SPH Sales And Marketing Teams Undergo Restructure
SPH continues to feel the heat.
In their second consolidation effort in just nine months, SPH have recently announced that they are folding their Custom Content Solutions department, a move that will see the departments headcount down from 379 to just 300.
The move comes after a tough couple of years for the Singaporean media giant, and after Singapore Airlines recently ended their 15 year partnership with the company, moving in-flight magazine, SilverKris, over to Ink. Last year the company reported that advertising losses had fallen by $24.5 million year on year, a drop that seemingly affected other major departments within SPH.
With advertising at an all-time low, their editorial departments have launched a "refocused digital development division" led by Joseph Lee in a bid to help boost their digital revenues. Talking of the move, SPH Magazines Chief Executive Office, Loh Yew Seng said: “Our investments in digital capabilities and assets over the last five years are paying off. Our digital products are showing consistent growth, despite the severely challenged media market. We will continue to expand our digital network and also roll out innovative advertising solutions. We are also investing further in analytics and our developer resources. We believe that our magazines have a viable future as a digitally-driven business, with a diversified portfolio of strong brands that are market leaders in their respective genres. The key is to remain the No. 1 network in the digital space, in terms of audience reach and engagement for advertisers.”