|VG MEDIA HOUSE (NOK million)||2010||2009
|Advertising revenues, print
|Other operating revenues
|Total operating revenues
|Operating profit (EBITA)
|Operating margin (EBITA) (%)
In a demanding newspaper markert VG has in part managed to compensate for the fall in circulation through price increases. Advertising revenues in the VG media house were good in 2010.
The VG media house publishes Norway's biggest-selling newspaper, VG, publishes on vg.no, Norway’s biggest website, publishes Norway’s biggest personal finance magazine (Dine Penger) and operates E24 Næringsliv, Norway’s most-visited website for business and financial news.
VG's average daily circulation in 2010 was 233,295 (-11%).
Total advertising revenues in the VG media house increased by 8 per cent compared to 2009. Advertising revenues for print were NOK 418 million (9%). Online revenues (VG Multimedia) amounted to NOK 295 million (-3%).
Profitability measures continued to be important to the VG media house in 2010. Work on various measures aiming to reduce the cost base is ongoing, as well as making it more flexible. It was decided that the administrative functions IT and finance should be coordinated within Schibsted.
VG shall be perceived as Norway’s leading provider of news, entertainment and other current interest information, 24 hours a day. Through various channels (print/online/mobile) VG reaches more than 50 per cent of the Norwegian population over the age of 12 on a daily basis. In the age group 20-39 VG reaches nearly 62 per cent of the population every day. The media house develops and provides advertisers with exciting and attractive solutions that combine print, online, tablet computers and mobile.
VG Nett has established a position as Norway’s biggest and most important online news sites and has increased traffic volumes over several years through solid coverage of news, sports, entertainment and consumer material. At the same time, VG Nett provides a high degree of interactivity through various tools for user involvement. The best example of this in 2010 was VG Nett’s Haikesentralen (Hitchhiker’s Exchange), which helped ash-bound Norwegians find alternative means of transport during the volcanic eruption.
- Ongoing product development of both online and print products.
- Development of a club concept and online payment solutions.
- Relaunch of VG Helg (weekend section) of the print edition.
- VGTV intensified commitment to entertainment series.
- Mobile was made a separate focus area in a separate company.
- Launch of VG+, the VG media house’s iPad product, in December.
FIRST QUARTER 2011
- VG AS and VG Multimedia AS were merged with accounting and taxable effect on 1 January 2011. New organization.
- Bernt Olufssen left his position as Editor-in-Chief. Torry Pedersen took over the dual positions of CEO and Editor-in-Chief.
- Successful merger of the analogue and digital organizations. More effective production, stronger editorial impact and greater employee satisfaction.
- Develop and strengthen our leading digital positions, irrespective of platform. Increase revenues from digital activities.
- Increase market shares in the advertising market for all platforms.
- Achieve optimal positioning of products in an increasingly complex environment for media consumption.
- Develop VG’s magazines.