Carolyn McCall, ceo Guardian Media Group was the first keynote speaker. She says we are entering a new economy where competition comes from everywhere. For instance the Guardian’s Trader site makes £120m profit a year and eBay has just changed its business model to compete head on. Life is much more simple if you are a pure play she says; media companies may have to make decisions which are not obvious from a finanial standpoint. One of the biggest management challenges is that some people find this incredibly scary.
However there is a real opportunity:-
from words and pictures to film
from national to global
from passive to active communities (brands without active communities will die).
Five big challenges:-
- Build on your brands and your talent
- Stay close to your users
- Innovate to learn (being scared of screwing up is fatal)
- Excel at software development (delivery is everything) (“our best developers are as important as our best journalists”)
- Drive digital revenue growth. Scale is important – first for respect internally and second because we know there will be a slow down and we need to be at the highest possible base when it happens.