“Adapt or die,” the often quoted phrase goes. In a fast changing world, organisations that fail to deviate from no-longer profitable strategies quickly fall behind.
No sector demonstrates that challenge more starkly over the last decade than the media industry. The rise of big tech has driven a fall in the advertising income that brands traditionally relied on, forcing many to invest heavily in moving online or towards new readership models.
One of the more successful examples of that change has been The Guardian. Its digital transition and “open journalism” approach has seen it become the UK’s second most read online newspaper brand in 2020, according to PAMCo.