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E.W. Scripps SWOT & PESTLE Analysis

ID : 52695453| Sep 2020| 13 pages

COMPANY PROFILE -E.W. Scripps

Business Sector :Media and Entertainment

Operating Geography :United States, North America

About E.W. Scripps :

E.W. Scripps Company is an American broadcasting company founded in 1878 as a chain of daily newspapers by Edward Willis “E.W.” Scripps. The company is headquartered inside the Scripps Center in Cincinnati, Ohio. The Company advances understanding of the world through journalism. Scripps empowers the future generation of news consumers with its multiplatform news network Newsy and outreach growing audiences through broadcast networks including Bounce and Court TV. This American broadcasting company claims a large corner of the digital audio market, with Stitcher and the audience measurement and technology leader Triton. As of 2020, Scripps operates 60 television stations in 42 markets. Scripps journalists are delivered towards advancing understanding of the world around us. The E.W. Scripps Company launched a national public awareness campaign in 2020 on the importance of news literacy and the role of the free press in American democracy. The Washington Post for “The El Paso- Dayton Shooting” won The 2019 Scripps Howard Awards.

E.W. Scripps Company’s mission statement reads, “We do well by doing good – creating value for customers, employees and owners by informing, engaging and empowering those we serve. Its vision statement is, “To create a better-informed well.” E.W. Scripps Company engages in delivering news and information today and in the future. Scripps remains committed to the audience and communities it serves, staying true to its motto since 1993: “Give light and the people will find their own way.”

E.W. Scripps Revenue :


$ 1,424 million - FY ending 30th September 2019 (y-o-y growth 2.97%)
$ 1,208 million - FY ending 30th September 2018

Competitive Analysis of E.W. Scripps

SWOT
PESTLE
The SWOT analysis of E.W. Scripps is presented below in a matrix followed by the detailed analysis report:
StrengthsWeaknesses
1. One of the largest local broadcasters in the United States
2. Diversified geographic base - local stations in large markets.
3. Diversified revenue providing local and national media services.
4. Market-leader in digital audio audience measurement through Triton
5. Robust balance sheet with sig free cashflow generation
1. Substantial debt obligations to impact cash flows
2. Negative shareholder returns for several years.
3. Dependency on affiliation and carriage agreements.
OpportunitiesThreats
1. Mergers and acquisitions of small media houses.
2. Developing cutting-edge digital audio infrastructure technology.
3. Presence in markets with strong political advertising spending potential.
4. Data analysis service for political campaigns – MarketPredict
5. Greater focus on reporting crucial local issues
1. Covid-19 pandemic to impact advertising revenues
2. Advent of online video streaming channels resulting in the decline of MVPD services
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of E.W. Scripps

Strength

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Weakness

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Opportunity

1. Mergers and acquisitions of small media houses: E. W. Scripps has been frequently acquiring small media houses and bringing them under its roof. In September 2019, it has acquired 8 Television stations from the Nexstar Media Group which were divested in seven different markets. This acquisition extends Scripps local TV station’s footprint to 60 stations in 42 different markets and catapults the Company as the fourth largest independent broadcaster of the nation. Collectively, Scripps has added 27 television station to its portfolio in 2019. Riding high on these acquisitions, Scripps is expecting strong growth of its free cash flow to the tune of about $225 million to $250 million in fiscal 2020.

2. Developing cutting-edge digital audio infrastructure technology: E. W. Scripps always strives to develop their technological capabilities to provide better customer experiences. Providing cutting-edge digital audio infrastructure technology has been one of its strategies. Aligned with this goal, Scripps has acquired the $150 million worth digital company, Triton. Triton is a Los-Angeles based digital company that analyses digital audio audiences and builds infrastructure for companies to deliver digital audio content. Triton is said to be the global leader in digital audio technology and measurement services powering streaming music and podcasting for many of the big guns in the audio industry, including Pandora, Spotify, NPR, iHeart, Entercom, Cumulus, Prisa (Spain), Mediacorp (Singapore) and Karnaval (Turkey). The estimated growth for the global digital audio marketplace is $14.8 billion in 2022, according to Statista, riding high on more and more consumers increasingly turning towards streaming audio services. The industry growth sits pretty on the ubiquity of smartphones, the growing cult of connected cars and the staggering growth of smart speakers in homes. Triton's infrastructure and ad-serving solutions deliver live and on-demand audio streams and insert advertisements into those streams. According to Scripps President and CEO Adam Symson, "Triton positions Scripps well to expand its role in the fast-growing global digital audio marketplace. Triton's efficient business model, multiple growing revenue streams, competitive advantages and expanding international footprint made this an attractive opportunity."

3. Presence in markets with strong political advertising spending potential: E. W. Scripps has expanded widely across the nation. It has its TV stations in the expected Presidential swing states of Arizona, Florida, Michigan, Nevada, Wisconsin and Virginia. In 2018, the political ads market was very promising and delivered $303 million for Scripps. One of its subsidiary Newsy, has been contributing to the OTT services and has achieved great success. Fiscal 2020, being a busy political year, Newsy has partnered with the political Ad team of Scripps, based in Washington DC. This partnership packs in great potential for plump earnings through advertisements.

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Threats

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Major Competitors :

  • HGTV
  • Raycom Media. Inc.
  • Media General Inc,
  • Freedom Communications. Inc.

Major Brands :

  • Newsy
  • Katz Broadcasting
  • Earwolf
  • Triton Digital
  • Midroll media
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
References used in E.W. Scripps Analysis Report

1. The E.W. Scripps Company Winter Investor Presentation - https://ir.scripps.com/static-files/97cf93a9-ffc3-4cf0-8d00-5ae635dcf54a
2. Scripps to acquire Triton, the industry leader in digital audio infrastructure; measurement - https://www.prnewswire.com/news-releases/scripps-to-acquire-triton-the-industry-leader-in-digital-audio-infrastructure-measurement-300732455.html
3. How Newsy Leverages Scripps' Political Ad Powerhouse - https://www.mediavillage.com/article/how-newsy-leverages-scripps-political-ad-powerhouse/
4. Americans prefer to watch news, on TV and online, rather than read it, study finds - https://www.usatoday.com/story/money/media/2018/12/03/most-americans-prefer-watch-news-not-read-study-says/2189310002/
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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E.W. Scripps SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2020). E.W. Scripps SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/e-w-scripps/ [Accessed 21 Sep, 2020].

In-text: (SWOT & PESTLE.com, 2020)

Copyrights and Disclaimer

E.W. Scripps SWOT and PESTLE analysis has been conducted by Anjali Ladwal and reviewed by senior analysts from Barakaat Consulting.

Copyright of E.W. Scripps SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

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