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Fairfax’s BRW Going Digital ONLY

Posted: October 12th, 2013 | Author: | Filed under: Online Media, Print Media | Tags: , , , , | Comments Off on Fairfax’s BRW Going Digital ONLY

Fairfax MediaFairfax Media is closing the print edition of it’s weekly business magazine – BRW, formerly Business Review Weekly – after 32 years, as the company continues to shrink its workforce amid a major overhaul of its print operations.

The last issue of the weekly business magazine will be published on November 28, Fairfax’s director of business media Sean Aylmer has told BRW staff. A number of BRW’s senior reporters are highly regarded within their area of expertise.

The magazines publisher, Amanda Gome, says she is incredibly proud of the team behind BRW’s web presence and believes the publication will migrate successfully to a digital only version ::::

Fairfax's BRW Going Digital ONLY

Mr Aylmer told staff they would be eligible for voluntary redundancies as part of a broader reduction of 25 jobs in the business media unit announced last week.

The company, which also publishes The Sydney Morning Herald, The Age and The Financial Review, plans to continue the BRW brand exclusively online. However, unlike content on the websites of Fairfax’s major mastheads – which are behind a paywall – BRW journalism will be freely available online, Mr Aylmer says.

BRW was launched in 1981 and publishes an annual “rich list” of Australia’s wealthiest people, as well as providing news and commentary on the economy, business and investment in Australia. The magazine reports on successful business strategies, investments and entrepreneurialism. The magazine has been a staple for business folk.

Last year, Fairfax announced a major three-year restructure dubbed “Fairfax of the Future” that includes plans to cut 1,800 staff and close printing facilities in Sydney and Melbourne by June next year.

BRW looks to be focusing on expanding its reputation via clever community based innovations like its BRW Fast Club, launched in 2009, which was developed to drive new business opportunities, forge partnerships and discuss current business issues for Australia’s fastest growing businesses.

BRW Fast Club is a community of like-minded entrepreneurs that comprises members of the BRW Fast 100, BRW Fast Franchises and BRW Fast Starters lists from the past five years; members of the BRW Top 500 Private Companies List; and businesses who fit the criteria of the above and supply their company financials for verification. The BRW Fast Club meet throughout the year to network and discuss topics relating to cash flow management, strategic planning, business expansion, offshore expansion, finance (including managing capital & finding new sources), sales, how to sell your business, and IPOs.

Amanda Gome said on the company website, that the closure of any print magazine is a sad day for journalists.

“But it’s a testament to the strength of the brand, loyalty of readers and advertisers that it survived as long as it has in a weekly format as people migrate to digital media.” Ms Gome said. “BRW online beat almost every metric we set in terms of traffic and online print revenue. We are very proud of what we achieved.”

RELATED! Fairfax Moves High-profile Publications Offshore

Fairfax Dumps PagemastersFairfax is moving editorial production of some sections of its high-profile newspapers to New Zealand after declining to renew it’s lucrative publishing contract.

Pagemasters – a subsidiary of AAP – has been responsible for sub-editing and producing popular lift-out and specialist sections in The Age,  Sydney Morning Herald and Canberra Times since 2008.

High-profile titles including Good Weekend, Spectrum, Drive and Domain were sent to offices in Melbourne and Brisbane to be edited and polished. However Fairfax has decided not to renew its five-year contract with Pagemasters. Read the full article »»»»

RELATED! Will Fairfax Paywall Cannibalise it’s Printing Press?

Will Fairfax Paywall Cannibalise it’s Printing Press?

The death of print is back on the tips of expert tongues with Fairfax Media announcing it’s hoping to replicate the success of its international digital subscription service when it launches a metered paywall in Australia next month. From July 2, visitors to The Age and Sydney Morning Herald websites will have free access to 30 articles each month, any reading after that will cost.

Fairfax chief executive Greg Hywood says the move is part of a restructure which will save the company an additional $60 million by the end of September –this year, ambitiously – Mr Hywood told an investor briefing this morning that the restructure aimed to reduce duplication across the business, with a minimal impact on content and sales.

While Mr Hywood warned of a sharp fall in Fairfax’s overall earnings, he said there were no plans to eliminate the print versions of any of the company’s mastheads. In march this year Fairfax Killed of it’s familiar broadsheets, consigning the format to the history books, with the first tabloid editions of The Sydney Morning Herald and The Age rolling off the printing presses on March 4, does a paywall signal the further shrinkage of physical paper as a source of news?

The battling media company says it’s international digital paywall – launched in March – has attracted almost twice as many subscribers than expected. Mr Hywood reiterated that the company had “no plans” to kill of print, however many media analysts believe that his statements only apply to the company’s popular weekend print editions :: Read the full article »»»»

RELATED! Fairfax Kills OFF Broadsheets and Lifts Profits

Fairfax Goes Tabloid, sorry COMPACT!Fairfax Media’s familiar broadsheets have been consigned to the history books, with the first tabloid editions of The Sydney Morning Herald and The Age rolling off the printing presses this morning.

In what is more of a survival strategy than a cosmetic overhaul, the larger broadsheet layout has been dumped for the weekday editions as Fairfax Media fights to hold onto readers and advertisers in a digital media world that has forced the closure of papers around the globe.

Apart from just size – which Fairfax amusingly refers to as compact rather than tabloid –  one of the biggest changes puts sport on to the back pages, with the very back page taken up by an advertisement, nice work.

Fairfax’s head of advertising strategy, Sarah Keith, says the company put in some very serious research. Brain imaging was used to track what readers really wanted during the entire redesign process, with some resounding plus’ for the new tabloid sized compact papers :: Read the full article »»»»

RELATED! Hamish McLennan Blames Lara Bingle For Tens Massive Loss

World of the NewsStruggling television network Ten has swung to a $243 million loss on falling revenue and large write-downs. The embattled broadcaster’s first-half loss for the six months to the end of February was well down on a $14.8 million profit in the same period a year earlier. Ten blames $304 million in one-off write-downs, including a $292 million reduction in the value of its television licences, for the bulk of the loss.

However, Ten’s new chief executive officer Hamish McLennan, who has only been in the top job for around three weeks, says poor ratings and a resultant 16 per cent fall in revenue also hurt the company. Mr McLennan singled out some of network’s significant ratings flops last year as a significant cause of the revenue slump, and says he is looking to reach out to an older audience as well as maintaining the network’s traditional youth market.

The network has slashed its television costs by almost 11 per cent over the past 12 months to $247 million, after several rounds of job cuts, with the latest coinciding with the company’s full-year results in October last year. Ten has also reduced its net debt by $262 million in the first-half after raising more money from shareholders and selling its Eye Corp outdoor advertising business, leaving it with net debt of $1.2 million at the end of February :: Read the full article »»»»

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source: brw

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