As media companies continue to grapple with a changing business model landscape, as revenues decline and audiences migrate online, the importance of finding new and fiscally sound ways of serving readers continues to grow.
In some cases, this means publishers are trying things that not so long ago would be unthinkable–like team with a rival on a joint venture. Today, Rogers Publishing and the Globe and Mail announced such a deal that brings the two media heavyweights together with HSBC Bank Canada for a new international business editorial initiative called Business Without Borders.
The publishing partnership, sponsored by HSBC, includes a joint standalone website at BWOB.ca, as well as content from the Globe and Mail‘s Report on Business and ROB magazine, Rogers’ Canadian Business, Maclean’s and Profit magazines, with an aim to provide the business community with expert information for expanding outside of Canada.
“It was about trying to find a way to establish HSBC in Canada as the bank for international business,” said Euan Campbell, senior vice-president, marketing and products, HSBC Bank Canada. “In our research, we’ve found when companies are looking to expand in the international market for the first time there is uncertainty, trepidation and a huge lack of information. So part of this is providing content and information, insight and knowledge to these companies.”
The partnership between the Globe‘s Report on Business and Rogers’ business publications is unprecedented for both companies, but each sees the value of such a team effort.
“We’re not merging newsrooms, but in a broad sense the project involves a very high level of cooperation and communication so that stories from Report on Business, Canadian Business and Profit can come together on the Business Without Borders website and yield a rich resource of ideas and advice that will be of use to business leaders,” said Canadian Business editor and associate publisher Steve Maich.
“This program is designed to provide a road map, offering not only inspiring examples of Canadian entrepreneurs in action, but also advice and insights on how best to expand your business abroad,” said Noel Hulsman, the Globe and Mail‘s custom content manager said.
Financial details of the media buy were not disclosed. The editorial portion of the project is set to run for one year, with an option to expand up to three years. The BWOB.ca site is the hub for all the various contributions, and HSBC’s Campbell said it will evolve to include more multimedia offerings, such as audio and video.
Media watchers may surprised at the lack of overt branding across the editorial offering. The only hint that HSBC is the primary sponsor of an eight-page Business Without Borders section in the July 19 issue of Canadian Business is a one-page ad preceding the section. At BWOB.ca, a small HSBC logo at the top of the page is the brand’s sole stamp of ownership. According to Maich, that’s no accident.
“HSBC was very clear upfront that they wanted this to be an editorial undertaking and they didn’t want anyone coming to the print publications or the website and thinking it was just an HSBC promo,” said Maich. “What they were keen to get is high-quality, independent journalism on this topic. They know the audience they’re after wants to read real stories, providing real insights. They don’t want thinly veiled sales pitches masquerading as editorial.”
The program also features a series of seminars and events across the country, including the HSBC Business Without Borders International Business Awards, to acknowledge Canadian companies with international business success and inspire other Canadian businesses to explore global opportunities.
