo: continuous experimenting results in instinctive behavior. You can reach him at nantonaccio@theexaminernews.com or on Twitter @sharingwine.
