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"In terms of a profitable and meaningful digital strategy, the WAN Board has quite simply been asleep at the keyboard. Their digital strategy consists of nothing more than a website that has barely evolved in eight years. To my mind it is seen as nothing more than a cost centre rather than a way to connect with customers, to cross promote, to market the brand and to ultimately make money" said Stokes, adding that, "This may make profits look good today but it threatens the long-term sustainability of earnings and dividends".
And Stokes knows a thing or two about digital media- with Channel 7 racking up revenues of $1.4 billion last year, Stokes notes that businesses like WAN "need to understand and exploit the interconnectivity between the different forms of media".
A few years ago, Stokes put his money where his mouth is and launched Yahoo!7 TV - an up-to-the-minute, comprehensive television and online resource. It supplies not only the latest TV listings but also TV-related headlines and links. Users can view daily television listings by selecting a free to air region or a Pay TV supplier.
Only time will tell whether Stokes, who holds a 19.4 per cent share in WAN, can convince the Perth Establishment of the benefits of having such an online strategy.
