B2B publisher Reed withdraws from construction sector
Reed Business Information has withdrawn from the construction B2B publishing market in Australia as part of a restructure of its operations which has seen around 14 redundancies.
In an email to advertisers on Friday afternoon citing a global restructure, the company said:
“The decision to exit the construction B2B publishing market was based on the commercial viability of the magazines and websites we have in this sector. The changes we have made will allow us to focus resources and expertise on our other online and offline brands in the manufacturing, engineering and building markets.”
The company has closed Construction Contractor magazine, which focused on civil contruction and structural engineering and will also close its sister website. The March edition of Construction Contractor, which had already been printed, will be the last.
RBI will also stop adding new content to various websites and newsletters associated with construction including Cranelift.com.au. Earthmovingnews.com.au and Roadconstruct.com.au.
Other magazines affected include Electronic News and Food Magazine which will both move from monthly to every other month.
In the email to advertisers, Jamie Wade, associate publisher of the products division said: “With changing market and media landscapes, we have identified more timely and efficient ways to deliver content to our readers through our twice-weekly newsletters and across our complementary websites. For this reason, the magazines are better placed as a bi-monthly digest to complement the ongoing electronic and food manufacturing news services we offer. These moves allow us to provide an unparalleled and multi-channel offering that builds on our strong portfolio of websites, enewsletters, and awards programs.”
Part of RBI’s changes represent a step back from its “Thousand Ships” strategy, which saw it create a large number of sites around tight verticals in the hope that highly focused, keyword-friendly content would deliver advertisers wishing to reach narrow niches.
At the end of last year, Reed sold screen industry magazine Encore to Focal Attractions, the publisher of Mumbrella. RBI also publishes marketing industry title B&T which was unaffected by last week’s changes although it has previously lost staff during the media downturn, as have other titles.
Reed’s most high profile publications include Australian Doctor and New Scientist.
The Media Alliance told its members that eight journalists were among the cuts at RBI, “a 12% staff cut from the pool of 67 journalists”.
In the UK, parent company Reed Elsevier said a few days ago that pretax profits were down by 29% for the year and that it was looking to sell some of its titles.
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In b2b publishing the print space is becoming increasingly challenging. Online provides a far more targeted and measurable medium, and sites like IndustrySearch.com.au are increasing market share in some of these core b2b categories.
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Whilst sites like Industrysearch might be increasing market share sites like Ferret.com.au are established, accountable and already working very well for advertisers in the industrial, manufacturing and mining sectors.
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The big concern is the lack of honesty and clarity reed and its online divison “Catch” have with staff. Decisions are being made months before the poor sodds are “boned” and 20 plus people are left to fight for a handful of jobs. Double slap in the face in return for their years of loyalty. Big lesson in life. If you think they return your loyalty with loyalty then you are screwed.
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