Chairman & CEO | F+W Media
We see it as being totally integrated. That feeds into the whole community structure. F+W serves 15 āpassionā markets. Previously, we were serving these markets with four different groups (books, interactive, magazines, events) that worked independently of the other verticals. Today, weāve reorganized by communities rather than channel. Weāve established a new positionācommunity leaderāwhich determines the best ways to serve the market for all things from data to media. There is no more prejudice for people to say, āIām in the magazine group, Iāve got to figure out how to sell more print,ā but rather we need to figure out best ways to serve our consumer base.
Advertising is not a large piece of our revenue pie. Most of our revenues come from book, subscriptionĀ and e-commerce sales. Fourth is print advertising. Our prime motivator is not to sell more advertising, although we always want to do that. We want to find new ways to sell content effectively.
Weāve invested seven figures in digitization of our content. Thatās roughly a three-year project and our goal is to digitize about 3,000 books and magazines. Weāve also put a six-figure investment into the CMS and hired 25 or so new people in the digital media arenaāeverything from online project managers to developers to content people.