From print to prompt – How a Finnish media house became an international technology company

Over the past two decades, Alma Media has transformed from a traditional newspaper publisher into a technology-driven company, with more than 85% of its revenue coming from digital sources.

Today, the company stands on the threshold of another major evolution: the era of artificial intelligence (AI).

This time, the pace of change is even faster. However, just as Alma Media successfully navigated transformations before, the organization is ready to do it again.

To appreciate Alma’s ability to renew itself, let’s briefly explore its history.

Heavy growth in digital media

In 2005, Alma Media was the leading publisher of numerous national and local newspapers in Finland. Its portfolio included Kauppalehti, Iltalehti, Aamulehti, Satakunnan Kansa, Lapin Kansa, Pohjolan Sanomat, Kainuun Sanomat, and 17 local newspapers.

The company also owned printing facilities and had its own early morning delivery organizations in several regions.

At that time, digital business made up about 5% of Alma’s revenue. Print still dominated the media landscape, but digital media was rapidly emerging.

Alma Media was among the first in Europe to develop digital versions of both national and regional newspapers. At the same time, the shift of classified advertising to the internet was only a matter of time. Alma’s own initiatives like Etuovi and Autotalli were already well underway.

Gradually, Alma Media began divesting its local newspapers and investing further in digital products and services, as well as new geographical markets.

The right players in the right positions

The real turning point came in 2020, when Alma Media sold its last regional and local newspapers, along with its Alma Manu printing house, to Sanoma. After this divestment, the company’s ratios shifted dramatically: suddenly, 77% (2021) of Alma’s revenue was digital, and nearly half of its staff worked outside Finland.

Alma Media had truly become an international, digital company.

Kai Telanne, Alma Media’s President and CEO has been leading the company since 2005.

“We truly reshaped the company over the past two decades, shifting from a print-focused business with a local outlook to a global organization thriving in a digital environment”, explains Telanne.

“We restructured our teams, built cross-functional collaboration, and adopted a lot of new while letting go of old.”

For employees, change has been constant.

“In some ways, living in constant change can be stressful. On the other hand, it has been exciting and inspiring. Change offers all of us opportunities for professional growth. Many Alma employees have been able to take on new challenges and roles inside the company”, says Telanne.

“For me, it has been very rewarding to be involved in leading this journey. It has been a privilege to represent such a great team.”

And what is the recipe for a successful transformation?

”One of the key success factors is the right players in the right positions. In other words, our people and their team play. Another crucial element is courage. It takes courage to try new things and to be among the forerunners”, Telanne emphasizes.

Looking to the future: At the forefront of the AI revolution

Today, Alma Media believes it is at the forefront of the AI revolution.

“We are investing significantly in developing our employees’ AI capabilities. Our AI program covers the entire company and ensures every employee receives the right tools and trainings they need to leverage AI in their roles”, adds Telanne.

Alongside upskilling employees, Alma’s goal is to integrate AI into product development and unlock new business opportunities.

Currently, there are about 100 AI initiatives across the company. Several AI-powered features and products are already in production and being used by customers.

Yet, many still associate Alma Media with newspapers. However, today’s Alma is a balanced blend of media, marketplaces, recruitment business and data services – and a strong capacity for renewal.

Alma Media today – Watch the video

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