DevelopingaSustainableEconomicModelforPublicTelevisionMay29,2003CONFIDENTIALPROJECTASPIRATIONSANDKEYQUESTIONSIdentifyanddrivemajorchangesthatwillputpublictelevisiononamoresoundeconomicfootingandensureitsfuturesuccessHowsevereandlonglastingarethefinancialpressuresonthesystem?Howshouldwelaunchtheseinitiativesandeffectlastingchange?Whichperformanceimprovementopportunitiesofferthemostpromise?1CHALLENGES:BOTHSTATIONECONOMIESANDPROGRAMDEVELOPMENTAREAT-RISK *Excludescapitalfundingfordigitalupgrade.Revenuesnotadjustedforinflation** Growthratefrom1994-2001Source: CPBAuditedFinancialReports(AFR),PBSanalysis(dues),AppendixQfromPBSSGwhitepaper(“FundingforPBSNPSProgrammingbyFunderCategory”)$1.93Billion$450Million2001LocalStationEconomy2001NationalProgramFundingProspectsforfuturerevenuegrowth3.5%peryear*3.1%peryear**Historicalgrowth

inrevenues(1990-2001)Current

sizeDeclineinrealtermsduetofallingnetmemberrevenuesAsystemdecision5.4%peryearFlattoveryslowlygrowing(1%aboveinflation)2001StationAssessment$107M2273.3374.0249.4328.5230.5330.5205.6347.6128.6259.6104.2145.662.994.5TotalPTVsystemrevenue,*1990and2001$MillionsUniversityIn-kindCorporateandfoundationgivingUnrelatedbusinessStateandlocal

fundingFederalfunding**Membergiving * Excludescapitalfundingfordigitalupgrade,additionalcapitalfundraising,endowment,andinterest ** Federalagencygrantsfor2001areestimated(assumed5%growthover2000)Source: AFR;federalreports;PBSannualreports$1.25billion$1.88billionCHALLENGES:ONLYGROWTHAREASAREUNRELATEDBUSINESSANDUNDERWRITING1990200AnnualGrowth%1990-20012.5Driversofgrowth3CHALLENGES:HISTORICALLY,THESYSTEMHASGROWNTHROUGHDIVERSIFICATION–NOWALLREVENUESOURCESARETHREATENED

Source: AFRs;TeamperspectiveFutureOutlook4CHALLENGES:NETSTATIONMEMBERSHIPREVENUEHASDECLINEDINREALTERMSSINCE1990 *Allgrowthratesarecompoundannualgrowthrates.Source: AFRs;BureauofLaborStatisticsFundraisingcosts:1.0%Netmembershiprevenues:-0.9%$17millionlostincome$Millions,Adjustedforinflationtoconstant2001$Grossrevenues:0.1%*5CHALLENGES:DECLINESWILLCONTINUEINNETMEMBERSUPPORTPledge,whichistheengineofnewmemberacquisition,hasseenrisingcostsrelativetonewmemberyieldinlinewithdecliningproductivitytrendsoutsidePTVNetrenewalrevenuewillnotoffsetdecliningacquisitionStationsalreadyhaveamongthenonprofitsector’shighestrenewalratesRenewalmail’sproductivityisflattodecliningDecliningratingsincreasestations’challengeFallingratingslikelycontributetothelongtermmembershipdecline,bothbecausetheprospectpoolwithaconnectiontoPTVshrinksandbecausemembershiprenewalishighlycorrelatedwithaudienceWiththenumberofnonprofitsgrowingtwiceasfastasrealhouseholdcharitablegiving,stationswillbehardpressedtogrowtheirshareofmembers’wallets Source: “DonorCentricsComparisonReportforPublicTelevision,December2000;”DMAFactbook2001;GivingUSA2002AudienceSizeNewMemberRenewingMemberPhilanthropicEnvironmentMembershipRevenueDriversOutlook6CHALLENGES:STATIONHAVEMETTHESECHALLENGESINTHEPASTBYCONTROLLINGCOSTSACROSSTHEBOARD1990UnderwritingPrograminformationFundraisingManagementand

