Tomorrow, the DCMS will publish its recommendations on best practice for how (and if) public libraries should lend e-books. It’s not straightforward, as this item on C4’s news tonight demonstrates. There are four parties involved – users, publishers, authors and libraries themselves – each of which demand satisfaction.
Libraries have always challenged the publishing business model; but e-lending, with the implicit suggestion that the reader can borrow a book at any time from anywhere, throws the doors wide open. A drop in
It will be fascinating to see whether Elisabeth Murdoch’s MacTaggart lecture (full text here) signals a glasnost moment in the relationship between BskyB and the BBC. While it is important to note that she is not an executive at either News Corp or BskyB, her company Shine is owned by News Corp, and her membership of
It was announced today that, after an extensive media executive search, Euromoney Institutional Investor has replaced its MD, Richard Ensor, with a member of the Euromoney board, Christopher Fordham. Moreover, it was announced that Ensor would become Executive Chairman of the business, replacing Padraic Fallon who has held the position for a number of years.
This is one of those moves that normally makes me raise my eyebrows. You call that a search? Usually, given these announcements, I am reminded of James Murdoch’s appointment as CEO of BSKyB in 2003 – and look how well that turned out.
But Euromoney is arguably different. While it is self-evidently true to say that a company has a unique culture, in Euromoney’s case this has been critical in its success. And it has been incredibly successful: it has a market cap approaching £1bn and is likely to announce profits of over £100m this year. As this article shows, when Ensor took over, the company was making one tenth of that.
Fordham joined the company in 2000 (placed, as it happens, by my former business partner John Watts), and has since overseen a hugely successful strategy of organic and acquisition-driven growth. Like his predecessor, he is very smart, with an absolute grasp of detail and a gut instinct for strong businesses. He will fill Ensor’s boots admirably – just as Ensor will fill Fallon’s.
I don’t envy the search company that had to try to better Fordham (it wasn’t us). Executive search is all about covering the market to ensure that your client has absolutely the best candidate for the job. As frustrating as it may be, you sometimes have to accept that the best candidate is already in the business.
Martin Tripp Associates is a London-based executive search consultancy. While we are best-known for our work in the TMT (technology, media, and telecoms) space, we have also worked with some of the world’s biggest brands on challenging senior positions. Feel free to contact us to discuss any of the issues raised in this blog.
The Guardian’s Dan Sabbagh yesterday noted that Mail Online’s revenues have grown by 69% in the last year, from £16m to an estimated £27m. For Sabbagh, this is vindication of the Mail’s advertising-fuelled approach (and by extension, The Guardian’s) over News International’s much-criticised Times paywall. Since the wall went up, the Times’s growth has been respectable, but there are signs that it may be slowing down, with NI attempting to make up the shortfall with price hikes, particularly for tablet subscriptions.
It’s worth pointing out that even by Sabbagh’s calculations, The Times website appears to be making more through subs that The Guardian’s is through advertising, but any sign of slowing growth is a worry. This is where the Mail’s astonishing success comes in – Mail Online’s growth has been built on a platform of traditional Mail readers, bored office workers and enraged Twitter liberals. It’s difficult to read an article like this recent piece on the French election and not see a calculated attempt to whip up some lucrative, hit-friendly outrage. But it works – the Mail’s online alchemy means they’re making money even from people who hate them with a passion. Who’s likely to pay for a Times online subscription? People who already like The Times, and there’s a finite number of them.
But all this means that Mail Online is fully integrated into the way that news is predominantly consumed in 2012 – and putting journalists into media jobs – as office browsing material or part of a noisy and often chaotic network that includes other news sites, blogs and social media. Whether they’re fuming at a disparaging piece on the NHS, trawling for football transfer gossip or just looking at large pictures of Rihanna in a bikini, it means people click, people link, people debate, and then yet more people click. The Times’s paywall has cut it off from this ecosystem.
That’s not to say that paywalls can’t work under any circumstances. Far from it – parts of the B2B sector have had considerable success by charging for information people have to have and are willing to pay a premium for. They’ve largely done better than their advertising-driven rivals. The less rigid subscription models favoured by the likes of the FT and the Economist have been broadly successful. But these are titles that occupy a particular niche within their marketplace – even a Times exclusive will be followed up by the Telegraph, Guardian or BBC within minutes. News International’s defenders will point out that people have always paid for printed news in the past, but cover prices have only ever represented a small proportion of overall newspaper revenue. If The Times’s online growth is indeed levelling off, it’s time to rethink that paywall.
Martin Tripp Associates is a London-based executive search consultancy. While we are best-known for our work in the TMT (technology, media, and telecoms) space, we have also worked with some of the world’s biggest brands on challenging senior positions. Feel free to contact us to discuss any of the issues raised in this blog.
A lesson for traditional publishers everywhere- and perhaps as a knock-on the media jobs market – in the news that the Economist Group has managed to raise pre-tax profits by 9% year-on-year, despite a 17% fall in print advertising revenue for its UK title.
