MGill Backgrounder

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    10-Aug-2015
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Transcript of MGill Backgrounder

  1. 1. Financial Review Group Adaptability and customer focus
  2. 2. Face To Face FBM Conferences FBM Events AFR Education MIS Round Tables BOSS Clubs & Hear it From Financial Review Group Data & Research Bespoke category research Bespoke Client research Database sampling Campaign pre & post analysis Print Financial Review Life & Leisure L&L: Sophisticated Traveller L&L: Luxury Magazine AFR BOSS Magazine Financial Review Magazine AFR: Smart Investor Magazine AFR: CFO Magazine AFR: MIS Magazine AFR: Asset Magazine BRW Magazine Online afr.com brw.com.au afrboss.com.au afrmagazine.com afrsmartinvestor.com.au misaustralia.com assetmag.com.au cfoweb.com.au AFR Market Wrap http:// marketwrap.afr.com AFR TV http://tv.afr.com/
  3. 3. Daily newspapers Weekly magazines USA UK Australia Reach to senior executives Asia 50.7% 28.3% 16.8% 36.1% 41.6% AFR The Australian WSJ Asia FT WSJ 25.2% 22.5% 21.1% 17.8% BRW Time The Economist Newsweek Historic high since study started in 2006 (up from 45% last year) Source: Australian Business Readership Study 2009, IPSOS; international IPSOS studies
  4. 4. Which path? 2 models for audience value Audience volume model u Audience volume created by link economy that generates influence u Revenue defined by reach u Low level of segmentation u Profits are secondary Audience revenue model u Audience revenue created by loyal interaction with a tightly defined brand or community u Revenue defined by demographic quality and penetration u High level of segmentation u Profits are primary Content > platforms > audiences
  5. 5. Operating profit FRG against global benchmarks FT domestic fully paid circulation of 55,774 copies down from 89,000 in 2005 AFR circulation currently at 77,046 down from 85,800 in 2005 Source: Pearson annual reports, Audit Bureau of Circulations (UK), Dow Jones annual reports, management accounts Note: data for Dow Jones no longer available once acquire by News Corp in 2007 -100 -50 - 50 100 150 200 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Indexedoperatingprofit FT Group FRG Dow Jones
  6. 6. 4 Customers now consume our media in many ways UTILITY Be informed Stay up-to-date Self-development Get an edge QUALITIES FROM SOURCE Objective Accurate Timely Reliable in coverage Easy to consume What the audience want: FRG PRODUCTS AND SERVICES News Analysis Information and data Analytical tools Ability to research Alerts Educational courses Conferences, events and other networking opportunities What we provide: How customers want to consume: MEDIA, DEVICES, CONSUMPTION Newspaper Magazine PC Laptop Mobile Smartphone E-tablets Video on demand and streamed IPTV Face to face
  7. 7. Stand alone brands Print based Daily, Weekly, Monthly One Masterbrand Multiplatform As you need it Most trusted titles Most trusted relationship
  8. 8. Our publishing process was complex and inefficient Write stories remove (Word/email) Layout Ads (Edition Builder) Story Planning (manual) List Management (email/cyber) Print Write stories Onsite (Cyber/Word) Publish to PDF (Architex) Place stories/sub Edit/check (Cyber) Layout Pages (Cyber) Edit stories (Cyber) Commission graphics (manual) Archive Create graphics (Adobe/fotoflow/ FDC etc) Commission photos (manual/email) Create photos (photoshop) Newspaper and other Fairfax content (FDC) Contribuor copy (Word/email) Reuters wires AAP wires (Cyber) Graphics (Adobe/Cyber) Story Planning (manual) Write Stories (Word) Publish website Upload stories (manual) Create HTML (afr.com) Manage Content (CMS) Edit Stories (Word/CMS) Commission Graphics (manual) Create graphics (Adobe/fotoflow FDC/ etc) Commission Photos (manual/email) Create photos (photoshop) Commission puffs (manual/email) Create puffs (photoshop/ open ads)
  9. 9. New processes create a single workflow for all product Story planning (Methode) News Lists management Write stories onsite Edit stories Commission graphics Create graphics (Adobe) Layout grid Fit,proof,correct Pre press PUBLISH PRINT PUBLISH WEB PUBLISH MOBILE PUBLISH SYNDICATION Write stories remote Commission graphics Create photos (photoshop) Commission graphs Create graphs (Illustrator) Edit stories- remote (Methode) (Methode) (Methode) (Methode) (Methode) (Methode) (Methode) (Methode) (Methode) (Methode)
