Bobit Business Media CEO: “Last year was the worst year in our 49-year history.”
Skodzinski: What is the company's largest revenue segment?
Bobit: Our largest revenue segment is vehicle fleets. That is made up of car and light truck fleets, school bus, transit bus and motorcoach fleets. My father started the company with Automotive Fleet in 1961, so fleets have been our forte for nearly 50 years. We're also in the automotive aftermarket, law enforcement and physical security, and beauty segments.
Skodzinski: What percentage of your revenue currently is driven by print?
Bobit: We're currently at 68 percent. That's down three percentage points from a year ago.
Skodzinski: Where do you see that figure in two years? Five years?
Bobit: I expect we'll bring the percentage down a little every year until there's a mass exodus (from print). Who knows where technology will be in five years and how many of our print-oriented readers will make the leap to e-readers or be displaced by younger people who prefer getting their information online?
Skodzinski: What percent of your total revenue is driven by digital (Web, e-newsletters, etc.)?
Bobit: We're currently at 15 percent, up from nine percent a year ago. Online revenue is up 34 percent year over year.
Skodzinski: Where do you see that figure in two years? Five?
Bobit: We're trying to lead our advertisers into a more integrated approach. I see us being in the mid-20-percent range in two years. Five years from now we may be at 40 percent to 50 percent. The world is changing fast.
Skodzinski: You publish 20 print magazines and 29 websites. This is not entirely unusual, especially today, for Web products to outnumber print products, but can you explain why this is the case for your company?
Bobit: We have more websites than print magazine titles due to us also including our event websites in our portfolio numbers. We expect them to generate good traffic and produce revenue for us.