Chairman & CEO | F+W Media
We see it as being totally integrated. That feeds into the whole community structure. F+W serves 15 ‚Äúpassion‚ÄĚ markets. Previously, we were serving these markets with four different groups (books, interactive, magazines, events) that worked independently of the other verticals. Today, we‚Äôve reorganized by communities rather than channel. We‚Äôve established a new position‚ÄĒcommunity leader‚ÄĒwhich determines the best ways to serve the market for all things from data to media. There is no more prejudice for people to say, ‚ÄėI‚Äôm in the magazine group, I‚Äôve got to figure out how to sell more print,‚Äô 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, subscription¬† 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.
We‚Äôve invested seven figures in digitization of our content. That‚Äôs roughly a three-year project and our goal is to digitize about 3,000 books and magazines. We‚Äôve also put a six-figure investment into the CMS and hired 25 or so new people in the digital media arena‚ÄĒeverything from online project managers to developers to content people.