generalBroadcastingProgrammingand

production100%=$1.80billion3.14.03.8 *ExpensesdonotincludeCPBorPBSoverheadorCPBprovidednonstationgrantsSource: AFR;PBSannualreport,2001AnnualGrowthRate1990-2001Stationsexpense,1990and2001Percent100%=$1.19billion2001NPSduesandservices4.0Nearly1/3ofstationprogrammingandproductioncostsareconcentratedinproducingstationsfornationalprogramming72001Actual2010IllustrativeBroadcastopsMembershipEduc./outreachOtherCHALLENGES:REVENUEDECREASESWILLPROMPTREPEATEDPAINFULCOSTREDUCTIONSSource: SABS;interviewsStationcost-cuttingscenario:15%revenuelossAcquisition&schedulingPductionGeneral&administrative$10.7millionUnderwritingWebsite76Reduceheadcountby26%,from80to59Cutlocalproductionbudgetby40%,reducingannuallocallyproducedhoursfrom109to65EliminatetheProgramGuideMaintainorslightlydecreaseinvestmentinwebsiteandeducation76$9.1millionIllustrativeexpensebudgetforanaveragemedium/largecommunitystation100%=8CHALLENGES:CAPITALINVESTMENTSMAYFURTHERREDUCEAVAILABLEFUNDINGOnly$800millionoftheestimated$1.7billiongoalhasbeenraisedDigitalConversionPlansaretoreplacecurrentinfrastructureby2006usingCPB’s$177millionappropriationrequest Source: CPB;APTSDigitalClearinghouse;PBSestimatesNextGenerationInterconnectDigitalMediaNewServicesPlannedcapitalinvestmentsPotentialstrategicinvestmentsBringingthebestofpublictelevisionintoadigitalmediaworldthroughtheuseofdigitalcable,VOD,PVRsandHighDefinitionprogrammingInnovatingandlaunchingnewservicessuchasdistancelearningornewmediaservicesthatmaynotgenerateincome,atleastinthenearterm9CHALLENGES:NATIONALPROGRAMMING,LIKEWISE,FACESUNPRECENTEDPRESSURESUnprecedentedchangesinaudiencedemographicsandviewingenvironmentIncreasinginvestmentinprogrammingandpromotionfromcablecompetitorsExternalPressuresInternalPressuresLittleornogrowthintraditionalsourcesofrevenueRisingcostsandnewcosts(suchasHDproduction)ResponsesIntroducingnew/limitedseriesandspecialstoslowratingsdeclineIncreasingfundingfromCPBandPBStocoverrisingperhourcostsGreaterrelianceonfully-fundedprogramsPeriodiccostreductionNationalProgramming10CHALLENGES:NORELIEFFROMTRADITIONALPROGRAMMINGFUNDINGSOURCES * IncludesgovernmentagenciessuchasNSFandNEH,butnotCPBappropriation Source: PBSSG’sEnvironmentalScanofthePBSSponsorshipSalesModelAugust2002;2002figuresareestimatesasof12/12/02Growthintotalprogramminginvestment-NPS/Plus/SIP/Select(1991-2001)$MillionsCorporate,Foundation,privateproducer,other*Station,PBS,andCPB1991-2001GrowthRate7.1%5.4%2.6%266301338267291327370311326379450ProspectsforfuturefundinggrowthSource

1991-2001GrowthRatePercent

Futureoutlook

PBS/stations

4

-Stationfinancialchallengesmakeitimpossibletoincreaseassessmentsabsentverycompellingcase

Corporateunderwriters5

AbilitytojoininrecoveryofTVadmarketthreatenedbyturnoverofkeyunderwritersandcommercialcompetitionCPB

3

Federaldeficits,fiscalenvironmentthreatenrequestedincreases

Foundations

9

Slowergrowthlikelyasfoundationsstabilizegivinglevelsafterrapidincreasesinthelate1990sandshrinkingendowmentssince2000

Independentproducers

8

Continuedgrowthuncertain

Governmentagencies

9

Threatenedbygovernmentdeficits

Other

10

Toosmalltomakeadifference

43211CHALLENGES:INCREASINGLY,NATIONALPROGRAMMINGDOLLARSHAVELESSLEVERAGERELATIVETOCOMPETITIONGrowthRate

19.9%

Programming

investmentof4

comparablecablenetsAnnualprogramminginvestment,1993-2001$MillionsSource: Kagan'sEconomicsofBasicCableNetworks2002;TVProgramInvestor;PBSNPSoriginalbroadcastandre-upspendingGrowthRate

