Introducing Newsweek Media Group
Newsweek Media Group
Family of Digital-First, Global Media Brands Including Newsweek, Newsweek Events and IBT Media Brands Unite Under Venerable and Trusted Newsweek Brand
New Global Outlook Positions the Company for Growth and Expansion into New Geographies and Businesses
NEW YORK, April 27, 2017 – Introducing Newsweek Media Group, the family of digital-first media brands that start and shape global conversations that matter (“Company”), which is being formed today through the reorganization of the IBT Media properties behind the iconic Newsweek brand. With its new global outlook, Newsweek Media Group, whose properties include International Business Times, iDigital Times, Latin Times, Medical Daily, the iconic Newsweek magazine and Newsweek Events, is positioned for expansion into new geographies including Asia, Africa, and the Middle East and investment for growth in current and new, complementary businesses.
The Company has taken a number of steps recently to reorganize and reorient itself around a global vision to provide consumers and business leaders with a unique perspective that maintains Newsweek’s longstanding, global reputation for integrity and trusted journalism.
The Company has globalized its operations by unifying its two editorial teams in the UK and U.S. and consolidating the newsrooms into one global operation. In addition, the Company has built a new global leadership team to guide the organization through its expansion. The new team includes Dev Pragad, Chief Executive Officer; Alan Press, President; Dayan Candappa, Chief Content Officer; Matt McAllester, Global Editor-in-Chief Newsweek; Alvaro Palacios, Global Chief Operating Officer; Greg Witham, Chief Operating Officer, EMEA and APAC; and James Karklins, Global Chief Marketing Officer.
“More than ever, there is an appetite in today’s marketplace for trusted journalism that is well respected and easy to digest. Newsweek Media Group brings objective, smart and accessible news, information and entertainment to readers across the globe in ways that very few media companies can,” said Mr. Pragad. “The agility we have as a digital newsroom combined with the trustworthiness and credibility of the Newsweek brand and our unique global perspective put us in a position to provide branded content to a growing universe of readers.”
“Whether you’re interested in news, information or entertainment, we want to help consumers and business leaders see what’s coming. With our new global team and structure and our new growth strategy to build on our unique and strong assets, we are prepared to execute on our plan to go to market as a unified, global family of digital media brands that start and shape conversations that matter,” Mr Pragad added.
Newsweek Media Group expects to invest for growth in its current properties, including the flagship Newsweek publication, where it plans to increase circulation, expand coverage in Asia, Africa and the Middle East and invest in its editorial team. The Company launched Newsweek Events, its global events business, in March 2017. The Company plans to expand Newsweek Events into the U.S. market in the coming months, and later this year will roll out new thought leadership and branded content businesses.
“Looking at the commercial side of the business, we see tremendous opportunities to diversify our revenue streams,” said Mr. Press. “We are excited by the early success of our new Newsweek Events business, and look forward to launching a thought leadership business and a branded content business to enable our advertising and corporate partners to better leverage the strength of the Newsweek Media Group brands.”
Newsweek Media Group’s family of global brands provides several unique advantages in the marketplace. The Company starts from a position of strength, having enjoyed double-digit revenue growth across the business over the past 12 months. In addition, it has a proven record of attracting and retaining the digitally native consumer. In fact, 40% of its current audience is comprised of millennials, age 18 to 34, who are interested in breaking news and lifestyle content. This is an extraordinary and valuable audience for any media organization.
Mr. Press continued: “Because we have cultivated this digital audience through their early lives, we are well-positioned to retain them and grow with them as they assume greater leadership roles, extending our conversations from the living room to the C-Suite, whether it is through our mass market Newsweek brand, our niche publications across multiple verticals or PlayerOne, one of the world’s most successful gaming sites.”
About Newsweek Media Group
Newsweek Media Group is a family of digital-first, global media brands that seek to start and shape conversations that matter. We offer an objective perspective to smart and accessible news, media and entertainment to nearly 100 million consumers and business leaders around the world. Headquartered in New York City, Newsweek Media Group owns and operates the iconic Newsweek magazine, Newsweek Events, and digital media properties including the International Business Times, iDigital Times, Latin Times, and Medical Daily. As one of the world’s only truly global media brands, Newsweek Media Group combines the proven agility of the digitally native IBT properties with the trusted integrity, known world-over, of Newsweek. Newsweek Media Group launched Newsweek Events, its global events business in March 2017. International Business Times is a digital news publication that today reaches an average of 57+ million readers each month via eight separate editions, in four languages. Market-specific editions are now available in the U.S., the UK, Australia, China, India, Italy, Japan & Singapore. Newsweek publishes a U.S. and International edition weekly in English. The international edition – branded as Newsweek International – serves the Europe, Middle-East, Africa and Asia-Pacific regions while language-specific editions are available in Japan, Korea, Latin America, Pakistan, Poland and Serbia. A separate English-language edition is also published for the Middle East. The print edition of Newsweek is now available in 68 territories while round-the-clock- coverage on the latest breaking world news can be found at newsweek.com.