The Ringier Group benefited from digital marketplaces in 2023
The Ringier Group was able to slightly increase its profit in 2023 compared to the previous year despite a decline in revenue. The digital marketplaces of Switzerland's largest publishing house contributed to this, among other things.
The Ringier Group presented its annual report on Tuesday as part of the "Speak" event at Cinema Corso in Zurich. The current report for the year 2023 was designed by AA Bronson. For the realization of the publication, the artist had taken inspiration from the book published by General Idea in the 70s and 80s. File Magazine oriented. The annual report was published as Digital and print version published in German, English and French.
Solid, but "not brilliant" result
The operating profit of the Ringier media company rose to 105.5 million Swiss francs (2022: 104.9 million Swiss francs), as the Ringier Group announced on Tuesday. Ringier CEO Marc Walder commented on the result to media professionals as "solid, but not brilliant".
The digital share of operating profit reached a new record level of 83%. Sales amounted to CHF 918.9 million (2022: CHF 932.6 million).
The Ringier Group invested around CHF 100 million in digital development, according to a press release. One focus is the use of artificial intelligence (AI), both in the media and in the Group's other business areas.
Focus on AI: collaboration with Palantir
To this end, the Ringier Group has entered into a strategic partnership with the AI and data software company Palantir. Walder expects the increased use of AI to bring major benefits for the company. Among other things, a chat bot is planned on the View-website.
In the media business in Switzerland, the Ringier Group felt the same negative developments in 2023 as other media companies, such as the decline in subscriptions to paid titles.
Since last year, the View no longer offers its entire content online free of charge. Some of the content is now only available to "Blick+" subscribers. According to the annual report, 16,000 "Blick+" subscriptions were sold within the first 6 months. "I am more than satisfied with this figure," said Walder. For the first time, the decline in print subscriptions was more than compensated for by digital subscriptions.
In the longer term, Walder continues to expect major upheavals in the traditional media business. "We will probably have fewer media brands in five to ten years' time than we do today," he said. However, the company still believes in media, even if it is difficult to earn money with it.
The Ringier Group, which owns the View employed 6571 people at the end of last year (2022: 6486). The company operates around 140 companies in Switzerland, other European countries and individual African countries. (SDA/swi/bh)
