Sara Wilde Mc Keown Publishing industry report How-Do Vision+Media NW Creative Industries AGM


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Sara Wilde-McKeown, Regional Managing Director, Trinity Mirror North West & Wales, delivers her publishing industry report

Sara is Regional Managing Director of Trinity Mirror North West & North Wales. The eighty plus North West titles in her portfolio reach 1.8m adults – circa 74% of the region’s adult population and in this capacity. She is also responsible for daily papers in Yorkshire and South Wales and the company’s fast-growing Sport Media division also reports to Sara.

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Sara Wilde Mc Keown Publishing industry report How-Do Vision+Media NW Creative Industries AGM

  1. 1. Publishing Landscape 2010 Sara Wilde Regional Managing Director Trinity Mirror North West & Wales
  2. 2. Share, but please attribute <ul><li>Sara Wilde </li></ul><ul><li>Regional Managing Director Trinity Mirror North West & Wales </li></ul><ul><li> </li></ul><ul><ul><li>1 st presented 25 March 2010 at the 1st How-Do/Vision+Media Northwest England’s Creative Industries AGM </li></ul></ul><ul><li> / </li></ul>
  3. 3. Set up <ul><li>What we know </li></ul><ul><li>What we don’t know </li></ul><ul><li>Opportunities ahead </li></ul>
  4. 4. What we know – The How Do and Business Link insight <ul><li>Publishing in UK is worth £97 billion </li></ul><ul><li>Performance in the North West </li></ul><ul><ul><li>10% of this - £9.5 billion </li></ul></ul><ul><ul><li>generated by 8.4% of the UK’s firms </li></ul></ul><ul><li>Of the 463 publishing firms in the North West over half (57%) employ less than 5 staff. </li></ul><ul><li>In line with the UK profile over half also have a turnover of less than £400k </li></ul><ul><li>Yet region is impressively home to 12% of UK’s £40M+ publishing business </li></ul><ul><li>Trinity Mirror being the biggest regional publisher in the North West and UK </li></ul>
  5. 5. What has happened to the sector recently? <ul><li>Advertising revenues across nearly all media hit by structural shifts in spend and cyclical downturn </li></ul><ul><li>Regional print advertising been heavily affected by cyclical drops particularly in jobs, homes and cars </li></ul><ul><li>Significant re-structuring of portfolios and operating models </li></ul><ul><li>Radical review of where the money and the consumer is going </li></ul>
  6. 6. Steepest downturn in advertising expenditure in recent memory
  7. 7. With the majority of media affected by the economic downturn Total advertising market at -16.6% Source: PricewaterhouseCoopers / Internet Advertising Bureau, The Advertising Association / WARC: WARC estimate for directories. Advertising revenues by media % y/y, H1 2009
  8. 8. Digital not immune from the effects of the recession -5.2% -3.6% +11.8% Source: PricewaterhouseCoopers / Internet Advertising Bureau / WARC Digital revenues by type £m, H12007-2009
  9. 9. So where are we now? <ul><li>Economic outlook for 2010/ 2011 is cautious but stable </li></ul><ul><li>Multi-platform and multi-media remains the journey we are on </li></ul><ul><li>Still massive challenges around forward revenue and business models </li></ul><ul><li>Despite this our business remains healthy and appetite for forward growth still present </li></ul>
  10. 10. What else do we know? <ul><li>Overall audiences have not declined as fast as revenue </li></ul><ul><li>40 million people in the UK read a local paper every week </li></ul><ul><li>37 million people in the UK use a local website every month </li></ul><ul><li>TMNW&W portfolio reaches 1.8m people and penetration is up to 70% </li></ul><ul><li>Our overall portfolio reaches more people than ever </li></ul><ul><li>So while consumer habits and preferences are changing our reach and relevance can remain strong </li></ul>
  11. 11. What is key to us now? <ul><li>Transform - our business in line with advertiser and consumer expectations </li></ul><ul><li>Develop – our great brands Liverpool Echo, MEN, Daily Post </li></ul><ul><li>Innovate – to create new models and brands where opportunities exist </li></ul><ul><li>Engage – to retain maximum level of readers and users with targeted content </li></ul><ul><li>Get smart - more targeted advertising, priced in line with value and response </li></ul><ul><li>Get close - knowledge and insight will help widen what we offer consumers </li></ul><ul><li>Get a move on – disintermediation, fragmentation both opportunity and challenge </li></ul>
  12. 12. Trinity Mirror North West & Wales approach <ul><li>Transformation of business fit for multi-platform delivery </li></ul><ul><li>Consolidate to achieve economies of scale </li></ul><ul><li>Re-vitalise iconic brands and grow core propositions on and offline </li></ul><ul><li>Build and engage with audiences across all platforms </li></ul><ul><li>Diversify – grow or acquire revenues in new services or related areas </li></ul>
  13. 13. Organic Diversification- Sport Media <ul><li>Organic growth of new revenues – turning over £3.5m per annum </li></ul><ul><li>Providing high quality services – programmes and magazines </li></ul><ul><li>Liverpool Football Club – new contract to 2013 </li></ul><ul><li>New book contract with Chelsea FC </li></ul><ul><li>Expanding the sport franchise and skills into new markets </li></ul>
  14. 14. Diversification – new products <ul><li>Bookazines with the Daily Mirror. Over 200,000 sold in 2009. More in 2010. </li></ul><ul><li>From Michael Jackson to Georgie Best and steamy soaps </li></ul><ul><li>Biographies, heritage and fashion </li></ul>
  15. 15. <ul><li>TM has built national positions in jobs and property online markets </li></ul><ul><li>TMNW acquired Rippleffect a web development and e-marketing business </li></ul><ul><li>Rippleffect brings a new customer base, digital expertise and sport affinity </li></ul>Diversification - acquisitions
  16. 16. Further diversification <ul><li>New products, new payment models </li></ul><ul><li>new mobile models for content, (particularly for tablets) may help enrich our products and drive engagement </li></ul><ul><li>possibility of driving loyalty and premium subscriptions </li></ul><ul><li>publishers will be able to charge for unique, high value content but this isn't a primary focus for our regional sites </li></ul><ul><li>mobile revenue opportunities will emerge and mature </li></ul><ul><li>No single elixir </li></ul><ul><li>we are intent on transformation but do not envisage closing printing presses on the back of e-books or mobile subscriptions </li></ul><ul><li>Supporting an ever greater range of experiences (feature phone, smartphone, tablet, desktop) will be challenging but important to do </li></ul><ul><li>is clear that we must embrace long tail of new generation revenues in order to meet market needs </li></ul><ul><li>partnerships will be important to our future </li></ul>
  17. 17. Footnotes <ul><li>Facebook traffic overtook Google last week in United States </li></ul><ul><li>People will always want to know things and to learn and curiosity never dies </li></ul><ul><li>Great content will always find an audience </li></ul><ul><li>People will pay for really good stuff </li></ul><ul><li>Businesses still need to “communicate ” with consumers no matter how fragmented the market </li></ul><ul><li>Reach and relevance remain key and give us a strong platform for the future </li></ul>
  18. 18. Share, but please attribute <ul><li>Sara Wilde </li></ul><ul><li>Regional Managing Director Trinity Mirror North West & Wales </li></ul><ul><li> </li></ul><ul><ul><li>1 st presented 25 March 2010 at the 1st How-Do/Vision+Media Northwest England’s Creative Industries AGM </li></ul></ul><ul><li> / </li></ul>