Reaching 3.5 million of the country’s 5 million people every month, Stuff owns around 50 newspapers and magazines. The company also runs a hyperlocal social network called Neighbourly, which has 900,000 members.
Sinead Boucher (CEO & Owner, Stuff Ltd, New Zealand) joined WAN-IFRA’s recent Virtual World News Media Congress to talk about how the company is navigating the pandemic and how embracing a few challenges before it began helped Stuff quickly adapt to the new normal. Boucher is also on the executive and supervisory board of WAN-IFRA.
For example, a few years before the pandemic, wanting to lessen its reliance on revenue from advertising, the company began exploring how it could use scale and reach to build successful businesses and diversified revenue sources.
This move worked well for them until 2019 when Nine Entertainment bought Stuff’s parent company, Fairfax Media. This acquisition left Stuff divested of all its newly diversified businesses, taking it back to square one by the time the pandemic hit.
However, in May 2020, the silver lining for Stuff presented itself in a management buyout, which resulted in the platform returning to New Zealand ownership, a crucial decision for the company’s sustainable future.
Redefining company aspirations
The management buyout proved to be an excellent opportunity for Stuff to reset its business.
“For the first time ever, we were masters of our own destiny,” Boucher said. “With the pandemic hitting us, we …
Keen to read more? This content is exclusively available to our WAN-IFRA Members. If you believe your company is already a member, or you’d like to join in a personal capacity, please contact customer.service@wan-ifra.org If you’re a media journalist please reach out to dean.roper@wan-ifra.org
The post How Stuff aims to become New Zealand’s most trusted platform appeared first on WAN-IFRA.
Najnovšie články
- Six Steps Towards an AI strategy for news – and other findings from Generating Change report
- How Indonesia’s Kompas is growing its digital business
- Protected: Digital Media Africa 2023 recordings
- Embrace evolution: Print augments the growth of new media
- Can better immigration reporting help quell hate?
Najnovšie komentáre
Archív
- september 2023
- august 2023
- júl 2023
- jún 2023
- máj 2023
- apríl 2023
- marec 2023
- február 2023
- január 2023
- december 2022
- november 2022
- október 2022
- september 2022
- august 2022
- júl 2022
- jún 2022
- máj 2022
- apríl 2022
- marec 2022
- február 2022
- január 2022
- december 2021
- november 2021
- október 2021
- september 2021
- august 2021
- júl 2021
- jún 2021
- máj 2021
Kategórie
Search
Najnovšie články
- Six Steps Towards an AI strategy for news – and other findings from Generating Change report 21. septembra 2023
- How Indonesia’s Kompas is growing its digital business 20. septembra 2023
- Protected: Digital Media Africa 2023 recordings 18. septembra 2023
- Embrace evolution: Print augments the growth of new media 18. septembra 2023
- Can better immigration reporting help quell hate? 15. septembra 2023