The Economist has been so successful at offsetting the ill effects of the ongoing print advertising storm partly because it’s been prepared to be innovative without jumping on bandwagons. While they’ve embraced tablets and smartphone apps, gaining 10,000 digital subscribers in the process, they’ve resisted the temptation to try and beat rivals in the breaking news game. And, crucially, they’ve managed to grow their digital business without cannibalising print subscriptions. Magazine subscriptions have held steady and print revenue was up 8% despite the advertising slump.
Of course, it can’t hurt that casual interest in economics has been sky high over the last few years, and that the Economist has a generally affluent readership. But it’s also succeeded by flying in the face of print publishing’s received wisdom that in the age of the internet, people want short, punchy, accessible content quickly. For years, magazines have raced to cut word counts and big words alike, oblivious to the fact that readers can get content like that on the internet anywhere. But the Economist’s success shows the opposite, that the publications best placed to survive are those who can provide an authoritative voice and something of substance to their readers, without underestimating them. Denser, longer-form articles still work better in print than online, and the Economist looks good on coffee tables. A bit of humour helps too (see left). A lesson for magazine publishers everywhere, if they’re prepared to heed it.
Martin Tripp Associates is a London-based executive search consultancy. While we are best-known for our work in the TMT (technology, media, and telecoms) space, we have also worked with some of the world’s biggest brands on challenging senior positions. Feel free to contact us to discuss any of the issues raised in this blog.
So, Warren Buffett has decided the time is right to buy local newspapers. Not content with snapping up 63 daily and weekly newspapers of Media General, it seems he is eyeing more acquisitions. Could this be good for the media jobs market in the US?
Why would anyone want to buy local newspapers? Why, in particular, would the world’s most successful investor want to buy local newspapers? The perceived wisdom is that it is a shot business
At the time of writing Facebook’s value is down 11% with shares valued at $34, having peaked at $42 on Friday several hours after the start of trading.
Many have questioned where the value in the brand lies – it clearly is not in its existing revenues – it “only” made
It’s not every week you wake up to the noise of a well-run business shooting itself in the foot. But Waterstone’s decision to start selling Kindles in-store certainly looks like a case of “letting the fox into the chicken coop” as Today interviewer Simon Jack said this morning.
And there is no doubt that Amazon can be cast in the role of fox. If you don’t believe me, ask
There was a minor palaver a couple of months ago when Datasift acquired the rights to search the last two years of Twitter feeds to serve its clients’ market research purposes. It was widely reported as a threat to privacy – equated with Google’s autoscanning of your Gmail account to target advertising.
Of course, there is no comparison. Twitter is, by its nature, a public platform. Facebook is – for most of its users – also public. So what has this got to do with a column on careers?
I recently read an article by James Ashton in the Evening Standard which is one of the most incisive I’ve read in recent times about the plight of regional newspapers and the knock-on effect for media jobs in the regions.
It is ironic that, while we have a culture secretary who is championing “ultra-local” broadcast businesses, print equivalents are rapidly losing the sense of identity that makes them a ‘must buy’. Of course, it is an expensive thing to maintain a news centre
An unnamed Kotaku source caused a flutter of excitement yesterday by claiming that the PS4 is expected to launch around Christmas 2013, and is codenamed Orbis. While doubts persist as to the veracity of these claims, it’s believed that “select developers” have already received development kits for the new console. It can only be good news for developer and media jobs in the long run.
Apparently, the Orbis won’t be backwards compatible with PS3 games, potentially disappointing millions of gamers. But most intriguing is the news that the PS4 will have some kind of functionality built in that will prevent the use of pre-used disc games – locking a particular disc to a single PSN account.
At the very least it will severely limit the functionality of second-hand games. As an anti-piracy measure you can see their thinking, particularly as full retail games will be available in download-only format. But as someone who grew up eagerly borrowing and lending cartridges in the playground, it’s hard not to feel like something’s being lost here. Regardless of the truth or otherwise of yesterday’s rumours, expect something spectacular.
The explosion of Pinterest is something we hear about on a daily basis. The fact that it’s biggest group user group is 18-34 year-old, upper-income women who are interested in subjects such as fashion and interior design is of great interest to fashion e-commerce players. The site appeals to the human desire to collect things and
A day before the RTS awards, it’s good to see the government heavily trailing tax breaks for British TV productions in this week’s budget. Obviously, this is not yet policy; we wait to see how this will pan out on Wednesday. Nonetheless, an article in the Guardian today illustrated the huge impact these – relatively inexpensive – tax breaks can have on the industry. They can, for example, be great for media jobs creation.
Downton Abbey was, of course, a huge success. While it did not
At this week’s Retail Week Conference, Kingfisher chief executive Ian Cheshire told delegates that they need to improve innovation in order to remain competitive and that retailers will need to recruit people with a “real point of difference and who understand brands” because it is a different skill to those who trade the business.
