In this Duncan Edwards president and CEO of Hearst Magazines International shares his take on global expansion and how publishers must take advantage of the free web in order to monetize digital assets abroad.
In July, Edwards will take a deeper dive into these topics at the Yale Publishing Course (YPC) to reveal how Hearst has adapted to digital change while expanding its global footprint
The launch of online-only, local language brands in several new markets is part of a drive to extend Hearst's Cosmopolitan brand into markets where it does not already have a print presence.
Top on the initial target list are the Nordics and Africa. Cobus Heyl spoke to Duncan Edwards, president and CEO of Hearst Magazines International, about their plans.
Cosmopolitan will launch local language sites for Sweden, Denmark and Norway in the first quarter in 2015.
Duncan Edwards may run an enviable portfolio of magazines, including Cosmopolitan, Elle, Esquire and Harper's Bazaar, but he admits an ingrained old-school mindset has cost the publisher the digital initiative.
Faced with competition from the BuzzFeed generation of digital upstarts, Edwards, chief executive of Hearst International, delivered an edict to his magazine editors: "From months to moments".
"With the advent of mobile, smartphones and tablets, consumer expectations have changed," he says. "Some content-driven pure plays were fast to realise that was an opportunity - examples everyone uses are BuzzFeed and [fashion and beauty site] Refinery29.
Hearst Corporation and Lagardère SCA have signed a share purchase agreement for the sale of Lagardère's international magazine business.
• InStyle Publisher Lynette Harrison is stepping down from her position.