4.7%Averageinvestment$41M/yearPTV

investment$334M/yearPTVinvestment$450M/yearAverage=$183M/year8:12.5:112CHALLENGES:INDEPENDENTCOMMERCIALBROADCASTSTATIONSFACESIMILARPRESSUREANDARERESPONDINGWITHSIMILARSOLUTIONS–INCREASESCALEANDIMPROVEPRACTICESPressureonlocalnews–thecashcowfrom:AudiencefragmentationGreatercompetitionRatingsforsyndicatedprogrammingdownwhilecostsareupDecreases/eliminationofnetworkcompensationDifficultadmarketDTVmandatesThreatfrommoreO&OsIndustryPressuresAcquisition/consolidationtoachievescaleProgramacquisitionTechnologyinvestment(e.g.trafficoperations,salessystems,graphics)Sharedservices(e.g.accounting,HR)Upgradeofsalespracticesandsystems(e.g.pricing)IndustryResponses13OPTIONS:WEBEGANTHEPROCESSBYDEFININGASETOFCRITERIACriterion1:Likely,large,andnear-term:represents>$10Mnetperyearwithin5years,basedonclearbusinesscasefromcompellinginternalexamplesorrelevantexternalbenchmarksCriterion2:UnderPTVcontrol:Achievingtheopportunitydidnotrelysolelyona“happyaccident”outsideofthesystem’scontrolCriterion3:Nomajorstrategicissues:pursuingthiswouldnotrequiremajorconsultationtoreassess/reaffirmthestrategy,mission,positioningofPTV14OPTIONS:ABROADRANGEOFIDEASWERECOLLECTEDTHATWEBELIEVEDMIGHTMEETTHECRITERIATraditionalRevenueSourcesA.MembershipRetentionMajorGiftsCostsofMembershipB.UnderwritingNationalSalesUnwiredNetworkSalesLocalC.FoundationsD.LocalPartnershipsE.FederalDollarsDept.ofEducation,NEASpectrumAuctionTaxonInternetAncillarySourcesA.OtherPlatformsCableVODTivoOnlineB.RightsMgt.Video/DVDLicensingDomesticSyndicationInternationalSalesDigitalTelevisionA.NewServicesDistanceEducationDatacastingHomelandSecurityISPWorkforceTrainingGovernmentServicesNonprofitServicesMemberSubscriptionsTVMulticastB.FederalSupportB.CollaborationMasterControlCommercialPartnersMembership/UnderwritingSalesC.TechnologyInterconnectionAssetManagementMasterControlA.ThirdPartyFundsNationalProgrammingFundCo-ProductionB.ChangeProgrammingMixC.IndividualProgramsLowerPer-HourCostIncreaseRepeatsSystemEfficienciesProgrammingA.ImproveLowerPerformingStations15OPTIONS:WEANALYZEDTHEIDEASAGAINSTEACHCRITERIONCriterion3-NomajorstrategicissuesCriterion2:UnderPTVcontrolCriterion1:Likely,large,nearterm:MajorgiftsMemberretentionMembershipcostNationalunderwritingLocalunderwritingFoundationfundraisingCableChannelDomesticwindowingVOD/TIVONewdigitalservicesIncreasedfederalsupportforDTVRightsmanagementSystemefficienciesNeedastrategicplantopursueCableChannelDomesticwindowingPrepareforbutavoidover-investmentVOD/TIVOIncreasedfederalsupportforDTVGoodideasbutinsufficienttosecurefinancialhealthNewdigitalservicesMemberretentionMembershipcostLocalunderwritingMajorgiftsMemberretentionMembershipcostNationalunderwritingLocalunderwritingFoundationfundraisingVOD/TIVONewdigitalservicesIncreasedfederalsupportforDTVRightsmanagementSystemefficienciesMajorgiftsMemberretentionMembershipcostNationalunderwritingLocalunderwritingFoundationfundraisingNewdigitalservicesRightsmanagementSystemefficienciesMajorgiftsNationalunderwritingFoundationfundraisingRightsmanagementSystemefficiencies16OPTIONS:THREEPOTENTIALSOLUTIONSPASSEDEACHSCREENExpandmajorandplannedgivingeffortsPursuecostsavingsthroughstationandsystemefficienciesImprovemodelforNationalProgramming17 * Basedoncasestudystations,includingKUED,OPTV,KNPB,andWGBHSource: Stationinterviews;McKinseyNonprofitPracticeGivingpyramidfortypicalstationbeforelaunchingmajorgifteffort*GivingpyramidfortypicalstationafterlaunchingmajorgivingeffortMajorgivingrevenue6%94%13%87%SOLUTIONS:MAJORGIVINGHASAPOTENTIALIMPACT–$20-$35MILLIONNETREVENUEIfallstationscouldseecomparableimprovements,systemcouldraise$20-35millionnetrevenue18SOLU視TION缸S:C僻ASE想STUD負IES叫OFFE鈴RUS妻EFUL擱ROL你EMO吃DELS敘FOR董STA勻TION臨SLA磁UNCH魄ING映HIGH籌TOU攏CHD古EVEL寇OPME繭NTE狗FFOR金TSSour鋤ce:村Sta乓tion腦dat子a(K故LRU,破KNP腿B,O閉rego稈nPT膝V,a列ndK等UED)Cost陶per摘dol尾lar茶rais賺edPerc銜ent4.76.02.0-17.議2.9KNPB絲式’sm傘ajor阻giv徹ing堅effo湊rtw經ass閉ucce感ssfu肚lbe巴caus突eth瞞eya秀ggre沉ssiv寄ely聾targ享eted譜hig映hne碎two員rth抄indi撫vidu厲als詞for惹larg個egi泛fts$Th偽ousa路ndsKLR村U’s盼ma助jor府gi上vin集ge纖ffo針rt乎gre美w~蔑3t繩ime居sa腥sf向ast糕as瘦th背eir康re袖gul集ar汁mem殖ber池shi恥pe醉ffo份rts$T慌hou種san購dsOreg大onh彼asb貓een溝succ失essf答ulb雀ecau佳set歇hey桂expa沙nded帆af自ull叢rang速eof顏hig超hto堵uch平deve礎lopm河ent繳effo疊rts,騎inc汽ludi經ngm吩ajor延giv榨ing,疼pla舊nned城giv艇ing,曲and構an幕endo館wmen診tfu諒nd$Th料ousa尋nds7590113Num罩ber冤of已ma絲式jor磚do施nor歌s27477110625.6Mid影lev左el越giv金ingMajo紛rgi贏vingPlan減ned般givi金ngEndo狗wmen陳t348082122112Numb諷ero僻fma噴jor忙dono盜rs76385N/A9512733.舌6**1,7鳥01787460615697Cost仙per坊don其or$0814575N/A960632-10鍬.4*鞏**KUED帳’sl備ong-北term治inv炒estm疏ent皆inm砍ajor廁giv撥ing鴨has散led令toa面ten綢-fol領din脅crea芹sei她nth斗isr棕even集ue$Th墻ousa沉ndsGrow渴thR帝ate25.遙5**1,4鞭202,17擴43,05旗43,79吹04,51紗97,85曾38,49糟5Grow億thR惹ate28.柏9Grow判thR擇ate14.