Upload
others
View
3
Download
0
Embed Size (px)
Citation preview
Newspaper Conference 2009 Shaping the media of tomorrow. Today.
Kjell Aamot, libero (former CEO), Schibsted ASA
September 15, 2009
Charles Darwin
”It is not the strongest of the species that survive, nor the most intelligent,
but the one most responsive to change.”
‘Survival of the fittest’
3
From newspapers and books in Norway to an European media group
“We shall become the leading media company in Scandinavia”
*1994
# employees # countries revenues result
2 1001
3 billNOK
0.3 billNOK
From newspapers and books in Norway to a European media group
“Schibsted shall become the most attractive media group in Europe”
*2008
# employees # countries revenues2007
result2007
9 000
23
13.6 billNOK
1.2 billNOK
36 % 37 %
45 %
62 %
43 %
19 %
13 %
44 %
61 %
31 %
Q2 08 Q2 09
Online revenue growth and margins in Q2
7
SCM Spain 1)
%
-1%
Revenue growth Y/Y
-22%
-4%
17%
-17%
Ope
ratin
g m
argi
n (E
BIT
A)
EBITA margin
1) EBITDA for Schibsted Classified Media Mature online operations Spain
13 %
11 %
13 %
7 %6 %
16 %
6 %
0 %
Q2 08 Q2 09
8
%
-33%
Advertising growth Y/Y -12%
-27%
-20%
Ope
ratin
g m
argi
n (E
BIT
A)
EBITA margin
Print advertising growth and margins in Q2
0200400600800
1.0001.2001.400
Q2 08 Q3 08 Q4 08 Q1 09 Q2 09
Online Offline
02468
101214
Q2 08 Q3 08 Q4 08 Q1 09 Q2 09
Online Print
Continued overall online growth
9
• Overall migration towards online media continue
• Online growth in Q2 2009 5% Y/Y
• 28% of group operating revenues last 12 months came from online activities
• 69% of operating profit from online (ex headquarter cost and associated companies)
Online share of revenues rolling 12 months
Online share of EBITA* rolling 12 months
28%
*) EBITA excluding headquarter cost and contribution from associated companies.
NO
K m
illio
nN
OK
bill
ion
69%
The Economist, August 2006
Schibsted - a worldwide exception within newspaper business
”Running away from its printed past..”
• “The first thing to greet a visitor to the Oslo headquarters of Schibsted, (..), is its original, hand-operated printing press from 1856”
• ”Although Schibsted gives pride of place to its antique machinery, the company is in fact running away from its printed past as fast as it can”
• ”Unfortunately for the newspaper industry, Schibsted is a rare exception”
• “News of Schibsted's success online has spread far in the newspaper industry”
Quote: The Economist print edition on 26 August 2006
Schibsted interests academia
When the going got tough, we kept on going
“Schibsted has become so emblematic of online success that Bharat Anand, a professor at Harvard Business School, is writing one of the institution’s well-known case studies on the company.”
