Hearst Looks Back on Record-Breaking Year in Its 2014 Annual Review
Today Hearst announced the release of its annual review, dubbed Hearst Annual Review 2014: Convergence 24/7. The beautifully designed online publication captures the merging of Hearst's diverse multimedia properties, from newspapers to film and magazines. It reiterates the success that Hearst president and CEO Steven Swartz indicated in his annual letter to employees last month, noting that Hearst has achieved record revenue and profit for the fourth straight year. The review highlights four areas of convergence within Hearst's organization: content, entertainment, marketing, and care guidance.
Hearst is connecting its content through impressive digital initiatives around a new content management system (CMS). Serving the umbrella group Hearst Magazines Digital Media (HMDM), the CMS allows all of Hearst's digital brands to create and publish content within seconds and respond to reader data as it is received.
"July's introduction of the new Cosmopolitan.com -- HMDM's biggest U.S. brand, with more than 30 million unique views per month -- was the 'first step' toward making the company's global mindset a working reality," said HMDM President Troy Young. "The goal of our 'months-to-moments' strategy, embodied by our new platform, is to provide users with sharable content. Cosmopolitan.com was the first site to benefit from the changes and upgrades to what will become a global Hearst Magazines platform."
Publishing Executive also covered an aspect of Hearst's content convergence. In our October 2014 issue, we interviewed VP of data Rick McFarland and learned how he is merging data across Hearst brands. By centrally storing data culled from Hearst magazines, newspapers, and video products, McFarland can create tools that help his colleagues make better decisions about the content they create.
Investing in Video
Additionally, the annual review highlighted Hearst's efforts in the realm of entertainment. In September Hearst, in partnership with MGM, launched United Artists Media Group, which develops, produces, and finances video content across all platforms. The brand is creating television programs, movies, and digital video. Future projects include a spin-off of popular TV show Shark Tank and a global television channel targeted at a faith-based audience.