Could the Crisis be an Oportunity for Media Groups?

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Media groups all over the world are feeling the pinch. Almost everything is going down: advertising incomes, profits, share’s prices, circulation figures, size of staffs, managers’ expectations…

In periods of prosperity it is not easy to discover companies’ failures because profits usualy hide managers’ mistakes. But now the crisis has helped us to identify some strategic errors: most part of media groups have been short term oriented, have take to much financial risk, have been obsessed with maximizing profits and increasing size, have had weak editorial projects, and have not paid enough dedication to motivate their teams.

The crisis remind us that good management requires strong leadership, a culture of innovation, balance between short term focus and long term goals, a highly motivated team, good understanding of new technologies, the ability to protect brands’ value and a coherent editorial project.

Companies can not avoid the crisis -which is deep, long and almost universal- but at least can learn from it.

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