NZME confirms Google agreements to support digital transformation
AUCKLAND, 22 June 2022: NZME Limited (NZX: NZM, ASX: NZM) (“NZME”) has today announced that it has concluded negotiations with Google on agreements to support a number of digital transformation initiatives, which commenced following the signing of a Letter of Intent in March this year.
The new partnership means NZME will supply content to Google News Showcase when it officially launches in New Zealand, with selected material from NZME’s national, regional and community publications published via the product. Google News Showcase is a product where publishers, like NZME, curate content to extend their reach to audiences locally and globally.
NZME Chief Executive Michael Boggs says the Google agreements support NZME’s strong focus on digital transformation, and further demonstrates the value of NZME’s high quality journalism and news content.
“We are pleased to have signed these agreements with Google and to be able to now progress these digital transformation projects and initiatives. NZME’s 300 editorial staff in our newsrooms across the country work tirelessly every day to provide high quality, trusted news content across our many platforms. Being able to further extend their reach, highlight their talent and share their content through Google News Showcase is a really positive development.
“Not only will this new partnership with Google help further bolster digital growth across our business and increase our audience reach across our platforms, it will also increase digital revenue growth and enhance our digital subscriptions business,” he says.
Caroline Rainsford, Google New Zealand Country Director says: “These agreements build on years of partnership between NZME and Google and we look forward to engaging on initiatives that further the digital transformation of NZME’s business and promote original, trusted journalism across NZME’s digital titles. For two decades our programmes, funding and expertise in digital have supported the local news industry, and we look forward to continuing this important work in New Zealand.”
NZME’s outlook takes into account this commercial arrangement and remains the same at $67-72 million. The agreements are for a term of five years.
ENDS
Authorised by: Michael Boggs, Chief Executive Officer