According to Clark Gilbert, a Harvard Business School professor and former chief executive of Deseret Media, news publishing companies must split their digital and print operations in order to thrive in the digital age.
In Gilbert's thinking, this implies to conduct two transformations: the evolution of your legacy business and a new business that encompasses, beyond just digital advertising, e-commerce, marketplace services, digital consulting and other emerging revenue streams in which tablets, mobile and social are integral parts.
Scott Anthony, a managing partner at the Singapore-based Innosight consulting firm, recently co-authored Dual Transformation a book which proposes a practical and sustainable approach for transforming one's business in the face of imminent disruption - with Gilbert.
And at Digital Media Asia 2016 in Singapore next week, Anthony (pictured) will explain how nimble companies can come out of a market shift stronger and more profitable. Chris Lee, the chief executive of Deseret Digital Media, played a crucial role in Deseret Media's much commented transformation. He will take a half-day on November 8 to share with a reduced group of media executives how the Dual Transformation philosophy has been implemented at Deseret. He will also comment during his DMA's opening keynote presentation, how his local media company has embraced a mobile-first digital model which has allowed Deseret to successfully face disruption.
Asian companies such as MediaCorp - Singapore's leading broadcasting company - have taken inspiration from the Dual Transformation model. Guillaume Sachet, head of strategic planning at MediaCorp, will present the multimedia broadcasting group's journey through digital transformation at DMA, with some insights on its latest digital strategic orientations.
Dates for the Digital Media Asia 2016 conference are November 8-10 in Singapore. It will feature close to 30 speakers from around the world and gather more than 200 media executives from 23 different countries.