Stuff has announced plans to sell or close 28 mastheads (listed below) from its print portfolio of smaller community/rural titles and free inserts. The changes are a continuation of Stuff’s strategy to grow its digital business and recognise print’s ongoing challenges, says ceo Sinead Boucher.
The company is working through the detailed plans for each individual title. Further briefings with staff and communities will be held over the coming weeks.
The Stuff and Neighbourly digital platforms will be used to continue to serve audiences and advertisers potentially affected by the changes.
All other mastheads in the Stuff group continue business as usual.
“We appreciate that this process creates a level of uncertainty for some people – and we will move as quickly as possible to provide them with clarity,” Boucher said.
“Changing the print portfolio has involved some tough decisions, but it is clear where the future of the business lies. The Stuff business is delivering strong digital revenue growth, benefiting from the growth of our new business ventures.
“The sales or closures are expected to be completed by the end of the 2018 financial year.”
“This is providing some offset to ongoing print advertising challenges, however we need to continue to act decisively in transitioning our business model into an increasingly digital business.
“Our strategy is focused on achieving a business model where digital revenue growth outweighs declines in print – so we can maintain a strong national footprint to serve our New Zealand communities with our quality journalism, content and great experiences.”
The sales or closures are expected to be completed by the end of the 2018 financial year.
List of Mastheads
Avenues, Waikato Farmer, Admire Marlborough, NZ Dairy Farmer, Discover Magazine, Selwyn and Ashburton Outlook, Admire Nelson, Hastings Mail, Christchurch Mail, Napier Mail, The Tribune, Kaikoura Star, Invercargill Eye, Auto Xtra, South Canterbury Herald, Clutha Leader, Waiheke Marketplace, NewsLink, Wairarapa News, Queenstown Mirror, NZ Farmer, Waitaki Herald, Canterbury Farmer, North Waikato News, Central District Farmer, Rotorua Review, Otago Southland Farmer, Ruapehu Press.
- More info here: www.stuff.co.nz
Share this Post
