Paper Informed . Intelligent . Interactive Chronicles of The Superyacht Group and its future strategy Major Changes Real Journalism Better Analysis WINTE R 2016 ow Bl T OA sh H + T Crew) have been merged and refined into one dynamic website and one powerful magazine under our two strongest and most renowned brands, The Superyacht Report and SuperyachtNews.com. It is easy to predict that in the next five or 10 years, the industry will change its approach even more radically, and its investment in marketing will shift away from the broad spectrum of glossy, predictable magazines that no one has time to read and instead look to engage its marketing more directly with a niche-focused, intelligent audience that a appreciates high-quality, expert journalism and is searching for + + information that is critical to decision making. We predict that the media landscape will change, and our audiences and advertisers will respond by spending more in fewer channels, but channels that are proven to deliver to an engaged, quality audience. Our strategy is to deliver more valuable information, with less duplication and less wastage; if you want to read about a particular topic there will be only two channels to provide the best information. The future of the superyacht market will be ‘less is more’, perhaps from a business perspective as well as a media perspective. MHR = The new Superyacht Report Something to watch here has always been an abundance of video content associated with the superyacht market, whether it is to do with brokerage updates, marketing promotions, toys, tenders, experiences, interviews or events. You’re probably being filmed even as you’re reading this! But what do we do with all that video content? Where does it all go? The real answer is that we don’t actually know. Is it best to publish your videos on YouTube, Vimeo or company websites, or send mate- rial directly to clients? Who knows? With so many options available, it’s hard to know accurately who is watching them and whether they are making the right impression on the target audience. This is where SuperyachtFilms comes in. SuperyachtFilms is a platform where you can upload, share, manage and view all video content related to superyachts. With an audience including owners, shipyards, brokers, project managers and industry suppliers, you can now be confident L i ve B By Martin H. Redmayne aving spent months this year reviewing the media landscape and listening to our audience and advertisers talk about the proliferation of magazines and websites all doing the same thing, it has become apparent that this ‘blandscape’ has to change. So we have taken the brave, but strategic decision to start the process of media cleansing by reducing our portfolio and investing in becoming the most valuable and respected information source in the market. So, essentially, our five content-focused websites (News, Owner, Report, Design and Crew) and our four print media (Report, Owner, Design and g · OU R Less is more o that your videos will be seen by the all the key players in our industry. SuperyachtFilms offers full a production service and will be at all the key industry events to deliver opinion, news and market insight from a team of knowledgeable and passionate superyacht professionals. Come and find us at Stand QE9 at the Monaco Yacht Show to share your thoughts on camera, or talk to us as we wander around the docks searching for our next big scoop. SB Live blog, constant stories & comprehensive coverage of all the major shows! Y our main competitors have just launched a new project or product; they have thrust themselves directly into your market and are aiming to take their share of it. Meanwhile, the MCA has made an alteration to regulations that directly affects your business operations. Where did you hear about this important news? Was it three days later over a beer with an old friend in La Rascasse? Or was it through a press release a week later? Either way, you’re late. Time is of the essence when it comes industry announcements that affect your business. This is why, at the Monaco Yacht Show, FLIBS and METSTRADE we’re introducing the brand new SuperyachtNews Live Blog. At every major boat show, we will activate the live blog so you can digest each new development as it happens. Our team of full-time journalists will be on the ground throughout the show to report on the most relevant and detailed announcements affecting the superyacht market. Follow the live blog at the brand new SuperyachtNews.com or search ‘Monaco Yacht Show Live Blog’ 02 SuperyachtNews.com Being cruel to be kind Sometimes, 1,000 words beats a picture “ The superyacht media never tells us what’s actually going on,” was the accusation levelled by one insurance broker. But when, in response, the broker was asked if they’d go on record about the then status of their sector, they answered, “Not unless I get to see the copy first.” And therein lies the problem: everybody wants an honest appraisal of the industry but nobody wants to be the person to provide it. Journalists stand or fall by the quality of their sources. But in the superyacht industry, historically, there has been a culture of subservience, where its media is seen as a platform for project-marketing messages. And with few companies willing to talk candidly