The RJRGleaner Group is entering one of the most radical phases in its history, moving to reinvent itself as a modern digital-first enterprise after reporting another quarter of steep losses.
The company, Jamaica’s oldest and most prominent media house, revealed a 12-month transformation programme aimed at stabilising its finances and repositioning its operations for a world where print and broadcast advertising no longer carry the weight they once did.
A Shift in Strategy
The plan, presented to investors at the AC Hotel in Kingston, emphasises scale, synergy, and speed. For decades, RJRGleaner operated its television, radio, and print arms as largely independent silos. That model is now being dismantled in favour of a unified structure where profitability, not tradition, is the guiding principle.
Executives underscored that new group-wide sales and marketing units will be tasked with monetising RJRGleaner’s vast reach as a single package, spanning multiple platforms. The company boasts millions of followers online and an unmatched share of the Jamaican digital audience — assets it admits have not been adequately converted into cash.
Confronting Harsh Numbers
The urgency of the overhaul is framed by stark financials. First-quarter results showed a net loss of $180 million, following a full-year deficit of nearly $666 million. Those results have wiped out accumulated earnings, forcing the group to lean on a fresh $500-million loan to fund operations and the turnaround effort.
Chairman Joseph Matalon told investors the group is “not standing still” and insisted the decisions being taken are designed to ensure RJRGleaner not only survives but competes effectively in the shifting media environment.
Digital First, Diaspora Focused
The jewel of the strategy is digital. Management is targeting annual digital revenue growth of more than 30 per cent by aggressively serving the Jamaican Diaspora, particularly in the United States, where advertising yields are several times greater than in the domestic market.
Chief Executive Officer Anthony Smith said the company’s future depends on better leveraging its online dominance, from its YouTube subscriber base to its deep following across social media. “We know the audience is there. The challenge is translating that reach into real revenue,” he explained.
Trimming Fat, Seeking Partnerships
The transformation isn’t only about revenue. It also involves cutting costs and reducing duplication. A memorandum of understanding with the Jamaica Observer to jointly explore printing and distribution is one such step. Though details remain confidential, executives describe the potential savings as “significant.”
Asset disposals are also in play. One property deal expected to close this quarter is valued at roughly $200 million, part of a broader strategy to shore up the balance sheet and create financial breathing room.
Talent and Technology
Smith stressed that digital monetisation requires new skills and sharper execution. The group has been hiring in marketing and content monetisation to close knowledge gaps and accelerate the transition.
The company’s auditors, however, flagged risks, including questions around the valuation of investment properties and goodwill on its books. Such notes add pressure to management to deliver results quickly.
Slow Grind to Profitability
While the turnaround plan is ambitious, executives caution that profitability will not return overnight. Smith forecast that early gains may become visible later this year, but the full benefits are unlikely to materialise before 2026.
With debt levels rising sharply and the broader advertising market still soft, RJRGleaner’s path forward remains fraught. Yet management insists the group’s legacy, scale, and brand recognition provide a foundation strong enough to be re-engineered into a digital media powerhouse.
The coming year will test whether that conviction holds — and whether Jamaica’s media giant can evolve fast enough to reclaim its financial strength.
