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The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
The Death of Newspapers? Finding business models in a perfect storm.
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The Death of Newspapers? Finding business models in a perfect storm.

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A presentation given to delegates on the Hyper Island Accidental Leaders Masterclass

A presentation given to delegates on the Hyper Island Accidental Leaders Masterclass

Published in: Business, Technology
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  • Very interesting in light of the proclaimed death of one of the pillar industries of democracy.
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  • 1. The Death of Newspapers? Finding business models in a perfect storm
  • 2. Who am I?
  • 3. Long, slow death? UK National Newspaper Monthly Circulation 2001 - 2008 4,000,000 3,500,000 The Sun 3,000,000 The Mirror Daily Star 2,500,000 No. copies sold Daily Record Daily Mail 2,000,000 The Express Daily Telegraph 1,500,000 The Times FT 1,000,000 The Guardian The Independent 500,000 0 2001 2002 2003 2004 2005 2006 2007 2008 Year Source: Audit Bureau of Circulations
  • 4. Why? • Cyclical • Structural
  • 5. Cyclical Recession hits early and hard: • More media firms have issued profit warnings in the last six months than since the 2001 dot com crash. (Ernst & Young) • Over the 19 weeks to 9 May 2009, Johnston Press saw total advertising revenues down 34.4% year on year. • In May, Trinity Mirror said that group advertising revenue declined by 30% year on year
  • 6. Structural Demand is declining: • Disruptive free-sheet business models. • Lifestyle changes. • New platforms diluting market share. Newspaper organisations evolved to deliver on news print.
  • 7. Industry response? • Offline model moved online. • Product-focused, not demand-focused. • Little innovation. • Slow to react to change. • Online competition ignored. • Stalled with protectionist arguments.
  • 8. The result? • Flooded market • Web advertising devalued (About one-tenth of print advertising) • Traditional print revenues disrupted (Classifieds, business directories, dating, coupons) • Control of product distribution lost
  • 9. Users (‘000s) Unique 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 Oct-03 Dec-03 Feb-04 Apr-04 Jun-04 Aug-04 Oct-04 Dec-04 Feb-05 Apr-05 Jun-05 Aug-05 Oct-05 Dec-05 Feb-06 Apr-06 Jun-06 Aug-06 Oct-06 Dec-06 The Stat Race Feb-07 Apr-07 Jun-07 Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 Aug-08 Oct-08 Dec-08 Feb-09 Apr-09 Telegraph MailOnline Times Online Guardian.co.uk Source: Audit Bureau of Circulations
  • 10. The Stat Race: results
  • 11. It can not continue “The current days of the internet will soon be over."
  • 12. But some got it right
  • 13. But some got it right
  • 14. Schibsted: Aftonbladet Profit (EBITA) 300 250 200 SEK (million) Online EBITA 150 Print EBITA 100 50 - 2005 2006 2007 2008 Year
  • 15. Dating Dieting & Fitness Used Cars Club Yellow & White Classifieds Directory Telephone Directory = 60+%
  • 16. Wall Street Journal Ten-year-old subscription service • Reputation for business news • Responsive pay wall
  • 17. Where did it go wrong? Trough of disillusionment
  • 18. Group Exercise • Where did the industry go wrong? • How can you use these lessons to avoid similar mistakes? – What cyclical and structural issues do you face? – Is there a strategy that could help you emerge from a cyclical downturn in a stronger position? – How might you lead that process?
  • 19. Industry responses – Metre-payment system – The Exclusive “Club”
  • 20. Industry responses – Daily Charges – Considering paid access to specialist content
  • 21. Industry responses – Tip jar – E-Readers
  • 22. References http://delicious.com/joannageary/hyperisland
  • 23. Thank You! joanna.geary@thetimes.co.uk linkedin.com/in/joannageary twitter.com/joannageary joannageary.com

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