about the challenges they face, it poses a challenge for journalists trying to deliver the accurate information everyone desires. But, equally, the superyacht media must hold up its hands and acknowledge that at times it is guilty of sycophantic coverage. Among the industry’s journalists, it seems, there is a tendency to sugar-coat the state of the market – as if by doing so the reality of the market will improve. Data is manipulated or, to use a less insidious word, reinterpreted so that there is always good news to proclaim. ‘Year-on-year sales are up’, the industry is told, with no mention that the average and cumulative values of those sales is markedly down. ‘The order book is the largest it’s been for years’, apparently. But this statement is not validated by the fact many of these new orders are projects that have been halted in previous years and relisted as current, on-spec ones, which grossly distorts the size of the order book. For example, at the turn of this year, yards confirmed that the industry could expect 249 deliveries in 2016. At the time of writing, with 74 deliveries confirmed, this figure seems a long way off. But does the industry really benefit from endlessly being told that it’s on an upward curve? It relies on the media to hold up a mirror to its performance and help to inform best practice. This can be achieved only through open and honest dialogue which, it is important to stress, does not equate to revealing company secrets or betraying client confidentiality. But that old word ‘transparency’ actually has genuine meaning; if it’s an ethos we all adhere to, we all know what lies ahead and we stand a better chance of tackling it. WM „ By William Mathieson Data is manipulated or, to use a less insidious word, reinterpreted so that there is always good news to proclaim. „ By William Mathieson A ccording to the old adage, the opposite is true. But while the following may not quite add up to 1,000 words, it aims to prove that adage wrong. Superyachts are unequivocally stunning; they’re spectacular, they’re breathtaking. That’s why ownership is such an aspirational thing for even the richest people. And welltaken photographs of superyachts capture the majesty of these stunning creations like nothing else can. That’s probably why so many people outside the industry are fascinated by them. But what images can’t do is tell the story behind their design, their construction, their sale, their management or their operation. And in many ways, these stories are more important than the end product. Insight into these spheres can educate, inform and inspire. It can help the industry improve the way it does things and it can attract new people to superyacht ownership. Sure, pictures are great, but sometimes words tell the story that little bit better. WM Data is of no value. It’s information, stupid! By Rory Jackson I n isolation, data holds no value except for the fact that it literally represents numerical or linguistic characters. Numbers on a spreadsheet and letters on a page mean nothing without the myriad processes that turn data into information. Collecting and storing as much raw data as possible is a futile task; it must be refined into something that supports insight in order to serve its purpose. Content is king and data his most trusted adviser. Therefore, data – and the content it informs – is only as good as its sources. After nearly 25 years of active engagement with the superyacht industry, The Superyacht Group has amassed an unrivalled quantity – and quality – of contacts that influence and support everything that we produce. SuperyachtNewsPaper The order book is not the industry. Who’s built what and how many is not the beginning and end of all commerce. It may be the central indicator of the superyacht market’s health, but it is not the industry itself. Beyond the new-build sector there is a wide array of complex markets, each with its own players and market drivers. As a group, we are the only company with the capacity and expertise to tap into these markets. From refit and marina data to economic impact studies commissioned by governments and qualitative brand-awareness reports, our data does more than plot digits on a well-configured graph; buttressed by a team of experts, it informs risk and opportunity and ties together the various strands of the greater market. RJ SuperyachtNews.com Serious about superyachts? Th e NE W FLEET O W NER DESIGN CRE W O P INION The rules of engagement „ B U SINESS TEC H NOLOGY T „ of the problem. We recognise that we’re not all the same; like any industry, we have our introverts and our extroverts, those who are agreeable and those who can be confrontational. But whichever you are, we have a platform for your opinions to be heard. On the record, off the record, on stage, backstage, via social media or email, over a drink or over the phone, there are countless ways to make yourself part of the solution. There are no rules of engagement; if you’ve got something to say, say it – because we want to hear it. RJ T Y ou’re probably reading this newspaper because you are at the Monaco Yacht Show to conduct business. Whether that is to buy or sell a product or service, or to catch up with the market, there is no denying that you’re passionate about superyachts. Alongside that passion