Reach CEO on Brexit Concerns, Future of Newspapers

The transcript discusses the transformation of the media business amidst Brexit uncertainties. It highlights the newspaper industry's evolution since the 1960s, noting a rise in operating profit despite statutory losses. The conversation addresses Brexit's short-term risks, particularly on supply chains and advertising confidence. The future of print versus digital media is debated, with a focus on building a digital audience while maintaining print. The importance of local news is emphasized, with new digital-only newsrooms opening. Government support for local news is discussed, including collaborative efforts with the BBC.

What is one of the main challenges the media business faces due to Brexit?

• Supply chain disruptions

• Lack of government support

• Increased competition from digital platforms

• Decline in newspaper readership

How has the newspaper industry performed financially despite challenges?

• Market expectations were not met

• Operating profit decreased by 17%

• Statutory loss was completely avoided

• Operating profit increased by 17%

What is the current trend in newspaper readership?

• Print and digital readership are equal

• Total readership is at its highest

• Digital readership is declining

• Print readership is increasing

What role does local news play in communities?

• It replaces national news

• It supports democracy and community engagement

• It highlights global issues

• It focuses solely on entertainment

How is the government involved in supporting local news?

• By providing direct financial subsidies

• Through collaborative reporting schemes with the BBC

• By reducing taxes on newspapers

• By increasing regulations on digital platforms