New business models to counter the crisis
How can media companies publish contents by way of various channels as print products and online, organize processes to a higher level of efficiency and boost their sales on the basis of new business models? This was the topic of a panel discussion with Dieter Reichert, CMO of censhare AG, as well as Rob Grimshaw, Managing Director of FT.com, Marcello Mirandoli from the RCS MediaGroup and Sophia Stuart of Hearst Digital Media. The discussion was part of the conference program of the 37th FIPP World Magazine Congress, which is attracting the leading international media industry players to London on May 5 and 6, 2009.
Board members, managing directors and executives of publishing houses, media and advertising agencies as well as management consultant firms from across the globe convened at the world’s largest conference for magazine publishing staged by the International Federation of the Periodical Press (FIPP) as a bi-annual event. The last conference was in May 2007 in Beijing, and was attended by more than 1,000 media professional from 60 countries at the time. The key topic of this year’s conference was to arrive at a realistic estimation of the current situation of the media industry, and to show up ways to counter the current crisis.
Media at a critical juncture
„The Internet is shattering the old media’s monopoly and is creating prosumers who are no longer simply recipients, but also content producers at the same time. This is giving rise to a totally new information culture. Publishing managers who fail to address these developments by fielding new online offerings and finding ways to boost the value creation of existing business assets, will no longer be on the markets in two year’s time,“ predicts Dieter Reichert, board member of censhare AG, the provider of information and publishing systems. “The sale of contents, additional products and advertising can no longer be treated as separate, independent business areas, but instead as aspects of comprehensive, personalized offerings. Readers should no longer be drowning in a flood of information, but receive individually tailored news, background information and purchasing recommendations and also have the opportunity to interact with like-minded people in online communities. These models provide publishing houses with new sales potentials through content sales, online advertising, web shops or community events.“
The FIPP World Magazine Congress, attracting publishers, journalists as well as marketing and advertising professionals showed that these two worlds, which have been separate to date, belong together today. The topics of presentations range from general business, market and media trends to concrete strategies for the convergence of digital and print media, all the way through to the latest developments on the international advertisement markets and the opportunities presenting themselves to the media industry. The conference agenda features some 60 speakers, including the president of Gruner + Jahr International, Torsten J. Klein, Cathy Black, the CMO of the American Hearst Magazines corporation, Phil Stokes the CMO of Unilever Simon Clift, as well as the head of the entertainment and media department at PricewaterhouseCoopers UK and Christie Hefner, active as Chairman and CEO of Playboy Enterprises up to the beginning of 2009.
Networking for professionals
Evening events at exclusive locations offered ample opportunities for networking and exchanging ideas. Delivering a controversial answer to the speech of Google CEO Eric Schmidt at the “Newspaper Association of America“ conference at the beginning of April, Dieter Reichert did address the participants on the first conference day as part of the informal “get together“ and encouraged discussions on the current state of the media industry. The event took place at the hall and on the terrace of the Old Billingsgate event venue, on the banks of the River Thames with a view of the Tower and London Bridge, and was sponsored by censhare.
Download the speech of Dieter Reichert as PDF.