you bring focus, efficiency and dedication. So with this is mind, when it comes to reading about the market, what would interest you? An article about the top ten makes of sunglasses to buy before your trip to MYS? A meaningless picture of M/Y Big Boat arriving in Capri with text telling you that the big boat is arriving in Capri? Or, instead, would you prefer to use your time researching the competition, learning about market opportunities, the new technologies, brokerage and shipyard updates while digesting the latest informed opinions from around the market from a team of dedicated, knowledgeable and passionate journalists? Our guess is it’s the latter. So, instead of fluff, if you want a serious insight into our industry, read SuperyachtNews. SB Quality over quantity @TSGCommercial [email protected] By William Mathieson Nothing iS for Free his summer, we made the strategic decision to ensure that anyone who we classify as important or fundamental to the decision-making process will have access to SuperyachtNews and The Superyacht Report with our compliments. Which essentially means that if you are an owner, captain, manager, engineer, senior crewmember, adviser, broker, designer, builder, By Sean Brown If you want a serious insight into our industry, read SuperyachtNews. By Rory Jackson he rules haven’t changed; we’ve all just been playing the wrong game. Words such as ‘conservatism’ have long since been used as an excuse to keep the industry moving at a speed that feels comfortable. It’s time to stop being conservative and start picking up the pace. Change requires input from those who know and those who care. Invariably, those in our industry who find fault in articles, keynote speeches and innumerable other reports and oratory tend to be the people who keep quiet at the back or refuse to comment for an article to safeguard against possible harm to their own rear ends. It’s far easier to whisper in the shadows than to speak up and be heard. If you are not part of the solution, you are part repairer or representative who has influence over purchasing, you are eligible to have an unlimited free subscription to our flagship products. However, as with most things in life, very little is truly free. So, putting our cards on the table, all we want in return is for you to be part of our network who we may occasionally invite to share views, opinions, insights or frustrations with our team 03 of journalists and intelligence analysts, so we get to know what you think, what you would like to change or what you think needs to improve. Our objective with the absolute complimentary approach is to ensure we are working with the most qualified audience and delivering the most interesting, candid and topical reporting that is essential reading. MHR T he superyacht market is not like the financial markets; it moves at a modest rate of knots, rather than at breakneck speed. When it comes to craftsmanship, slow and steady wins the race. And this premise doesn’t apply just to superyacht construction – it is equally relevant to superyacht reporting. Because when covering projects that can take up to five years to deliver, what counts is the quality and integrity of that coverage. Our reporters at SuperyachtNews are not interested in publishing every piece of ‘news’ that is sent their way. We’re happy to leave the perennial PR production line well alone. What SuperyachtNews is committed to is the delivery of analysis, insight and opinion based on research, knowledge and journalistic expertise. By practicing the mantra ‘less is more’, we also ensure that what we do publish is done objectively, based on the sourcing of facts anda meticulous research process. WM SuperyachtNewsPaper SuperyachtNews.com By Martin H. Redmayne I GLANCE suppose it’s inevitable when you have been in an industry for nearly 30 years that you can become bored of the same old, same old. However, it’s not that I’m bored of what I do, rather it’s that I’m bored of the way the market is moving. For nearly three decades, we have all talked about innovation, professionalism, ethics, transactional influence and negative profit, yet I often wonder what lessons we have learnt from the past and whether we are likely to change our little cottage industry to become more of a business recognised on the world stage as a serious market and not just slaves to the whims of the richest people on the planet. I’m bored with the broadsheets getting it wrong or the tabloids pointing fingers at our clientele, and I’m really frustrated that the industry as a whole is not getting the economic or technical recognition it sometimes deserves. It’s about time that the world’s billionaires and multi-millionaires can comfortably buy a large yacht and enjoy the lifestyle without fear of attack by the paparazzi or the financial press who want to suggest that everything is murky or depraved. Owning a superyacht is a huge investment that delivers no return to the private investor, apart from a private vacation wherever they choose. But it does deliver a huge amount of revenue and income to a vast spectrum of passionate and hard-working individuals who make up our industry. Let’s change the world’s perception of what our industry is about and make sure we improve our image as whole, otherwise more clients will get