There has been a small but, I hope, significant trend over the last few days. ‘Traditional’ UK consumer media companies have been announcing encouraging results – let’s hope the media recruiting follows. Today’s announcement from the Lebedevs that The Evening Standard has made a £1m operating profit in the last year was preceded a few days earlier by Briefing Media’s short blog on the fortunes of IPC, Dennis, and Haymarket.
Whatever its shareholders may think, News Corp
In a tough trading environment, the difference between success and failure is marginal. Let’s assume that 5% makes all the difference. This means publishers squeezing 5% more out of their budgets; sales directors improving their profitable revenues by 5%; and editors getting 5% extra creativity out of a budget reduced by 5%. The same principle applies for the events and research sectors – indeed, for any business.
But how does a company achieve this? Well, it requires
There is so much gloom and pessimism in the market at the moment that it is difficult to see any silver lining.
But here’s one:
Since we launched our headhunting business in March, our clients in the media sector have been extremely busy. Over the past eight months, they have retained us to find editors for three newsstand consumer magazines; an MD for a conference business; a sales director for a growing B2B publisher; editorial directors for two publishing houses; a publishing director for an online information service; and the editor of a national newspaper. In addition, we are currently involved in building teams in London and New York for a major news business.
Good news for us, obviously. But why is it good news for the market?
Well, it shows that our clients at least are confident enough to invest in their businesses. They believe that