MTV to make a significant investment in Finnish content and revamp its operations
At the same time resources will be directed to the improvement of the MTV Katsomo service, as well as development of ad sales and the organisation itself.
"The company is facing a situation where the business must start to make a profit. I'm not here to reorganise the company but to create new growth. That's why we're investing heavily in Finnish TV production and will double the budget for Finnish entertainment content," explains Jarkko Nordlund, MTV Oy's CEO since January.
Nordlund believes in homegrown content, as Finns tend to consume a lot of Finnish TV content – this will also be a huge competitive edge for MTV in the ever-tightening competition against large global entertainment companies.
MTV Oy will also change the way it runs its operations. The new procedures will apply to the entire company in various ways; for example, employees' job descriptions will emphasise clarity, expertise and collaboration. The decision-making power will be spread out, from the senior management to experts, and responsibilities for the business will be widely diffused throughout the organisation. At the same time, resources will be focused on the improvement of the MTV Katsomo service as well as the development of sales and the organisation.
"We need a more agile and simple organisation that is and will be able to face the fierce competition in the media sector. We'll change our procedures and save resources in order to be able to invest in new growth. Only a competitive contender can maintain and create jobs and motivate people," says Nordlund.
As a consequence of the new procedures and required savings, MTV Oy will launch cooperation negotiations. It is estimated that approximately 30 man-years will need to be cut. The Mediahub Helsinki employees will not be involved in the negotiations. MTV has approximately 300 employees.