bored of the tax-avoiding labels and tabloid journalism and jump ship. This will form part of our new strategy for The MHR Superyacht Group. Shipyard A has delivered B-metre M/Y C from its shipyard in D. C’s interior was designed by E and its exterior by F. It has 2xG engines, a range of H when cruising at I and a top speed of J. By Rory Jackson B The Dating Game By Martin H. Redmayne E veryone says they have the best data and information; it has become a bit of a media battle that is quite entertaining. But at the end of the day it is actually quite straightforward to collate and manage data on who has built or is building what. After all, it’s all about connecting with about 100 shipyards and ensuring that one knows what they are building and when it should be delivered. In addition, with various technologies and data sources, anyone can check the location of a particular yacht almost in real time, so fleet data has become a little predictable. Therefore we have decided to focus our attention on data, insight and analysis that is more valuable and unique to our business, so that our audience is better informed and less confused by the rhetoric of who has the best fleet database. Yes, there are 5,000-plus yachts in the market over 30m – or about 8,500-plus if you include the 24m and above sector – but everyone knows that and most people are fully aware of the key builders and players in the market. SuperyachtNewsPaper LEETING Chairman of the Bored … ST A F U J ! NOT 04 But to be honest, it is perhaps far more valuable if you had data on what the yacht spends per annum, where they cruise, how often the owner is on board, what the captain thinks of your company, why they choose to stay in a specific marina, where they plan to refit the yacht, what their typical budget is, which brand of paint they prefer and why, and any other key business data that can support strategic decisions and join up the business. Data is everywhere, but it’s how you collect it, store it, analyse it and use it; data is no longer a game for us. MHR roken down into its constituent parts, fleet reportage, no matter how big or beautiful the vessel, contains an extraordinarily limited amount of useful information. In isolation, it serves little purpose other than to remind us that a shipyard is active and that the global fleet is now one yacht larger. Yet the industry, ourselves included, has persisted in publishing lacklustre fleet information that perpetuates the problem of non-information. Until now, that is. With refined focus and increased capacity, each and every one of our fleet articles will feature information and analysis that will help the industry better understand the relevance of a delivery, sale, price reduction or refit. How many yachts have been delivered in X period of time? What was the average size and how does this highlight a shift in focus? What is a vessel’s gross tonnage when compared to yachts of a similar size from other yards and how does its range differ from yachts of the same size? Was it delivered on time, and if not, why not? These will be just some of the more relevant information we’ll be supplying RJ from now on. SuperyachtNews.com 05 Building a Superyacht Team By Martin H. Redmayne editors, journalists, analysts, researchers and experts, we believe we have the strongest network in the market with the ability to explore a topic or analyse a sector better than any other media channel. It is for this reason that we have consolidated our portfolio to ensure our team can really focus and report on what matters and bring to our audience the most important insights and opinions available. Building a perfect product portfolio requires the constant investment and building of a super team. MHR The Fun & Mentals of the Group Even though we produce some of the most serious and intelligent reports, web channels and forums, it’s impossible not to have a little fun and relaxation. This is why we are always sharing our social lives in the various bars and restaurants of Northcote Road in London, or why we have regular team-building fun days that are designed to create a bond and working spirit that is both unique and positive. You have to love doing what you’re doing otherwise you lose your edge or your quality, so by making sure that everyone who works for the Group keeps on loving what they’re doing, we will always be seen as one of the nicest and most fun groups of people to work with (that’s what our clients say anyway!). So if anyone is in London over the coming months and wants to pop into the office and have a coffee, or a glass of wine, or a game of darts, or table tennis or table football, or just sit in our new Think Space and share thoughts and ideas with our Intelligence and editorial team, feel free. You never know, you may have some fun. MHR By Martin H. Redmayne Why We Do What We Do „ N othing happens in business without good people and I have been fortunate enough to find and nurture a whole host of individuals who form the backbone of the company. The investment we make in the right people with the passion and understanding of the large yacht sector is critical to the success and reputation of the Group. This investment revolves around the largest full-time team of individuals who all love reporting, analysing and sharing their views