Major upheavals and new market conditions are sweeping over the Danish media industry these years. And North Jutland’s largest media group, Det Nordjyske Mediehus, feels it too.
In a new account for 2023, Det Nordjyske Mediehus realizes a deficit before financial items of almost DKK 25 million. The result is negatively affected by a number of extraordinary costs, among other things in connection with resignations in the autumn of 2023.
Revenue fell by almost six percent to DKK 613 million. The year’s result following tax ended with a deficit of DKK 16.4 million.
– It is as expected and, given the circumstances, satisfactory in a year in which, in particular, the primary income streams from print marketing have fallen significantly. We have control over operations under extreme market conditions and have even been able to bear significant additional costs, says CEO Morten Vinther Jensen.
The ambition is unchanged
He emphasizes that the ambition for the North Jutland Media House – despite the negative macroeconomic trends – is unchanged.
Most recently, Det Nordjyske Mediehus has, among other things, launched a new strategy for its media activities. The overriding purpose is to create a long-term financially sustainable media company independent of print products.
– We do not see that the trend is turning in favor of print marketing – quite the opposite. And that’s why we don’t want to silently watch our business foundations be eroded. We want to release all forces in the digital transformation. This is to ensure that we are also relevant for the people of North Jutland in the future by being able to offer world-class independent journalism as well as being on target for North Jutland, says Morten Vinther Jensen.
In the area of distribution, Det Nordjuyske Mediehus has managed to raise earnings in the financial year 2023 – despite falling volumes. As a result, distribution significantly exceeded the original expectations for the year.
Subsidiary with growing pains
And in the subsidiary company Nordiske Medier, which publishes a large number of business media primarily in Denmark and Sweden, it has succeeded in raising income from both subscriptions and memberships.
Nordiske Medier now accounts for 40 percent of the total revenue in the Nord Jutland Mediehus Group. By comparison, the figure was 28 percent back in 2019.
At the same time, Nordiske Medier continues to invest in both organization and new niche media. Most recently, Story House Egmont has been bought out of the ownership of the company Nordiske Fagmedier, which is behind a number of print and online specialist media in Norway.
Now Nordiske Medier is the sole owner and thus a significant player on the B2B market throughout Scandinavia.
In the current financial year, Det Nordjyske Mediehus Group expects an operating result in the range of minus DKK 10 million to plus DKK 10 million. This is due to a continued decline in revenue streams from marketing and content revenue from print.
The Nordjyske Mediehus Group deals with online activities, local newspapers, daily newspapers, radio and distribution both locally, nationally and in Scandinavia. Best known is the news brand Nordjyske, but also the radio channel ANR, Radio Nordjyske and a large number of local newspapers.
Det Nordjutske Mediehus is one of North Jutland’s largest workplaces with over 600 permanent employees.
2024-02-15 13:16:07
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