ABM to implement new strategic plan

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New York—American Business Media is developing a new strategic plan a year ahead of schedule due to the impact of the economy and broad changes in the b-to-b media industry, according to the association’s President-CEO Gordon T. Hughes II.

The plan, Hughes said, will deal in the short term with ways to help the industry fight the effects of the economic slump and in the long term with systemic changes in the industry, which include less print advertising, more online marketing and more revenue generated from content rather than advertising.

“Ultimately, the magazines are only going to be about 20% of the revenue these companies bring in, and that’s down from roughly 40% last year,” said Hughes, who expects to present the plan at the association’s Top Management Meeting in November and have it ready to implement in January.

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