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Connected world is moving in Reuters direction, says CEO Glocer

Tom Glocer, CEO of Reuters, was brimming with confidence yesterday at the analysts briefing on the interim figures which showed first-half revenue up by 9% at £1.28 billion.

Reuters believes the internet revolution will only do it good, in contrast with the print and broadcast businesses which are filled with gloom over declining audiences and the migration of advertising.

He told the analysts: ” …the world is moving in our direction: in short, because Reuters was built 155 years ago for an always-on, connected world. We have always lived on a 24 hour rolling clock. We have never had to stop the news to go to press.”

He gave them three reasons for buying Returers shares:

  • First, because of the huge transformation we have made to date (and our determination to see it through), which will continue to bear fruit in terms of better products, better service and greater efficiencies.
  • Second is because our Core Plus strategy has identified the ‘sweet spots’ in the changing financial services and media markets and is moving Reuters to capitalise upon them.
  • And, third is because the world is changing in a way that makes Reuters unique assets more valuable than ever.”

What many in the media industry see as threats, Glocer saw as opportunities, saying:

In Media, the advent of user-generated content plays to our long history of aggregation and customer contribution.
The cacophony of the blogosphere highlights the value of a trusted, no-spin brand.
The globalisation of the internet confirms the relevance of reporting in 19 languages and the convergence of broadcast television and the internet raises the value of our 24-hour multi-media publishing skills.

The transcript of the analysts briefing and the interim results are on the Reuters site. Well worth reading by those who are gloomy about the future of journalism.


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