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ANNUAL REPORT 201410OVERVIEW:2014 was a challenging year for our Company. The heavy advertising demand experienced in 2013, largely fuelled by 4 elections campaigns, was followed by an insipid 1st Quarter in 2014. In an effort to grow revenue in this challenging environment we made significant investments in content and programming development, principal of which was the acquisition of CPL cricket rights. We also continued our investment in talent and technology. Whilst these expenditures negatively impacted our operating costs and PBT they lay the foundation for future organic growth, and align with our strategic plans. We recognize the need to rationalize escalating operating costs, and have already implemented several measures which are showing positive results. This will continue to be a key thrust of our strategic contemplation. The investments made in equipment and new business development in radio and television, new media in print, and talent and content across all three divisions assures us of greater competitiveness and profitability in the years ahead.TECHNOLOGY:In keeping with the continuing growth and expansion of internet technologies, and in line with global trends, we have been charting our transition from the traditional media space to the digital domain, and substantial progress was made in this regard in 2014. The challenge, however, for all media companies, as is for us, is the monetization of digital products and services commensurate with resource allocation. Notwithstanding this challenge, to which we are responding with measured strategies, we have continued to invest in infrastructure, talent, and products that will ensure our future relevance, survival, and growth. In 2014 we became the first media company in T&T to launch a digital paper that can be hot linked to client%u2019s web sites, e-mail, and video ads. Today over 50,000 persons read the digital Guardian, and over 1 million persons access our multi media services via the web, social media, or with apps on their traditional and ubiquitous mobile devices.Our radio and television arms are progressively being positioned on the bleeding edge of technology in order to fulfill the changing needs of the modern viewer and listener. Using the latest internet streaming technologies we are able to broadcast live andpre-recorded programmes to a wider international audience, changing the manner in which television and radio output is consumed. Our television and radio also operate on fully integrated digital platforms and extensive and growing use is being made of a myriad of social media channels to interact with our viewers and listeners and to disseminate selected content.Transitioning to the digital domain is inevitable, and our business plans and strategies are aligned to this reality. As high speed internet technologies becomes more accessible in T&T, GML remains prepared, equipped, and focused on continuing its investments in new digital products and services that will propel our Company into becoming a modern, cutting edge, digital media entity.REPORTOF THE CHAIRMAN