The future ofbusiness journalism

@sustbusiness / #ProjectNZ

Rod.Oram@NZ2050.com / Twitter @RodOramNZ +64 21 444 839 / Kiwiki on Facebook

Rod Oram’s presentation toProject NZ, Auckland, September 3rd, 2015

• The job

• The media

• The media job

@sustbusiness / #ProjectNZ

NZ’s share of assets in infant formula value chain – 40%NZ’s share of profits in infant formula value chain – 12%

Complexity of economiesThe more diverse & complex an economy is…the richer it is

Long-term research by Harvard & MIT

http://en.wikipedia.org/wiki/Economic_complexity_index

Our rankingWe fell from 39th in the world in 2008 on the Harvard / MIT rankings

…to 52nd in 2012

People, planetVision 2050

A very challenging roadmapfor corporate development by World Business Council for Sustainable Development

Vision 2050 Global report at:

http://www.wbcsd.org/vision2050.

aspx

…NZ version too

q

We must have unprecedented scale, speed & complexity of change

Peter BakkerWorld Business Council for Sustainable Development

RevolutionLed by John Elkington and others

www.breakthroughcapitalism.com/

SBN leads in NZ

•The job

•The media

•The media job

@sustbusiness / #ProjectNZ

• Utter breakdown in existing media business models

• Starved of resources and talent

• Short of ideas, analysis and insight

• Losing egnagement with readers / listeners / viewers

• …so let’s sell them stuff and entertain them

• …let’s “co-create” with our subjects

@sustbusiness / #ProjectNZ

Travails of NZ media

• Achieve huge scale

• Generate revenues

• Invest in people and content

• Works for global brands…and big markets

• But the smaller the market, the harder it is

• NZ is a miniscule market…so it’s exceptionally hard

• NZ online subscriptions per week:

• Financial Times: $4.29 NBR: $5.50 Economist: $6.50@sustbusiness / #ProjectNZ

New media models can work to…

•The job

•The media

•The media job

@sustbusiness / #ProjectNZ

• Report and reveal

• Analyse and give insight

• Contest ideas

• Hold people accountable

• But NZ business media must have their own Breakthrough Capitalsm

• …invent radically new business models

• …lock on to sustainabiity as the future of business@sustbusiness / #ProjectNZ

The media job…hasn’t changed

“You’ll haveno future…

…if you don’tmake one

for yourself”

- Johnny Rotten