1. Why “newspapers” Growth levers for news publishers Operational efficiency Superior competitive strategy Culture change Best practices Sales excellence Motivation

2. Google macro-culture Speed over perfection Low-cost innovation Placing many small bets

3. Google micro-culture Hire people smarter than you, get out of way Hire generalists to deal with “what’s next” Don’t reward good planning, reward results Attending meetings not getting things done Passion: feedback, don’t take it personally Eat your own dogfood

4. Why “newspapers” Culture change (us) 1.Don’t listen to the market 2.Don’t focus on differentiators, USPs 3.Go where the growth was yesterday 4.Perfection over speed 5.If you fail, you’re fired 6.Push print model to other platforms

5. Why “newspapers” Culture change: only path to growth 1.Operationally excellent 2.Raw content engine good enough 3.Structural advertising vs. order takers 4.Must change how we pursue revenue 5.Must change industry perceptions

6. Newspaper content equal to TV, blogs 4 of 5 prefer screen access to content Low value: original content, objectivity Rising preference: short-form content Comfort: many media choices Lack of trust: role of editor Gen Y influence

7. Why “newspapers” Faces of culture change 1.Evergreen task force Globe and Mail 2.Designated instigator Postmedia Network 3.Dominant CEO Journal-Register 4.Part of human resources fabric Jawa Pos 5.De-centralised incubation

8. Why “newspapers” New news ecology (“digital-first”) JOURNAL-REGISTER COMPANY | UNITED STATES What customers want on platform of choice Prioritise platforms by velocity (fast to slow) Cut legacy costs: infrastructure Business plan changes valuation metrics (25%-50% of EBITDA from digital)

9. Culture audit Current: culture of hierarchy/clan Future: culture of innovation, entrepreneurship Business development fund = 5% of revenue Cross-departmental, analytics, market focus Seamless multi-media publishing model Change must begin with senior management VÄSTERBOTTENS-KURIREN (VK) | SWEDEN

10. Brand academy Teaches newspaper executives How to build, manage brands Product development process All departments SCHIBSTED | NORWAY

11. Print vs. digital 200 magazines, Web-centric company Manage print for profit Manage digital for growth Pursue digital audiences: social, syndicated, crowdsourcing Cut print products by half IDG | UNITED STATES

12. Creatively combating disruptive innovation DESERET MEDIA | UNITED STATES Avoid incumbent mistake: defend turf Keep print and digital separate Drive down content costs: US$285 to US$25 Volunteer content network Be true to your USPs

13. Targeted strategy TORONTO STAR | CANADA Newsroom: cut 70 jobs, 2x investigative Outsourced pre-press Outsourced retail/classified ad sales Focused on major customers, agencies Increased marketing expenditures

14. TORONTO STAR | CANADA Print ad reliance: 80% to 40% Maximize price for all content Expand digital communities New business development Diversify revenue streams

15. 50/50 Project Owned by Mecom 23,000 daily circulation 90% time print, 10% digital Rapid digital growth Employees tell corporate: digital where we will grow FREDRICKSTAD BLAD | NORWAY

16. Everyone resigned Re-applied print/digital jobs Ad reps print/digital Multi-media reporters Local citizen journalists 50/50 Project FREDRICKSTAD BLAD | NORWAY

17. Digital 20% revenues Print revenues same Identified path to growth Had to transform culture Model elsewhere in Europe 50/50 Project FREDRICKSTAD BLAD | NORWAY

18. Culture trumps strategy!

19. Print culture 95% of labor, overhead allocated Operations, production, management Incremental, defensive, thorough All things to all people, too broad 5% left for everything else

20. Digital culture 50% overhead, 50% “everything else” Innovation, strategy, marketing, research Willingness to fail Offense Speed