Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

The BoF Podcast: John Ridding and David Pemsel on Reinventing Old Media for a New Media World

The news media business is in crisis, but the chief executives of the Financial Times and Guardian say their models prove people value quality journalism in a world of fake news and political polarisation.
David Pemsel and John Ridding on stage during #BoFVOICES | Source: Getty Images for The Business of Fashion
The author has shared a Podcast.You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future.

OXFORDSHIRE, United Kingdom — The rise of technology platforms and the decline of advertising revenue have put tremendous pressure on the news media business, but momentum at both the Financial Times and the Guardian newspaper groups prove that readers value quality journalism even more in a world of fake news and political polarisation.

So said Financial Times Group chief executive John Ridding and Guardian Media Group chief executive David Pemsel as they took the stage at VOICES, BoF's annual gathering for big thinkers, for a conversation with BoF's chief correspondent Lauren Sherman.

Three factors — the decline of advertising revenue; the rise of societal discord and political polarisation; and the growing demand for trusted news sources — have created both challenges and opportunities for publishers. “You can’t imagine the contradictions of those three spheres all happening at the same time,” Ridding said.

Both the Financial Times and the Guardian have found success by convincing readers to pay for their content, a strategy that many media brands are trying to adopt in the face of declining ad sales. Looking ahead, both Ridding and Pemsel said audio was the next frontier and a powerful pathway for attracting an audience. “It’s more personal … and I think people appreciate that,” said Ridding. “People want time to reflect and not just be inundated with what’s breaking right now,” added Pemsel.

ADVERTISEMENT

To subscribe to the BoF Podcast, please follow this link.

Subscribe to BoF Professional for unlimited access to BoF articles, plus exclusive benefits for members.

To contact The Business of Fashion with comments, questions, or speaker ideas please e-mail podcast@businessoffashion.com.

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Media
How fashion media is adapting its approach to content, platforms and business models.

BoF is One of the World’s Most Innovative Companies of 2024

Fast Company has named The Business of Fashion one of the ‘world’s most innovative companies’ for a second time for demonstrating ‘how a media brand can leverage AI to add reader value rather than erode trust with AI-written news articles.’


Is the TikTok Fashion Boom Already Over?

The ByteDance-owned app has big ambitions to be an e-commerce player in league with Amazon with influence in fashion on par with Instagram. Now it’s facing new threats — both from outside and within.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The Business of Beauty Global Awards - Deadline 30 April 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
The Business of Beauty Global Awards - Deadline 30 April 2024