world newspaper congress 11: session finance, josé luis sainz
TRANSCRIPT
63rd WORLD NEWSPAPER CONGRESS
Session: FinanceTitle: PRISASpeaker: José Luis Sainz
Vienna, Reed Messe Wien
Mark your calendar
64th WORLD NEWSPAPER CONGRESS19th WORLD EDITORS FORUM
www.wan-ifra.org/kiev2012
FINANCE October, 14th 2011
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1-. CURRENT SITUATION
– CONVENTIONAL SHAREHOLDER MODEL– UNDERCAPITALIZED AND INDEBTED
COMPANIES– FAILURE IN DIVERSIFICATION AND DEFICIENT
BRAND EXPOSURE
– LOSS OF PROFITABILITY
– LOSS OF INDEPENDENCE
– UNCERTAINTY OF FUTURE BUSINESS MODEL
– THE DOUBLE CRISIS ACCELERATES THE CHANGE PROCESS
– DRAMATIC FALL OF INCOME: CIRCULATION, ADVERTISING AND ADD-ON PRODUCTS
– INSUFFICIENT FLEXIBILITY IN COST STRUCTURE:
• SUPPLIES, PRINTING AND DISTRIBUTION• STAFF AND COMMERCIAL TEAMS
– SLOW INTERNET DEVELOPMENT. LACK OF VISION
– NEW COMPETITORS
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– PRESS MEDIA AS A SOCIAL REFERENCE
– NEW BUSINESS MODEL
• CAPITAL RESTRUCTURING• ELIMINATE UNFEASIBLE AND NON-CORE BUSINESSES• RESIZE THE BUSINESS
– FOCUS ON CONTENTS AND BRAND
• CENTRALIZE SUPPORT ACTIVITIES, SPANNING THOSE OF OUR COMPETITORS• EXTERNALIZE PRINTING, DISTRIBUTION AND SERVICES ACTIVITIES
– STAFF DOWNSIZING AND RENEWAL OF PROFESSIONAL PROFILES
• INTEGRATE EDITORIAL STAFF AND PROCESS CHANGES• COMMERCIAL AND MARKETING GROUPS
– BOOST AUDIENCES AND BUILD UP LOYALTY
• GETTING TO KNOW OUR READERS/USERS AND CONVERTING THEM INTO CLIENTS• UPDATE MONETISATION SUPPORT
– TAKE ADVANTAGE OF STATE OF THE ART TECHNOLOGY
• CONCENTRATE CAPEX ON INTERNET/WEB• MULTI-DEVICE MODEL. TABLETS
– INTELLECTUAL PROPERTY PROTECTION
2-. WHAT CAN WE DO?
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– CHANGES SHAREHOLDERS STRUCTURE. STEADY MIDTERM FINANCIAL MODEL
– ESTABLISH FOUR BUSINESS DIVISIONS: PRESS, RADIO, TELEVISION AND EDUCATION
– “PRISA DIGITAL” AND ADVERTISING SALES ARE CROSS-SECTIONAL
– ALL BUSINESS DIVISIONS ARE PROFITABLE
– SET-UP OF “PRISA NOTICIAS”
3-. WHAT ARE WE DOING IN PRISA?
EL PAÍS
PRISA NOTICIAS
DIGITAL
MAGAZINESCINCO DÍASAS
COMMON SERVICES
DISTRIBUTION
SPORTS ECONOMIC
PAPER/ INTERNET
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– INTERNATIONAL DEVELOPMENT, BASED ON BRAND VALUE
• EL PAÍS, A GLOBAL REFERENCE (65.000 copies sold abroad, 33% foreign internet traffic)
• THE STRENGTH OF SPANISH AND PORTUGUESE• EVENTS AS A BUSINESS• OPERATIVE IN 22 COUNTRIES
– TALENT AND CONTENTS AS THE NUCLEUS OF THE BUSINESS
• INTEGRATION OF NEWSROOM• CHANGE OF COLLECTIVE AGREEMENTS
– DEVELOPMENT OF THE TECHNOLOGICAL PLATFORM, COMMON TO ALL DIVISIONS, FROM PUBLICATION TO CUSTOMER
– UPDATING OF EDITORIAL OFFER IN ALL MEDIA SUPPORT
– CHANGES IN COMMERCIAL AND MARKETING BUSINESS MODEL: THE ADVERTISER
– TEAM MOTIVATION EMPHASIZING THE CARROT RATHER THAN THE STICK…
4-. WHAT ARE WE DOING IN PRISA?