Integrating the Newsroom at FT Paul Maidment Phil

Integrating the Newsroom at FT Paul Maidment & Phil Halliday November 15 2000

Short history • 1995: Launched as marketing site • 1996: Relaunched as editorial site • 1998: FTEP created from FT. com and proprietary electronic publishing business • 1999: Integrated newsroom established • 2000: FTIA created

Measures of success • 2 m+ registered users in 230 countries • 36 m page views, 1. 8 m unique users a month • Hot 100 site and top 10 news and finance site • Lots of industry awards – Double Eppy winner 2000 • Leading ad revenue generating site in UK

Who are our users? • Demographically similar but geographically more dispersed than newspaper • Overwhelming majority seldom or never read the newspaper • Online/print consumers more loyal to FT brand than solus users

Vision behind FT. com • Extend the editorial values of the Financial Times with the characteristics of the medium • Stick to the FT editorial last – business, the economy and all that helps explain it • Serve the FT audience – globally engaged business people –with content and services

Philosophy • Newspaper and website are complementary – Extend FT journalism beyond print`s constraints of time and space • Our product is FT journalism not a website or a newspaper – Distribution should be driven by user need not our production convenience • One news agenda, one set of editorial standards and judgements, and one newsroom

Guiding principles • Market rules still apply to content pricing – Online, everything that can be free will be • • Free to users does not mean revenue-free Content creation and aggregation is key Journalists are highly valuable New media does not kill old media, it just changes it • Competitors are not necessarily old ones

Approach • • • New formats – content and architecture Accessible, direct and tailored service Many outlets Relevant and best of breed partners Rich and deep interactivity Community of fellow spirits

First integrated newsroom • Structure – Centralised news commissioning and editing – Separate production – Pooled reporting and writing • Staff – Editors in London and New York, Asia soon – Reporters and writers around the world

Lessons • Cultural change is more important than structural change • Top-down and bottom-up driven change – Strong leadership from senior editorial management – Journalists must see personal and professional benefit • Integration must work both ways

Next steps • Integrate FT Internet Activities – FT. com – FT Market. Watch – FT Your. Money – Investors Chronicle – FT Career. Point

At the same time. . • Group portals – FT, FT Deutschland, Les Echos, Expansion • Specialist sites – FT Market. Watch, Investors Chronicle, ask. FT • Financial professional sites – IDC, e-Signal • Investment partnerships – Business. com

FT Competitive Edge • One news agenda • One set of editorial standards and judgements • One newsroom