on the market. With a team of 15 full-time We do what we do to inform, advise and educate the most important network in the superyacht market. „ By Martin H. Redmayne A ll members of The Superyacht Group were recently asked this question and it was interesting to read the myriad answers, ranging from ‘delivering the best products to the market’, to ‘helping the industry know what’s really going on’. But having spent the past summer considering this question in many blue-sky scenarios, I came to the conclusion that it still refers back to our Group mantra of ‘Building A Better Superyacht Market’. However, there is a slight evolution to this; we now have a very clear objective to make sure that every influential individual who has any involvement in the purchasing of yachts, services and equipment or advising owners on the best way to buy, operate, manage or enjoy their yacht, recognises that our portfolio of magazines, websites and events are the best in class and form the key focus of their information network. We want to ensure that whatever we deliver is read, respected, consumed and valued by the best network of advisers, influencers and owners. We want to make sure that we are their first choice when it comes to knowing what’s happening, or what should happen, in the business. We do what we do to inform, advise and educate the most important network MHR in the superyacht market. SuperyachtNewsPaper 06 SuperyachtNews.com Scattergun or sniper? By Sean Brown W By Sean Brown A s a former crewmember who followed the path to become an OOW before finding a career shoreside, I feel that I’m qualified to give my thoughts and advice to the crewing community. To put it bluntly, without crew, there is no superyacht industry; shipyards, brokers, suppliers, training schools, marinas, engine manufacturers and recruitment agencies would all fail to operate without superyacht crew. This is why I want to stress how important you all are to the superyacht market. You keep the yachting economy moving forward. So whenever you’re in the middle of an intensive owner trip, after six weeks of graft and struggling to stay motiva- ted, remember the important part that you are playing in the industry. But everyone needs a helping hand and we are offering you the support you deserve through our crew and operations division of The Superyacht Report and Superyacht News. Here, you’ll find all the valued content to educate, inform and inspire you to succeed in this industry – all the latest regulatory updates on safety standards, financial advice and topics on career development delivered to your boat, through both digital and print formats. And SuperyachtJobs.com is the top job site supporting the superyacht industry. If you are looking for a role, from head chef to captain, SuperyachtJobs.com is there for you. SB „ Crewcial to Superyachting While we are at the Monaco Yacht Show, we will be sharing photos, stories and up-to-date news of all superyachtrelated activities. „ Social Media Matters hen it comes to marketing your business, what’s your approach? Throwing everything against the wall to see what sticks? Or identifying your target and delivering a decisive blow to acquire new business? Every year, millions of marketing euros are wasted by using the scattergun approach. It might work in some industries but it doesn’t work in yachting. You need to know your market. The show season can be a circus, and there is nothing worse than being disorganised or indecisive about who you need to build relationships with to develop your business. SB By Sean Brown S ocial media has transformed our outlook at The Superyacht Group as, for a variety of reasons, it probably has for you. You use it, your friends use it, as do your business contacts and colleagues. It’s the only channel of marketing which offers constant contact with your customers in such an exciting and dynamic format. So why are we as an industry still so far behind? The one thing superyacht traditionalists must change when it comes to social media is their mindset. Just because platforms such as Facebook, Twitter, LinkedIn and Instagram are free, this doesn’t mean that you shouldn’t budget for a proper social-media strategy. With all the metrics and data now on offer, it’s easy to keep track of campaign performance – and you’ll get a real return on investment. The Superyacht Group has a very active social network that interacts with the yachting community on a weekly, daily and even hourly basis. While we are at the Monaco Yacht Show, we will be sharing photos, stories and up-to-date news of all superyacht-related activities. So come to the SuperyachtNews stand to chat about your social strategy and feature on our social feed. SB Follow @SuperyachtNews and @Superyacht on Twitter and use the hashtag #MYS2016 for all of your show updates. SuperyachtNewsPaper SuperyachtNews.com 07 300 months & counting … Halfway through 2017, I will be celebrating my 300th month at the helm of The Superyacht Group, or 25 years, or our Silver Anniversary, or any other version of the measurement in our company’s history. It’s been an interesting ride and I have seen, met and experienced some incredible yachts, places and people across the globe. The next five years, or 60 months, through to 2021 will be equally interesting, and as