As well as recruiting for technologists who can lead innovation recruiting into media executive jobs is vital. Retailers should carefully consider
The other day I wrote that “’does this have a robust text inputting interface and lengthy battery life?” is increasingly less of a concern for many consumers than “can I play Angry Birds on this?” Clearly Samsung feel the same way, having twigged that “can I get loads of extra levels of Angry Birds for free on this?” is an even bigger draw.
Not long after I posted yesterday’s entry on the importance of content to mobile OS’s, my attention was drawn to this post from Zombieville developer Mika Mobile. Essentially, the company has decided that it isn’t making enough from Android downloads to merit the time it takes to keep them updated, and is pulling out of Android development altogether:
“We spent about 20% of our total man-hours last year dealing with Android
Speaking on Radio 5 Live to Simon Mayo and Mark Kermode today, Andrew Stanton, director of John Carter, complained that people were fixated on “the money”. “It’s the most boring subject in the world”, he protested. “I make films for myself.”
Of course, it is difficult to criticise someone with his track record (Toy Story, Wall-E, Finding Nemo, etc). But, as Kermode later protested, if you spend $250m on making a film, people are bound to focus on the money. Investors want a return
I wrote a marketing letter today. Not surprising, I grant you. Except that I mentioned – without irony – that non-media brands require “media skills” to create trust. Given the current crises in the media sector, this may have seemed chutzpah of the highest order.
The Leveson enquiry, and all that it encompasses, shows that (in the UK, at least) trust in traditional media is collapsing. The newspaper watchdog, the PCC, has failed. The industry has been accused
We’ve been working recently with eSocialMedia to improve the way that we communicate with our clients – an area in which, up till now, we could definitely improve.
I was intrigued to see on their website mention of the Direct Resourcing Think Tank (DRTT), which they hold every six weeks or so.
At the end of last month’s column, I wrote: “That thing they always said about treating people well on your way up because you might need them on your way back down is really true. I can think of a number of people who struggle to get work because they burned so many bridges in the past.”
I have written little about the importance of maintaining good relationships in your career; cynically, it might be called career management. A great many people in business
I’ve just been reminded of this year’s traditional family Christmas row. I mentioned that I was planning to buy a Kindle. My sister, an author of many books, spluttered that I shouldn’t mention Kindle to her. It would kill publishing – and media jobs – just as surely as downloading had killed the music industry. She also felt that authors were entitled to a larger slice of revenues from e-books because the publishing companies had much lower overheads.
Last month marked fifteen years since I became a media headhunter. Much of that time has been concerned with careers in journalism. Which begs the question: what, if anything, have I learned in that time? Here are some things I didn’t know back in 1996:
It is astonishing how much the sector has changed in that time. The job titles themselves are indicative of these changes. While we still recruit MDs, Editors, Sales Directors and so on, we are now as likely to be working on roles like Head of Product Roadmap or Chief Scientist. As business models keep changing, so too do the attributes of the individuals who can add value.
It is the end of the year – and I would love to be able to give some seasonal good cheer about the jobs market. I rang Allan Cross at Media Networks to see if he could sprinkle a little fairy dust. But, like me, he is cautious.
I have just watched BBC3’s “Up for Hire.“ Four young unemployed people were given an opportunity to show how they would work under different circumstances. I found it quite depressing: not least because it served to underline prejudices about media degrees and media graduates.
Kirsty, one of the four candidates, had graduated in Newspaper and Online Journalism. She was disappointed because she had “paid a lot of money” and couldn’t get the job she wanted in the media. She also mentioned she didn’t like being “told off” or in a team: “I like working on my own really – that’s got something to do with me wanting to be a reporter.” The inability to take direction or collaborate seem pretty large barriers to entry in any career – especially journalism.
I’ve been asked by the Editor for the impossible: to find some good news for those journalists who have suffered redundancy as a result of the closure of the News of the World. Are there media executive jobs – and regular media jobs – out there for them?
Journalists suffer redundancy all the time, of course; but the NoW is special. The reasons for the newspaper’s demise have been well-documented. And because of the mishandling of the investigation by News International, nobody is yet sure to what levels the misbehaviour extended, nor when it stopped (or started).
A colleague recently sent me a link to businessinsider.com, where “Headhunters Reveal 11 Ways To Ruin Your Chances Of Getting A Job”. A lot of it applies to getting a job in the media market, but it got me thinking about some things that are specific to journalists.
I’ve never been one for a plan. Most of the best things that have happened to me – personally and professionally – have just come out of a willingness to say “Yes”. Or at least “Why not?”
“Frankly, Mr. Shankly, this position I’ve held
It pays my way, and it corrodes my soul
I want to leave, you will not miss me…”
As Morrissey famously illustrated, there are ways to resign, and ways not to. However good for the soul it might be to get back at a boss or a business, it is inadvisable. Resignation is an underestimated part of career management. How you leave will often dictate how you are remembered.
A week ago, we picked up a brief for a client looking for a media search consultant (us) to find them senior writers in the energy sector (see “Job Spy” for more details, by the way). We were given the brief because the client had previously worked with a contingency agency who had forwarded a number of CVs without meeting any of the candidates.
