New Bauer CEO, Brendan Hill visiting Bauer Media Group COO Veit Dengler spoke with Hannah Blackiston for Mumbrella. Here are some quotes that may interest…
“We’ve made no secret of the fact that we’re going to keep growing our audiences and we also believe the data that will come out of it that will put us in good stead for the future. The business has been transitioning for sometime and globally we’re getting very serious about these different revenue streams and different areas for the business to grow,” says Hill.
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“I think if you look worldwide you will certainly see that some magazine publishers have disappeared or been acquired, that is a trend. But three is actually not that many players, in most big markets around the world there are more publishers than that. So I would say it’s actually already a fairly consolidated market,” says Dengler.
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“Media is always changing, as anyone in this game can tell you, but that’s the fun. That’s why we are into it, that’s why passionate people work in our industry. There are absolutely going to be changes, do we know exactly how the business will continue? No. But many big publishing houses are doing this globally, changing plans, acquiring, launching, closing. It’s the nature of media.
“So yeah, there will also be change. But we’re really excited for the core portfolio we have now and there’s a real focus on the executive team who are very strong and a good group of people in terms of innovation and looking at the business a different way,” says Hill.
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“I think Australia is probably one of the toughest markets for magazines worldwide. I think the advertising decline was faster and earlier than elsewhere. And if you look at the share of advertising dollars that go to magazines of the whole advertising pie it’s one of the lowest in the developed economies. And because of your geography, distribution costs are very high compared to other markets.”
Just as magazine publishers are confronted by challenges of change and lean into them, so should we.