- International Herald Tribune, Feb 2007
Schibsted’s dual ownership structure results in a balanced challenge
The ”Tinius Trust” Institutional Investors• Scandinavia• London• New York
Not afraid to cannibalize ourselves
NOK million
86 96 98 99 9372 68 56 46
30 25 21 15
29 43 64 83105
13312
0
30
60
90
120
150
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Aftenposten
FINN
Aftenposten and FINN charge approximately the same for an ad, about NOK 200-300
80 85 89
10894
126
Aftenposten vs. Finn - Cars
148
1371 1323 1242 1215 1158 1136 1118 1028 981848 763 667
Readership print only (Norway)
97/2
Source: Gallup (96/97 represents Forbruker & Media 02/97)
Only paper version
Daily readership, thousands
98/2 99/2 00/2 01/2 02/2 03/2 04/2 06/2 07/2 08/205/2
1371 1323 1242 1215 1158 1136 1118 1028 981848 763 667
79 143 185 213 259306 375
446465
501
Readership print only (Norway)
97/2
Source: Gallup (96/97 represents Forbruker & Media 02/97)
Daily readership, thousands
98/2 99/2 00/2 01/2 02/2 03/2 04/2 06/2 07/2 08/205/2
13 46
Both online and paperOnly paper version
1371 1323 1242 1215 1158 1136 1118 1028 981848 763 667
79 143 185 213 259306 375
446465
501
70123 179 222 278 358
491 616 757 879
Readership print only (Norway)
97/2
Source: Gallup (96/97 represents Forbruker & Media 02/97)
Daily readership, thousands
98/2 99/2 00/2 01/2 02/2 03/2 04/2 06/2 07/2 08/205/2
Only online versionBothOnly paper version
1393 1403 13911481 1522
15711655 1692
18471910 1985
2047
VG Online – April 2007; ”Larger than my mum”
Crosslink is key
E24.se
Jobb24.se
The traffic machine can drive new growth
Since the first lauch of Swedish Metro in 1995, free newspapers have been launched in 58 countries, with 244 titles and circulation above 44 million copies
Source: Newspaperinnovation.com, august 08
20minutes – a success conceptModern editorial concept
- no political spin- fact based update- short articles & attractive design- handy format & full colour- content for young people
Attractive for advertisers- innovative and flexible solutions- our readers are the most attractive group
for big advertisers- cross media promotion – full integration
between print, web and mobile
Innovative distribution- free - centered around public transport- reach young, active, urban readers in
empty time slot- low cost due to concentration
20 minutes has built an attractive and loyal audience• 51% are between 25-49 years old
• 50 % are women
• 86 % read the paper at least three times a week
• 70 % read no paid papers
20 minutos is the most read newspaper in Spain ever, with 2 911 000 readers
Readership development of main Spanish titles (1000)
Source: EGM, AIMC
0
500
1000
1500
2000
2500
3000
3500
t1 0
1
t2 0
1
t3 0
1
t1 0
2
t2 0
2
t3 0
2
t1 0
3
t2 0
3
t3 0
3
t1 0
4
t2 0
4
t3 0
4
t1 0
5
t2 0
5
t3 0
5
t1 0
6
t2 0
6
t3 0
6
t1 0
7
t2 0
7
t3 0
7
t1 0
8
t2 0
8
Marca El Pais El Mundo 20minutes Metro Que! ADN
20 minutes is most read paper in France with more than 2,6 mill readers
Source: EuroPQN, ISL/GFK, EPIQ
0
500
1000
1500
2000
2500
3000
2005 2005/2006 2006 2006/2007 2007 2007/2008
Le Monde Le Parisien/AeF L'Equipe Le Figaro20minutes Metro Direct Soir Ville Plus
Free News | …now building the online audience
Nr 3 Nr 3
European business sites
European business site: Unique visitors monthly (m): Source:
6. BBC UKFS Business 2,0 NNR7. LesEchos.fr 1,8 NNR8. FAZ 1,7 Website9. Forbes.com Europe 1,5 NNR10. El Economista 1,3 NNR11. Expansion.com 1,1 NNR12. Invertia 0,9 NNR13. finanzas.com 0,9 NNR14. Handelsblatt.com 0,7 AGOF15. FTD.de 0,7 Website
