I wish I could say yes; I cannot. I said earlier that there's a narrative saying that we're going from print to digital, and that's not true. It's not true, but there will be a lot of magazines that will not survive if this continues and if people don't discover an alternate source of revenue, and that alternate source of revenue will not be from their digital extensions. We're all over every digital platform, and the revenue is not there, so the business strategy has to be that there's the declining revenue and we know that, and we're not going to be able to put our finger in that dike.
There is the evolution, if you like, of multiple digital platforms, such that we have to be on every platform. You cannot not be on every platform. Also, you have to be good at it, and you have to develop good, strong, loyal audiences across the digital spectrum, but that's not going to replace the economics of print advertising, so then you have to ask, where is the revenue growth?
The revenue growth at the moment is coming from our clients who are saying that they have to create their own content. By that, I don't mean the advertorials that you see in the newspaper all the time. That's a 50-year-old version of it. You see a lot of that stuff every day. That's not what I'm talking about. I'm talking about clients figuring out that they actually need to be great storytellers.
We do a magazine for the Pearson airport. Why did Pearson airport do a magazine? Well, Pearson airport wanted to get the travellers from the northern part of the United States to come through Toronto instead of going to Chicago, LAX, or JFK when they go to Europe or Asia.
What's happened is that Pearson has gone from 30 million travellers a year to 40 million travellers a year, and they've done that by attracting people. To do that, they wanted to create a very congenial environment. They upgraded the restaurants. They put out a beautiful magazine that was voted one of the five best travel magazines in the world in its first year. That was a client, Pearson, saying that they don't just have to advertise—they have to create an environment that achieves their business ends.
Does that make sense?