Michael Ringier is "not at all happy" with the Blick format
The Zurich-based media group Ringier has not been spared by the crisis in the industry. The advertising business literally collapsed at the end of 2008. Chairman of the Board of Directors Michael Ringier does not foresee a turnaround anytime soon. “This is the most difficult phase we’ve ever had to navigate,” Ringier said in an interview with the Handelszeitung published on Wednesday.
The Zurich-based media group Ringier has not been spared from the crisis in the industry. The advertising business literally collapsed at the end of 2008. Chairman of the Board of Directors Michael Ringier does not see a turnaround for the time being. "This is the most difficult phase we have ever had to overcome," said Ringier in an interview with Handelszeitung published on Wednesday, according to SDA. The media group had already registered the first declines in advertising in July. "October and November were catastrophic", and there has been no sign of a counter-trend so far this year. However, there are still products and countries that are doing relatively well, Ringier continued. There is growth potential in the online business. Ringier has invested a "three-digit million amount" with the purchase of Media Swiss, which operates the internet platform Gate24.ch, among others. "This is an investment that has made us the number one in this segment in terms of turnover".
Blick online brings no money
Ringier is "very satisfied" with Blick online. "We were in the black, but then important investments were necessary," said Ringier. Making money with it now is not the top priority. But Blick online is a matter of course for Blick readers. Abandoning the portal would damage the brand. Ringer could not afford to have a leading newspaper on the market without an online presence. "So we are forced to have 'Blick online', even if we are not currently earning any money with it."
The Group does not earn any money with the free commuter paper Blick am Abend either. However, the Blick Group and Blick itself are profitable, said Ringier. Ringier is "not happy at all" with the print edition of the publishing house's flagship. In tabloid format, the paper offers too little space "to present stories in an attractive way. We need to distinguish ourselves again as a different kind of newspaper". The newspaper format will therefore be changed. He has not yet decided whether there will be a larger tabloid format or a return to the old format. A decision will be made in the coming months.
Cash losses contained
The Cash brand has not suffered despite the closure of the weekly and the free newspaper. However, it was a bitter disappointment that the free paper had to be discontinued, said Ringier. By discontinuing the print edition and cutting staff, the cost side of the business title had been reduced. "We believe that we will earn money in the medium term". Ringier did not want to know about a loss of CHF 11 million at the Cash Group. However, it was no secret that the newspaper cost a few million francs a year. However, Michael Ringier remains confident that the financial gaps can now be closed.
Blick online brings no money
Ringier is "very satisfied" with Blick online. "We were in the black, but then important investments were necessary," said Ringier. Making money with it now is not the top priority. But Blick online is a matter of course for Blick readers. Abandoning the portal would damage the brand. Ringer could not afford to have a leading newspaper on the market without an online presence. "So we are forced to have 'Blick online', even if we are not currently earning any money with it."
The Group does not earn any money with the free commuter paper Blick am Abend either. However, the Blick Group and Blick itself are profitable, said Ringier. Ringier is "not happy at all" with the print edition of the publishing house's flagship. In tabloid format, the paper offers too little space "to present stories in an attractive way. We need to distinguish ourselves again as a different kind of newspaper". The newspaper format will therefore be changed. He has not yet decided whether there will be a larger tabloid format or a return to the old format. A decision will be made in the coming months.
Cash losses contained
The Cash brand has not suffered despite the closure of the weekly and the free newspaper. However, it was a bitter disappointment that the free paper had to be discontinued, said Ringier. By discontinuing the print edition and cutting staff, the cost side of the business title had been reduced. "We believe that we will earn money in the medium term". Ringier did not want to know about a loss of CHF 11 million at the Cash Group. However, it was no secret that the newspaper cost a few million francs a year. However, Michael Ringier remains confident that the financial gaps can now be closed.
