Disintermediation of gatekeepers e.g. sell-side, media
IR departments hamstrung by fear, lack of know-how, resources
Smaller companies faster to adopt, see profile opportunities
Are investors using social web? Social web is a giant (noisy) expert network, won’t be ignored New monitoring tools e.g. FirstRain, SkyGrid, First Coverage Financial blog aggregator Seeking Alpha hits 3 million users, many pros 47% institutional investors probed stock after a blog post, 20% invested.* Mostly a source of ideas, not definitive sources * Source: Brunswick Group New Media Survey, Sept. 2009
Hmm… then there’s this 55% of CFA Institute members globally never heard of it* Only 16% using XBRL viewers in Nov. ‘09 Just 9% extracting data into models Little change from 2007 Tools, comparability must get better * Source: CFA Institute Member XBRL Survey, November 2009
What’s new on IR websites? This screen left intentionally blank (only half kidding, see the next slide)
Global expansion of Thomson Reuters' “magic pill” Changes mostly cosmetic, little real innovation Low traffic relative to other channels Must reinvent or risk becoming irrelevant Own the channel, never cede it to vendors What’s new on IR websites?