mgill backgrounder
TRANSCRIPT
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/
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
Which path?
2 models for audience valueAudience 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
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 2010Inde
xed
oper
atin
g pr
ofit
FT Group
FRG
Dow Jones
4
Customers now consume our “media” in many ways
UTILITY
Be informedStay up-to-date
Self-developmentGet “an edge”
QUALITIES FROM SOURCE
ObjectiveAccurateTimely
Reliable in coverageEasy to consume
What the audience want:
FRG PRODUCTS AND SERVICES
NewsAnalysis
Information and dataAnalytical tools
Ability to researchAlerts
Educational coursesConferences, events and
other networking opportunities
What we provide: How customers want to consume:
MEDIA, DEVICES, CONSUMPTION
NewspaperMagazine
PCLaptopMobile
SmartphoneE-tablets
Video on demand and streamed
IPTVFace to face
Stand alone brands
Print based
Daily, Weekly, Monthly
One Masterbrand
Multiplatform
As you need it
Most trusted titles Most trusted relationship
Our publishing process was complex and inefficient
Write stories – remove (Word/email)
Layout Ads (Edition Builder)
Story Planning (manual)
List Management (email/cyber)
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)
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)
5
Méthode Breaks the silos down and makes editorial investment 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-lineDedicated 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.comDedicated subs and production
Reporters work across print and on-line. Some subs shared with newspaper Dedicated production
Reporters work across the magazine and brw.comDedicated subs and production
Reporters work across the magazines and on-lineDedicated subs and production
NewspapersMagazines
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 workingContent created once and published dynamically to any media
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
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
BR
W
Edito
rs M
IS
Edito
rs A
FR S
enio
r Edi
tors
AFR
Pro
duct
Fam
ily
BR
W
‘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 ü ü
Maximise workflow consistency across titles, platforms and different content types... ü ü
...also recognising the need for some workflow variations (e.g. to maintain product uniqueness) ü ü
Design processes with end-to-end visibility and checkpoints/metrics for transparency and measurement ü ü
Focus all workflows and activities on delivering to editorial deadlines ü ü
Manage quality rigorously by reviewing all content, with clear minimum requirements before publishing... ü
...but provide flexibility to handle time-sensitive breaking news (e.g. online content can be edited after publishing) ü ü ü
Define roles and responsibilities clearly, including predecessor/successor dependencies for each process step ü ü
Minimise hand-offs and maximise opportunities for multi-skilling ü
Avoid bottlenecks to ensure there is no ‘single point of failure’ ü
Build on existing processes and what works well... ü ü ü
...but avoid being tied to the current way of doing things ü ü ü
Maximise the potential of the Methode platform wherever possible ü ü
Streamline/automate tasks wherever possible ü ü
Maximise use of the archive, including contribution of content with appropriate metadata ü ü
10
15
20
25
30
35
40
45
50
55
FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11Budget
$m
ActualEBA
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
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