NewBay Media: Quiet Giant With a Resounding Plan for Growth
NewBay Media could be called something of a quiet giant. It doesn't keep a particularly high profile in the industry, and many may not be familiar with its name. You probably recognize some of its publications and events as competitors, or perhaps you read some of the company's more popular consumer publications in the music industry. But what you may not realize is that the New York-based company reaches more than 3 million readers in print, as well as 1 million online and in person in more than 100 countries.
It publishes and produces more than 40 b-to-b and consumer publications—such as Radio World International, Television Broadcast, Guitar Player, Bass Player, and Tech & Learning—and show dailies, as well as 50 websites, 30 daily and weekly e-newsletters, several expos, and more than 50 custom publishing efforts annually. The privately held company (owned by The Wicks Group) is one of the world's largest media and information resources for professionals, retailers and enthusiasts within the Pro Audio, Broadcast & Video, Musical Instruments, AV/Consumer Electronics and K-12 Education vertical markets.
At the helm of the company is CEO Steve Palm, who joined NewBay in 2007, less than a year after the company was launched with the acquisition of select assets from CMP Entertainment Media, including Pro Sound News, System Contractor News and Guitar Player. In the past few years, he has steered the quiet giant through additional acquisitions—in July 2007, it acquired IMAS Publishing Group, including Television Technology, Radio World and Pro Audio Review, and last year, it acquired Broadcasting & Cable, Multichannel News, and This Week in Consumer Electronics (TWICE) from the floundering Reed Business Information-US.
Palm continues to drive the company's amassed products forward, including its print publications. In fact, he has been an advocate for the power of print, which he expects to continue to grow and "be very profitable" not only for NewBay, but for many publishers "for many, many years," even as the industry, and his company, continues to become increasingly multiplatform.
Here, Palm shares behind-the-scenes details about NewBay's various revenue sources, plans for investment and growth, what drives the company's processes and decisions, and his views on the industry's future.
THE REVENUE PICTURE
Noelle Skodzinski: What is NewBay's fastest-growing revenue segment?
Steve Palm: From a percentage standpoint, online. From a real dollar perspective, print.
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