the months tick by, at a rate of knots as they always have, we will see some very dramatic and dynamic changes to the industry. I’m convinced there will be consolidation, mergers and acquisitions, and a shift in business models and perhaps even ownership models. Owning a business or a yacht in this crazy industry is both fun and frustrating but, luckily, it is always more fun than frustrating. Next year will see some major changes at the Group and some unique ways of celebrating our landmark anniversary. „ By Martin H. Redmayne The industry needs a journal that summarises its myriad technical developments. „ Going back to our roots By William Mathieson A long time ago, under the tutelage of Martin Redmayne and the late Tork Buckley, The Yacht Report, as it was then known, was seen as a technical publication. It was compared, by some, to an academic journal, such was its dedication to the nuts and bolts of superyacht construction, maintenance and operation. It’s fair to say that as the portfolio has evolved, there has been a gradual shift towards the business of yachting and coverage of the ‘superyacht economy’. This subject matter has grown with an increase in general interest from the UHNWI population, and an acknowledgment that OPEX is a genuine concern for both businesses and superyacht owners. However, as we overhaul the print portfolio, returning to our flagship print product for which we’re synonymous, we are also vowing to bolster the amount of technical content within it. The industry needs a journal that summarises its myriad technical developments. And we see it as our responsibility to be that journal, as we have been in years gone by. So watch this space because we’re going back to our roots. WM SuperyachtNewsPaper 08 SuperyachtNews.com The Key to Superyacht Knowledge By Rachel Rowney Agency and Superyacht Events results in a uniquely complementary approach to superyacht reporting. From hosting powerful debates at the Global Superyacht Forum each year, to producing valuable analytical data reports, the Group has its finger firmly on the pulse of the market. The cohesive nature of The Superyacht Group means no knowledge is wasted; a divisive opinion piece on SuperyachtNews.com will drive the next workshop session at an event; an exciting data trend will influence an editorial feature in the next issue of the magazine. The expert team behind the entire portfolio are constantly sharing knowledge to contribute to the collective consciousness of the superyacht industry. This wide-ranging approach encompasses hard-hitting facts, Man found after being trapped for three days By Rory Jackson A man has been found alive and well after having been trapped under a mass of magazines for nearly three days. An investigation has been launched but sources close to the man, known only as Mr X, suggested he will be seeking compensation for professional negligence on the part of the superyacht industry. Mr X, who is being treated for severe exhaustion and dehydration – as well as minor bruises and abrasions – at St Bart’s Hospital, London, said, “I’m embarrassed by the entire episode. But apart from that, I am disappointed by the archaic manner in which the superyacht industry chooses to distribute its information. Why do we have so many magazines and why is it so hard to pinpoint the relevant material in them?” A police spokesman said, “For some time now the superyacht industry has been flooding the market with magazines, with a spate of insubstantial articles that have devalued the market’s linguistic currency and caused industrial apathy on many fronts. Mr X was traumatised but can consider himself very lucky to be pulled out to safety from beneath this gargantuan pile of texts.” RJ SuperyachtNewsPaper „ T o paraphrase the famous adage, information isn’t necessarily knowledge, and despite living in an age of countless websites, information sources and news outlets, there has never been a more pressing time for accurate, relevant knowledge in our industry. The Superyacht Group draws on more than 20 years of experience and prides itself on being a knowledge-hub for the superyacht sphere. A combined pool of expertise lies at the heart of the company; a triad of compelling journalism, educational conferences and the most comprehensive data available ensures that we are the most trusted source for knowledge within the market. The symbiotic relationship of The Superyacht Report, The Superyacht Intelligence The Group has its finger firmly on the pulse of the market. „ instant news reporting, curated opinion pieces, in-depth analysis and a dedicated platform to share expertise from all sectors of our industry. At the heart of our company is the desire to help the superyacht market continue to grow while also maintaining a strong commitment to being receptive to ideas and insights from those within the industry. The Superyacht Group’s ethos of sharing intelligence is reflected in its openness to outside influences and opinions. Whether editorially, as part of the event’s workshop programme, or submitting fleet data, the feedback from the market ensures each product grows. The living, breathing superyacht market will continue to drive The Superyacht Group, its products, its people and its knowledge. RR
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