With print magazine circulation in decline and magazines losing appeal for both consumers and advertisers, Hearst UK put in place a top-to-bottom restructure, coupled with an ambitious commercial plan to reverse revenue losses and future-proof the business. The included the creation of integrated hubs of expertise within editorial and commercial teams, optimising cover prices with newsstand sales and diversifying products and services to offset legacy revenue declines.
Transforming the culture in media has also been central to Hearst UK’s strategy over the last year. It launched The Nest, bringing in young people from all backgrounds to work on new projects for the business and its commercial partners, undertook a company-wide gender pay gap analysis, committing to creating pay parity and launched a quality control metric for its branded content. Over the past 12 months, Hearst UK has posted revenue growth year-on-year and increased profits, and has also seen its digital audiences increase by 36%. Event attendance, meanwhile is up by 50% and the business also won its biggest-ever contract to date: a global collaboration with Ritz-Carlton to create five original short films.
Digital Cinema Media
Ocean Outdoor Twitter