Memo from Ann Moore: Time Inc. CEO Gives EVP Squires 'Special Summer Assignment'
Ann Moore‚Äôs missive: Find the right digital business model for our future.
This note was circulated internally to Time Inc. employees today:
From: Moore, Ann
Sent: Tuesday, June 16, 2009 3:06 PM
Subject: How to Put the Genie Back Into the Bottle; Special Assignment for John Squires
June 16, 2009
To:¬†¬†¬†¬†¬†¬† Time Inc. Employees
From:¬†¬† Ann Moore
Re:¬†¬†¬†¬†¬†¬† How to Put the Genie Back Into the Bottle; Special Assignment for John Squires
It won‚Äôt be a revelation to any of you that the publishing business is changing rapidly. While print magazines are not going away, and while we have built vibrant websites with over 26 million unique visitors and 750 million pages views each month, it‚Äôs increasingly clear that finding the right digital business model is crucial for the future of our business. We need to develop a strategy for the portable digital world and to refine our views on paid content.
Given the magnitude of the opportunity, I have asked John Squires to take on a new role and devote his full time efforts this summer to developing the best business plan for the future. John‚Äôs qualifications for this assignment are ideal. He has a strong background in consumer marketing and digital content and has stature in the publishing industry, as well as with digital software and hardware companies. It is likely we will be seeking partners and allies in our quest to ‚Äėput the genie back into the bottle‚Äô.
As many of you know, we are currently pursuing four related initiatives:
1.¬†¬† ¬†Evolving our current website businesses by identifying and developing consumer revenue streams.
2.¬†¬† ¬†Accelerating the creation of applications for smartphone platforms.
3.¬†¬† ¬†Developing new products and business models for portable digital readers.
4.¬†¬† ¬†Exploring partnerships with other publishers to develop the optimal retail store for our digital products.
John will need the support of many, including Consumer Marketing, Legal, Strategy and Business Development, and the Time Inc. titles. Please pitch in with all your resources available when he calls.
During this assignment, similar to the role I‚Äôm playing at the Style and Entertainment Group, I will assume responsibility for the News Business Unit.
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