Yet from the fraying cable television bundle to evaporating print advertising, each of these legacy businesses faces challenges from digital media.
In his annual January letter to employees, Swartz touted higher profits across each major division, but acknowledged that the digital revolution “in many respects makes our job on the consumer side of our company harder.” His mission is to join that revolution without abandoning the core of the 128-year-old company. Magazines still make up the company’s second biggest revenue contributor, behind cable television.
In his first full fiscal year as CEO, the former newspaperman has invested more than US$200m in digital youth brands from AwesomenessTV (a network on YouTube) to edgy nonfiction purveyors Vice Media, on top of its existing holding in BuzzFeed and Roku, a video-streaming service.
A former editor for The Wall Street Journal and CEO of SmartMoney who joined Hearst in 2001, the 52-year-old Swartz also continued the company’s aggressive push into business media, its fastest-growing division, with a nearly $2bn deal to boost its stake in Fitch Ratings agency to 80 per cent from 30 per cent. He remains on the lookout for acquisitions in this realm.
He recently spoke with the Wall Street Journal about why Hearst is holding on to its print assets, and the opportunities for growth—particularly in business media—it sees on the horizon.
Hearst and Rodale Inc. announced that Hearst has agreed to acquire the magazine and book businesses of Rodale.19th Oct 2017 Industry News
Time Out Group announced that it has signed a lease agreement for a new Time Out Market in Boston, Massachusetts, with the benefit of planning for the site already secured.3rd Oct 2017 Industry News
TheExcursionist.com and The Excursionist magazine aim to help customers inspire their next holiday.2nd Oct 2017 Industry News
Samuel Irving “Si” Newhouse, Jr., joined Condé Nast in 1961 after it had been acquired by his father, Samuel I. Newhouse in 1959. He served as chairman of Condé Nast beginning in 1975.2nd Oct 2017 Industry News
Magazines are a shortcut to quality and continues to deliver top results for advertisers, according to Linda Thomas Brooks, CEO at MPA, USA, said during a keynote on the second day of the FIPP World Congress in London (11 October) last week.16th Oct 2017 Features
Digital editions have been around for a long time, going all the way back to the late 90's. But in 2010 when the iPad hit the digital runway, publishers jumped on the tablet bandwagon faster than they could shout, “Hallelujah!”. The struggling publishing industry had found itself a saviour.16th Oct 2017 Opinion
View and download the speaker presentations from the FIPP World Congress, 9-11 October 2017, London.19th Oct 2017 FIPP News
Without bringing newly skilled people into newsrooms, publishers will not succeed in the future. This was the stark warning delivered by Ralph Büchi, COO of the Ringier Group, CEO of Ringier Axel Springer Switzerland and newly elected chairman of FIPP, the network for global media.16th Oct 2017 Features
Artificial intelligence is a key technology that will transform many industries in the coming years. It is already playing an important role in the media, largely driven by the experiments of platforms like Google and Facebook.15th Oct 2017 Features
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