Guardian Media Group is going through a time of revolution as its most prominent figures lead a three-year plan to turn around its fortunes and ensure that not only does the long loss-making company begin to break even by 2019, but that its future is sustainable as publishing models evolve faster than ever.
Chief executive David Pemsel and editor in chief Katharine Viner were not long in their respective roles when, in January 2016, former Google executive Hamish Nicklin was recruited from AOL to the newly created role of chief revenue officer.
“We all believe we have to be positive and stay single minded and if we don’t then we’ll cross that bridge but for the moment things are looking good,” he states, adding that conversations on the Group's future still covering the next four, five and six years.
“We aggressively grew in America based on the belief over digital advertising revenues; that with an increase in page impressions and reach the ad money would follow.
That’s exactly what we’ve done in the US where we have changed the size of the operation but we are still seeing excellent journalism and coverage of the key issues that we care about," he states.
“Investing ahead of the revenue is not something we want to do right now ahead of time,” he offers, giving a glimpse into the current psyche that the publication needs more guarantees on a return in future.