Matthew Stanton, a former CEO of magazine group Bauer Media and a senior executive at Woolworths, is the next head of King Content, media monitor company iSentia’s underperforming content marketing business.
iSentia’s share price has taken a hammering since the company in November warned of weak first half earnings due to problems with its content marketing arm. The shares closed at $2.71 yesterday, down from a 12-month high of $4.77.
Stanton joins Isentia next month after a year as chief transformation officer at supermarket group Woolworths. He was the CEO of ACP Magazines from 2011 and Bauer Media Group’s chief executive following its acquisition of ACP in 2012.
“Unlike some agencies which are now pivoting to provide content solutions, King Content was built with this aim in mind, which is why our content marketing achieves exceptional results,” he says.
“With a strong heritage in best-in-class content marketing and sophisticated media intelligence, we are well placed to drive significant growth for our clients. While many agencies can speak of their impact, we’re the only business that can show it.”
John Croll, CEO of Isentia, says Stanton has a record in building and transforming media organisations.
“Matthew has been a pioneer in the media industry, effectively rebuilding traditional organisations disrupted by the digital evolution to create new multi-platform revenue streams,” Croll says.
Andrew Meagher, a former Thomson Reuters senior executive who has been interim CEO of King Content since October, will stay with the business for several months to ensure a smooth leadership transition.
iSentia bought King Content last year from founder and CEO Craig Hodges in a deal worth $48 million, depending on hitting a number of targets over five years.
In 2016, content marketing represented 7% of iSentia’s earnings but the business lost revenue momentum this financial year due to poor decisions on strategy, business development and client retention.
The company is forecasting a content marketing EBITDA (earnings before interest, tax, depreciation and amortisation) loss of about $2 million in the first half of 2017.
Overall, iSentia posted a 23% increase in revenue to $156 million for 2016. Underlying net profit after tax was up 16% to $33 million.