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Tuesday 3rd October: Financial Times and Ringier share their business growth strategies
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Commercial evolution is an ongoing process, even for news organisations that are well into their second centuries. And at INMA’s recent Media Innovation Week, the UK’s 130-year-old Financial Times and the almost 190-year old Swiss media group Ringier were sharing strategies for developing revenue from expanding editorial efforts.
For the FT, creating a bridge between departments has been key in bringing different publishing disciplines to the table to collectively identify topics of joint editorial and commercial interest for ‘mini-brands’. For Ringier, the focus has been on creating value through external partnerships, adding resilience through affiliate revenue.
Bridging roles are key in both cases. At the FT, that’s been about breaking down internal silos. For Ringier, it has meant cultivating external ecommerce and sports betting partnerships. In both cases, success has come from closing the gap between established operations and new opportunities.
From our community forum: Great comment on our ‘Are sales people just money monkeys?’ thread: “…build trust between internal teams by being transparent and ensuring that all sides have a clear understanding of what they each do and how they do it.” Join in the discussion and stand up for the sales side.
National World has acquired Midland News Association, saying the move will “strengthen its UK national footprint”. MNA publishes the Express & Star and Shropshire Star brands and the acquisition gives National World a “significantly enhanced position in the Midlands”, comparable to its existing market positions in Yorkshire and Scotland. National World said the two newspapers were “the largest remaining independent regional assets in England” and that they will add 40% to its group-wide daily circulation.
Sky News is reporting that German publisher Axel Springer has registered an interest to buy The Telegraph titles ahead of the upcoming auction organised by Goldman Sachs. Its biggest titles include Bild and Die Welt in Germany, but it is active in 40 countries. Recent acquisitions include Insider and Politico. Other interested parties include Daily Mail owner Lord Rothermere and a group involving GB News investor Paul Marshall. Bring on the bidding.
X CEO Linda Yaccarino’s now infamous interview at the Code conference was, by most accounts, something of a car crash. Very on brand for the head of a platform crashing and burning in plain sight. Brian Morrissey is writing about her challenge as ‘Musk’s Medvedev’, having to have serious conversations about the future for X while being seen as a puppet. Sounds like her mistake was wanting to be a CEO so much that she forgot who she would be working with for.
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