“Since Exor became the majority shareholder in 2020, the focus of the media company has moved towards digital, a more suitable solution for its national publications. As a result, almost all the local newspapers were sold, the latest being Il Secolo XIX”, explains Exor CEO John Elkann in the letter to shareholders. And he explains what the next moves will be. “Today, Gedi’s news strategy is centered on The Republic And The printtwo of the main newspapers in Italy, whose significant print presence is complemented by a growing digital offering. Let’s keep believing in the importance of reliable and quality journalism, especially in a world where it’s sometimes hard to trust what we read. This is crucial as we form our opinions and, for this reason, we must never lose independent journalism, which remains faithful to the identity and values of the newspapers and the readers to which it is addressed, and not to the interests of those who own them”.
Exor, profit stable at 4.2 billion and 100 million in dividend
by Diego Longhin
April 11, 2024
With respect to the performances of the newspapers, Elkann underlines that there are various initiatives that are “contributing to carrying out Gedi’s digital transformation, with tangible results. On average, Gedi reaches 4.7 million unique users per day across its websites, ranking first among News publishers in Italy. The number of digital subscribers has grown by double digits every year since we acquired Gedi, with an increase of 50% in 2023. Revenues digital are now above 125 million, or 26% of total revenues. Gedi’s entertainment sector is also showing positive signs: “Radio Deejay reaches an average of 5.5 million listeners every day. This makes it the third most followed radio station in Italy and the largest in terms of social media presence with 1.2 million followers on Instagram.” No other Italian radio has more than 1 million. And OnePodcast now has 170 original productions, with 17 million streams per month in 2023.