  10. 10. Mthode Breaks the silos down and makes editorial investmen the centre of a flexible hub for product creation and growth Before.and after Methode Reporters work across print and on- line. Some subs shared with newspaper Dedicated production Reporters work across the magazine and on-line Dedicated subs and production AFR newspaper afr.com Business Review weekly brw.com FBM finance magazines New Zealand magazines / sites Asian magazines / sites Product System Cyber FAST / in house In Design In house In Design Lotus Notes Squiz People / structure / process Reporters work across print and on- line. Dedicated subs and production Reporters work across the newspaper and afr.com Dedicated subs and production Reporters work across print and on- line. Some subs shared with newspaper Dedicated production Reporters work across the magazine and brw.com Dedicated subs and production Reporters work across the magazines and on-line Dedicated subs and production Newspapers Magazines Mobile Web sites devices Blackberry iPhone Syndication The next thing Product development Distri- bution Editing Production Packaging Publishing Content creation - Documents - Images - Audio - Video, TV A single media neutral newsroom with one way of working Content created once and published dynamically to any media
  11. 11. Teams are aligned to topics AFR Topic Editor (or BRW Editor) Channel Producer(s) Reporters Editorial Leadership Head of Production Reporters and Channel Producers report to Topic Editors for all AFR products BRW is the exception its own pool of Reporters is managed by BRW Editors AFR Magazine Editors are aligned to and report to the appropriate AFR Topic Editor Channel Producers interact and coordinate with production and draw on the shared Production Desk for required resources In some cases the Topic Editor and Channel Producer roles may be performed by the same person Topics and Channels do not operate as silos Interaction and Integration of both ideas and resources is driven through the matrix operating structure e.g. the Companies Channel Producer will work with other Topic Editors as appropriate to fill the print/online sections Editors, Reporters and Channel Producers are all multi-platform as a principle A part-time Online/Digital Editor exists within the FBM Editorial Leadership team (for 6-12 month transition period only) The end goal is platform-neutrality (i.e. no platform specific roles such as an Online/ Digital Editor) AFR Magazine Editor Incl. Online/ Digital Editor Standard editorial roles for each Topic/Magazine Topic-dependent, according to alignment of magazines with topics Shared Production Desk Subs Desk Graphics & Design Photos & Video Key Magazines Print Edition Production
  12. 12. Companies Markets Tax Resources IT AFR.com Companies section AFR print Companies section BRW.com BRW magazine Design & Layout Copy Subbing Data & Graphics Photographic & Video Channels Titles/Sections & Platforms Topics Single Production Desk MISAustralia.com MIS magazine AFR.com Information section AFR print Information section etc... etc... Channel Producer Channel Producer Channel Producer Channel Producer Channel Producer Topic Editors BRW Editors MIS Editors AFRSeniorEditors AFRProductFamilyBRW
  13. 13. one way of working Process Design Principles Rationale Operating Efficiency Product Quality Product Uniquenes s Structure workflows to drive multi-platform behaviour and maximise multi-platform efficiency Maximise workflow consistency across titles, platforms and different content types... ...also recognising the need for some workflow variations (e.g. to maintain product uniqueness) Design processes with end-to-end visibility and checkpoints/metrics for transparency and measurement Focus all workflows and activities on delivering to editorial deadlines Manage quality rigorously by reviewing all content, with clear minimum requirements before publishing... ...but provide flexibility to handle time-sensitive breaking news (e.g. online content can be edited after publishing) Define roles and responsibilities clearly, including predecessor/successor dependencies for each process step Minimise hand-offs and maximise opportunities for multi-skilling Avoid bottlenecks to ensure there is no single point of failure Build on existing processes and what works well... ...but avoid being tied to the current way of doing things Maximise the potential of the Methode platform wherever possible Streamline/automate tasks wherever possible Maximise use of the archive, including contribution of content with appropriate metadata
  14. 14. 10 15 20 25 30 35 40 45 50 55 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 Budget $m Actual EBA FRG editorial costs (Aust) compared to indexed EBA Life and Leisure lift out AFR editorial responsibility for Smart Investor and 3 smaller mags Sophisticated Traveller, Education Merged editorial responsibility for BRW, afr.com - Marketwrap More afr.com content incl video afr.com Dealbook, Resources Daily
  15. 15. Editorial investment monetised in subscription growth PAID SUBSCRIPTIONS, FINANCIAL REVIEW ONLINE 3000 3500 4000 4500 5000 5500 6000 6500 7000 4/09/2009 4/10/2009 4/11/2009 4/12/2009 4/01/2010 4/02/2010 4/03/2010 4/04/2010 4/05/2010 4/06/2010 4/07/2010 4/08/2010 4/09/2010 4/10/2010 4/11/2010 4/12/2010 4/01/2011 4/02/2011 Dealbook Resources Daily DIY Super Street Talk Blog Technology