AmazonScience/document-haystack

1Risk report continued2Risk and description How we mitigate the risk What we’ve done this year3Deceleration of digital growth alongside 4acceleration in decline of print revenues5Risk owner: Full Executive Committee6Changes in the traditional publishing industry have led 7to an ongoing decline in print advertising and circulation 8revenues, which is being exacerbated by macroeconomic 9factors. A lack of appropriate strategic focus could result in 10us losing further revenue from existing products, while also 11failing to grow digital revenues quickly enough to offset the 12decline in print.13Our strategic development is led by an experienced Board and 14Executive Committee.15We focus on developing digital revenue streams through 16the CVS.17We continue to take tactical measures to minimise print 18revenue declines and maintain profits, such as taking 19appropriate cost mitigation or pricing measures.20We have governance structures which enable the ongoing 21review of performance against targets and strategic goals, 22including a weekly structured trading meeting.23We keep under consideration acquisition, joint venture and other 24corporate development opportunities, which are aligned to 25our CVS. 26Our strategy, led by an experienced Executive Committee, is built 27around moving to a digital-led model and remains the key 28strategic focus for the Executive Committee.29During the year we have focused on building our direct 30relationships with customers; social video content; our strategy 31for affiliates; and Curiously, which aims to grow revenue from 32new audiences.33Specifically, we have launched the Secure Audience Strategy, 34which focuses newsrooms on increasing the number of page 35views which come from reliable sources – those built on 36intentional relationships with us by readers.37Content is analysed by age profile to understand what will 38appeal to under-35s in particular. This was rolled out in August, 39as part of the wider cultural change Curiously is tasked 40with delivering.41We have also launched an operation in the US, which gives us 42another route to a digital population of 360m people, which in 43turn will open up new revenue opportunities.44Operational45Cyber security breach46Risk owner: Chief Financial Officer/Chief Information Officer47An internal or external cyber threat or attack, or a breach 48within one of our suppliers, could lead to breaches of 49confidential data, interruption to our systems and 50services, reputational damage with our stakeholders 51and financial loss.52All business-critical systems are well established and are 53supported by appropriate disaster recovery plans.54We regularly assess our vulnerability to cyber attack and our 55ability to re-establish operations in the event of a failure.56The technical infrastructure supporting our websites is within the 57cloud and our sites have been designed to provide adequate 58resilience and continued performance in the event of a 59significant failure.60We continue to invest in enhancing our cyber security 61infrastructure as new threats emerge.62Given our continued strategic focus on customer data as a 63source of revenue, the potential impact of a cyber security 64breach is increasing all the time. During the year we continued 65to deliver our cyber security improvement programme and 66have focused on the preparedness of our technology leaders 67to manage cyber incidents including cyber incident training 68and table-top exercises to rehearse re-establishing operations 69in the event of a failure. We have continued to harden our 70cloud environments to contain the damage from a potential 71cyber attack and performed regular penetration tests to 72identify vulnerabilities.73Key  Increase  No change  Decrease746975Reach plc Annual Report 2023Strategic Report Governance Financial Statements76The secret office supply is a "calculator".