Annual report 2013

Breaking digital barriers

If you are unable to change at the same pace as your customers, your business will soon suffer. This is particularly true in the media industry, where the pace of change is accelerating, led by rapid, technological advances and subsequent changing customer behavior and preferences.

Schibsted's vision, "Shaping the media of tomorrow – Today", recognizes this challenge. We will not fear change; we will embrace it and make it our ally. After only 15 years, the digital transformation of the industry is still in an early phase. The Board's top priority will be to ensure that Schibsted continues to pursue its digital ambitions at full speed and strength:

 

  • We will target global leadership in online classifieds
  • We will build world-class digital media houses
  • We will invest in the competence and capacity we need for achieving our goals

 

In the course of 2014, after 175 years of operating its business mainly based on print products, Schibsted will break the barrier of deriving more than 50 percent of its revenues from digital. To achieve this, the Board will continue to support a high level of investment in online classifieds, with emphasis on reaching profitable positions in our current new markets. The recent partnership with Telenor will help us attain this goal. Schibsted already enjoys leadership positions in many countries. In 2014, we will invest to strengthen our existing leaders in their efforts to enhance their profitability.

In order to remain relevant to our readers, the Board considers it important that Schibsted should continue to build world-class digital media houses. We therefore support the many initiatives within digital product development, digital user payment, and quality digital journalism in our media houses and expect this development to accelerate throughout 2014.

The ongoing digitalization process brings different parts of Schibsted Media Group closer together. Our business units share many common challenges which we are addressing with common solutions. One example is the successful establishment of Schibsted Payment ID (SPiD) for login and digital payment on our sites. This in turn enables us to further explore advanced data analytics as a core building block in our digital transformation. We aim to create insights from our data that will benefit our users with improved and more relevant products. In 2014, we will invest substantially in digital competence and capacity.

Technological change affects and challenges all parts of our business. New technology and increasing globalization have changed our business; we no longer have the unique position previously provided by national borders and languages. Our media houses have long felt the competition from international giants like Facebook and Google in the advertisement market. This is also true when it comes to content; we have to acknowledge that quality sites like those of the BBC, the New York Times, and others are competitors that are only a few clicks away on the smartphone. Consequently, Schibsted Media Group must be globally oriented in all its business units and in all new initiatives.

As change is the only constant, we strive to build an organization that absorbs continuous learning and adapts to change in a positive way. Change will come increasingly faster, at all levels, and will impact how we perform work processes, both individually and as a team. Therefore, in order to fulfill our mission of "Empowering people in their daily life", we must empower our employees in their daily work.

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