The Future Of News
Background 1997 - Moved to US from India to study journalism 2006 - Completed my MBA at Wharton 2008 - Moved to Sydney with Booz Allen Hamilton 2010 - Joined Fairfax Media as Head of Digital Strategy 2011 - Led restructure to combine print and digital operations 2012 - Set up precursor to Stan - smh.tv 2013 - Launched online subs for SMH and Age 2014 - Founded inkl, a new marketplace for news 2015 - Launched inkl’s iOS and Android apps 2016 - Sold inkl to our first hotel client 2017 - Launched inklpay for publishers 2018 - Launching inklX on the blockchain 2
We provide the world’s best news solutions for the paid era 3
For consumers 1. Lead the market inkl unlocks the world’ inkl unlocks the world’s best news sour s best news sources ces No paywalls. No ads. No clickbait No paywalls. No ads. No clickbait inkl is fast, convenient, and unlocks $2,000+ of news content 9 4
For hotels The world’s best hotel guest news service PREFERRED HOTEL NEWS SUPPLIER PREFERRED HOTEL NEWS SUPPLIER inkl is 60% cheaper, faster, and easier for hotels to offer guests than the next best alterna:ve Improving Green Reducing Improving Green Costs Credentials Extremely cost effective inkl helps to Ext from 1 USD per room • 3 year agreement with inkl decrease paper per month consumption • Established in 2001 by Hyatt, Marriott, IHG • Portfolio of 9,900 hotels, 1.4m hotel rooms • $5Bn of annual spend • Recently acquired by Aramark l Understanding Elevating Hotel Guest Habits Promotions c View real-time, market- Add hotel-specific e leading anonymised promotions with the guest usage guest news feed 5
For publishers inklpay - the world’ inklpay - the world’s most versatile consumer r s most versatile consumer revenue tool evenue tool HELPING PUBLISHERS GROW P HELPING PUBLISHERS GROW PAID NEWS AID NEWS Fast, easy, versa+le and inexpensive for publishers to use $ $ $ $ $ $ $ $ Memberships Memberships Cr Crowd-funding owd-funding Donations Donations Micr Micropayments opayments Paywalls Paywalls 6
“Information wants to be free.” Stuart Brand, 1984 7
An epic misquotation… “On the one hand information wants to be expensive, because it's so valuable. The right information in the right place just changes your life. On the other hand, information wants to be free , because the cost of getting it out is getting lower and lower all the time. So you have these two fighting against each other.” Stuart Brand, founder of the Whole Earth Catalog 1984, The First Hackers Conference 8
With tragic consequences 9
The economic fallout for publishers Value per reader has dropped by 99%! $200 $20 $2 10
The utopian idea of free news has spawned a mad race to see who can capture the greatest amount of your time. 11
A more accurate quote With the benefit of hindsight Misinformation wants to be free. Information wants to be valued. 12
We are at an inflection point THE DISRUPTION OF FREE NEWS IS ACCELERA THE DISRUPTION OF FREE NEWS IS ACCELERATING TING 2018 WILL BE A PIVOT 2018 WILL BE A PIVOTAL YEAR FOR FREE NEWS AL YEAR FOR FREE NEWS • Facebook is cutting • Google is adding an ad- • Amazon is entering news distribution blocker to Chrome the ad business • It is increasingly • It will also let users ‘mute • Its purchase data is focusing on video targeted ads’ on the web an even bigger threat https://youtu.be/9rLa0kRY4C4 13
The benefit for readers Paid news offers a path through the noise and chaos The basis for A signal of Harder to exchange quality subvert 14
Our thesis In paid markets, marketplaces win Marketplaces deliver superior choice , value and convenience 15
Our vision PAID NEWS WILL GROW FROM $1B TO $50B AID NEWS WILL GROW FROM $1B TO $50B Current buyers AND MARKETPLACES WILL WIN AND MARKETPLACES WILL WIN <10M Good content. Great experiences. ExcepFonal value. No ads. 110M BUYERS MKT. VALUE MKT. CAP Potential buyers 225M $150B $60B 100M $25B $8.5B 420M Regular news readers (in developed markets) 110M $50B ? 16
Our plan CREA CREATING THE FUTURE OF NEWS TING THE FUTURE OF NEWS 2. Accelerate 3. Accelerate 4. Create short- 1. Lead the market demand growth supply growth term incentives Create the best paid Increase penetration Make publishers Provide liquidity and news product for through B2B more successful with incentives to customers channels paid news accelerate growth EXISTING TRACTION AND EXECUTION MA EXISTING TRACTION AND EXECUTION MATURITY TURITY 17
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