Farm Journal Media: Behind Its Growth in Print, Digital, Events and More
Skodzinski: To what do you attribute that?
Weber: Well, the Ag[griculture] Market was strong in 2010; I estimate the spend was up 7 percent to 8 percent in the market. That said, more than 80 percent of our growth in 2010 came from totally new products, programs and services that we developed organically since 2008. It's our lifeblood. We have an incredibly talented senior management team that works seamlessly as a team in the market. They run their individual businesses extremely well, and are prolific at new product development and line extensions. Their talent has enabled me to get out of day-to-day and focus most of my time on breakout growth activities such as our advocacy platforms.
Skodzinski: What is the company's largest revenue segment?
Weber: Print and digital are about even at between 30 percent (digital) and 35 percent (print).
Skodzinski: Where do you see that figure in two years? Five years?
Weber: We have enough visibility over the next two years to suggest that our print will keep pace with the overall business and will remain about a third of the business. I do see print slowly representing a smaller percentage of our business over the long-haul, but I see our print business continuing to grow measurably in revenue in the foreseeable future. Our print market was cut in half in spending in the last decade, yet we grew our print revenues slightly in that environment. We're obviously experiencing strong growth now.
Skodzinski: What percent of your total revenue is driven by digital (Web, e-newsletters, etc.)?
Weber: Separating TV out of Digital—which is getting harder and harder to do because of convergence—we've budgeted pure Internet to represent nearly 18 percent of our business in 2011. We're currently at 15 percent, up from nine percent a year ago. Online revenue is up 34 percent year over year.