European business sites
European business site: Unique visitors monthly (m): Source:
5. DI.se 2,1 KIA6. BBC UKFS Business 2,0 NNR7. LesEchos.fr 1,8 NNR8. FAZ 1,7 Website9. Forbes.com Europe 1,5 NNR10. El Economista 1,3 NNR11. Expansion.com 1,1 NNR12. Invertia 0,9 NNR13. finanzas.com 0,9 NNR14. Handelsblatt.com 0,7 AGOF15. FTD.de 0,7 Website
European business sites
European business site: Unique visitors monthly (m): Source:
4. Il Sole 24 Ore 2,1 NNR5. DI.se 2,1 KIA6. BBC UKFS Business 2,0 NNR7. LesEchos.fr 1,8 NNR8. FAZ 1,7 Website9. Forbes.com Europe 1,5 NNR10. El Economista 1,3 NNR11. Expansion.com 1,1 NNR12. Invertia 0,9 NNR13. finanzas.com 0,9 NNR14. Handelsblatt.com 0,7 AGOF15. FTD.de 0,7 Website
European business sites
European business site: Unique visitors monthly (m): Source:
3. Reuters UK 3,5 ABCe4. Il Sole 24 Ore 2,1 NNR5. DI.se 2,1 KIA6. BBC UKFS Business 2,0 NNR7. LesEchos.fr 1,8 NNR8. FAZ 1,7 Website9. Forbes.com Europe 1,5 NNR10. El Economista 1,3 NNR11. Expansion.com 1,1 NNR12. Invertia 0,9 NNR13. finanzas.com 0,9 NNR14. Handelsblatt.com 0,7 AGOF15. FTD.de 0,7 Website
European business sites
European business site: Unique visitors monthly (m): Source:
2. FT.com 3,7 ABCe3. Reuters UK 3,5 ABCe4. Il Sole 24 Ore 2,1 NNR5. DI.se 2,1 KIA6. BBC UKFS Business 2,0 NNR7. LesEchos.fr 1,8 NNR8. FAZ 1,7 Website9. Forbes.com Europe 1,5 NNR10. El Economista 1,3 NNR11. Expansion.com 1,1 NNR12. Invertia 0,9 NNR13. finanzas.com 0,9 NNR14. Handelsblatt.com 0,7 AGOF15. FTD.de 0,7 Website
E24 no. 1 in Europe
European business site: Unique visitors monthly (m): Source:
1. E24 (se+no+fr+nl+ee) 5,3 Site centric2. FT.com 3,7 ABCe3. Reuters UK 3,5 ABCe4. Il Sole 24 Ore 2,1 NNR5. DI.se 2,1 KIA6. BBC UKFS Business 2,0 NNR7. LesEchos.fr 1,8 NNR8. FAZ 1,7 Website9. Forbes.com Europe 1,5 NNR10. El Economista 1,3 NNR11. Expansion.com 1,1 NNR12. Invertia 0,9 NNR13. finanzas.com 0,9 NNR14. Handelsblatt.com 0,7 AGOF15. FTD.de 0,7 Website
Our strategy
Three strategies
Dominate markets Roll out proven products Best skills in Europe
1. Media house 2. Product 3. Capability building
37
The Mediahouse strategy – building the leading “media mall”
Three strategies
Dominate markets Roll out proven products Best skills in Europe
1. Media house 2. Product 3. Capability building
Schibsted Classified Media (SCM)Chairman: Sverre MunckManaging Director: Terje Seljeseth
Revenues ‘07: NOK 2.0 billionEBITA 2007: NOK 290 million
Spain Sweden France Italy Belgium
Austria Lithuania Malaysia Slovenia Estonia
coin.fr/
44
Strong development for new Blocket launches, LeBonCoin operating margin of 45%
Classifieds
• Blocket concept launched in 7 countries outside Sweden
• Continued strong development for LeBonCoin (50% owned)
• Traffic increase 86% last twelve months
• EBITDA margin 45%
• Operating revenues Q2 2009 EUR 4.2 million (100% of the company)
• Subito in head to head competition for #1 position in Italy
• New launch in Greece in Q2
Source: Nielsen Netratings July 2009
Three strategies
Dominate markets Roll out proven products Best skills in Europe
1. Media house 2. Product 3. Capability building
Market InsightMarket Insight
InnovationInnovation
SalesSales
We are aiming to be best in four areas:
OrganisationOrganisation
Time of opportunities
Charles Darwin
”It is not the strongest of the species that survive, nor the most intelligent,
but the one most responsive to change.”
‘Survival of the fittest’
48