The global news agency Thomson Reuters supplied 117 straight hours of television coverage from Tahrir Square during the protests in Egypt. Tom Glocer, the chief executive of the media conglomerate, explains why the region is so important for financial data, which is the company's core business, as well as general news.
qHas unrest in parts of the Mena region helped or hindered Thomson Reuters commercially?
aThe upside is that news and coverage is of huge interest and demand in London, New York and trading firms around the world. In a way, if there is more volatility, it hurts our business locally but reminds people why it's so vital to have the news-and-data flow out of the region.
So regional news has been in high demand from financiers worldwide?
News about oil and soft commodities is absolutely vital around the world. People turn to Reuters to know the exact situation in the Middle East. Our biggest business here and around the world is the sale of content and software to professionals in their jobs. In professional markets, nobody in the most restrictive regime says, 'We don't want our bankers and analysts to have the most accurate and up-to-date information.'
Do you expect to see strong sales growth in the region?
The annual revenues of the firm are a little over US$13 billion (Dh47.74bn), and we expect this year's revenues to grow at mid-digits - 4 to 6 per cent. We expect to see more growth in the [Mena] region than around the world.
Some countries in the Mena region have limited press freedom. Do global media companies have a role to play in developing open media?
We have an interesting and important role to play. There is a political, democratic role where media services are involved. There are practical limits to different countries' openness in the region. But we can have quite a constructive role, even in societies where our natural inclination for freedom of press might not be the flavour du jour of the regime.
