Business Media Companies Brace for Recession
Eight out of ten business-media executives said they were focusing on the end user — content, data, applications and services — with the aim of reducing costs and ramping up productivity amid the weakened economic environment, according to a new study. The study, titled “A Roadmap for Profitable Revenue Growth,” was released this week at American Business Media’s Top Management meeting in Chicago. Conducted by New York-based consulting firm Booz & Co., the study took the pulse of 76 ABM members. The study said outsourcing and moving jobs overseas are effective cost-cutting strategies for business-media companies. But some top media executives aren’t buying it. Andrew Goodenough, CEO of privately held Summit Business Media, said: “We’ve been doing what Booz tells us not to do.”
Matthew Schwartz is Senior Editor of ScribeMedia.org and host of the WebTV series, From Print to Digital.
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