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Hotwire Headlines #61

Hotwire Australia

What is holding CMOs back from progressing on the journey of digital transformation?

In recent news, the ACCC calls for feedback on rules and regulations to wrangle large digital players, while regional news hearings are set to determine further potential masthead closures despite total news readership increasing. Meanwhile, we look at what is holding marketers back on their digital transformation journey, and the hidden cost of pitching.

ACCC calls for feedback on new rules and regulations for large digital players

Latest Digital Platform Services Inquiry discussion paper explores what rules, access regimes, codes of conduct and legislative reforms are needed to curb digital platform giants.

The Australian Competition and Consumer Commission (ACCC) is seeking feedback on a new discussion paper looking at legislative reforms, rules, codes of conduct and access regimes that could directly address the market dominance of digital platform giants.

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Regional news hearing signals potential masthead closures

The House of Representatives Standing Committee on Communications and the Arts began its public hearings on the adequacy of regional news yesterday, 28 February, with both Australian Community Media (ACM) and Seven West Media’s (SWM) West Australian flagging potential masthead closures and job losses for regional newspapers without government intervention.

ACM, whose mastheads include The Canberra Times, Newcastle Herald and Bendigo Advertiser among others, managing director Tony Kendall said that although the News Media Bargaining Code (the Code) had been helpful to ACM’s revenue, it accounted for 5% of ACM’s total revenue.

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Total News readership increases in all states, reaches 97% of adult population

Total News readership was up 0.9% for the 12 months to December with growth in all Australian states and territories.

The latest Total News readership shows news is holding strong with 20.4 million Australians consuming news in a four-week period.

Readership has grown in all states and territories up 1.8% Western Australia and 1.1% in Queensland while digital news maintains its position of strength with readership of 19.3 million, up 1.5% compared to the same period last year.

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Study: Only 11% of CMOs Say They’ve Completed the Digital Transformation Journey

Independent global media advisors MediaSense has launched its latest digital transformation research study, Media 2025, revealing a noticeable maturing of the industry as brands seek greater simplification and integration across their ecosystem.

Omnichannel is the order of the day but too many brand organisations are held back on their digital transformation journey by internal silos, incompatible technologies, inadequate data and critically, talent. 

Just 11 per cent of global CMOs are confident that they have completed their digital transformation journey.

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Industry bodies partner with Ouch Factor Survey to uncover hidden cost of pitching

The Ouch Factor Survey has returned for a second year, calling for submissions from Australian agency leaders and marketers about their pitching experiences, with the info to be used to calculate the hidden cost of pitching for both sides.

It found the average agency spent 175 hours on each pitch and 1913 total hours a year pitching, which equated to an investment of $100,000 in unbillable hours before even winning a sales pitch. On the procurement end, 125 hours were invested on the average pitch process.

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