妨019SOLU默TION哄S:S超UCCE斥SSR拆EQUI槐RES鴨SIGN耳IFIC鼻ANT冶ACTI話ON*De這fine孩das廈sta餡tion惱swi疑thn裂oor刺lim島ited仁maj坊org覽ivin叫gef宮fort鵲sor蝕rep尚orti負ng,凝less通tha和n6%椅of恢tota固lme根mber桑rev肚enue行sfr懸omm忍ajor幻玉gif棉ts)**D抬efin餐eda藝sst婦atio瞞nsw胃here學maj驅org掃ivin丹gre砌venu拿esa鏈ccou惱ntf漠or6越-13%伙of飛tota句lme以mber圍rev瞧enue***D賺efin步eda脂sst緒atio滔nsw葛here姑maj導org慮ivin丈gre易venu盼esa尺ccou灣ntf撲or+抄14%郊oft治otal注mem芝ber怎reve離nueSour刺ce:禽SAB叛SSta誘tio掙ns兼seg年men明ted約by孕ma攝jor售gi扯ft秋eff米ort遭sTot綠al=176$37快4MNum診ber鋪of躬st孤ati固onsTot訂al掀mem想ber覺re態ven鴿ueStro錢ngm蕩ajor黃gif胖tef平fort圾***Limi爆ted失majo鍋rgi煎fte罷ffor然t*Some尾maj辯org軌ift瘋effo榴rt**Est威abl凝ish雄fu略ll紀ran玩ge卷of邁hig沉ht稈ouc棍hd窯eve希lop拿men每te秘ffo句rts登(i偵.e.僅,m覽ajo堆rg衡ivi驢ng,司pl段ann逼ed記giv升ing桂,e演ndo輪wme敘nt且dev朵elo晉pme預nt)Opp翠ort淹uni裕tyPote逢ntia希l$10桂-20倍Mn翅et牛rev準enu涂eRais季ecu謙rren木tef摩fort購sup器to獄best患pra碌ctic拋e(e粥.g.,雪imp智rove錄exi士stin邁gma血jor秤givi敬ng,在expa示ndm極enu在ofh藏igh積touc嚇hde吸velo帽pmen位tof痛feri下ngs)$8-拔15M付ne掀tr丹eve雖nueCont懶inue忠eff屬orts閱to亭achi狗eve憤full迷pot任enti漁alTot驗al企unk現now鉤n$20-濃35M+20SOLU翼TION擇S:M物EMBE庭RSHI狀PST魔AFF發OUTN愧UMBE治RSM拍AJOR茅GIV借ING杠STAF懂FOV哪ER6踏:1Sou算rce瞧:氧SAB誤SServ杠eov齊er1辣.5m癢illi偶onm每embe鉆rsa出ndo碧ver行$120丘mil撞lion惕in砍reve捕nueServ皆e85盆00m計ajor蒸giv輛ers會and司over嬸$40跨mil登lion談in者reve杰nue21SOLU卡TION辨S:K蟲EYE濤LEME巾NTS唐OFO佩URP低LAN餐WILL捧INC怎LUDE找DEV鄭ELOP貨ING愉CAPA他CITY袍AT躺STAT導IONS商–W薪ITH例GMs廈AND很BOAR予DS,行ASW作ELL危ASW丟ITHI膨NDE島VELO巷PMEN并TDE勿PART狠MENT掉SBenchmarkstoFocusOurEffortsIDmajorgivingcohortsSetkeystationbenchmarksTrackimprovementCommunicationCampaigntoEnsureBuy-inClearunderstandingofourpastIdentifychangeagentsandearlyadoptersIdentifystationsuccessfactorsToolkitstoSupportImplementationDesignandimplementnewprogramsforGMsandBoardMembersCreateaninventoryof“whatweknow”Createcopypoints,jobdescriptions,etc.CreationofaNationalEnvironmentforSuccessPeer-to-peerGMnetworksLaunchnationalcampaignAddt’lfinancialincentivesIdentifyeconomiesofscaleinmembershiptofreeupresources22McKi滑nsey糖Stu扯dySOLU牲TION壺S:S許YSTE熟MWID義EOP顛ERAT暢IONA爭LEF頑FICI疲ENCI挽ESH食AST松HEP弦OTEN豬TIAL雅FOR填$40于-$買200框MILL虧IONCen午tra氣liz炕ed夕Mas珍ter辣Co茶ntr找olRegi寄onalNat密ion忙alCons薄olid陣ated貸tra烈nsmi漂ssio繩nfa脈cili連tiesFul推ly趴aut別oma贈ted黎tr未aff爐ic生man收age揉men多t&袋sc脂hed果uli麥ngCen做tra振liz歇ed和Ing舅estPro聲duc猶ing墳ce訂nte著rsInt耗erc冠onn階ect皇ion序PO妹PCon筐sol售ida航ted追ar拳chi第vin瀉gCent浴rali穿zed/復nati歸onal敘pur琴chas劉ingCons烈olid秧ated辟IT/被Telc瘋omf博unct息iona祥lityAdm架ini武str摸ati略ve/釣Bac丈ko牛ffi音ce煎con惹sol楊ida燈tio款n=Opp薯ort澆uni礦ty拆Cos知tS反avi病ngs$$Booz濾All欲enS鋼tudyAcc毒ent繁ure惱St休udy23SOLU帖TION胸S:B丈ROAD學CAST餓OPE耽RATI吩ONS拌WORK羞FLO大WSP畜ROJE駐CTDEC艘ISI糾ONIMPL鑼EMEN雀TATI營ONANA到LYS夾IS涼&P輛LANDEVE施LOPM倉ENTCOMM役UNIC鋒ATIO闊NSLAUN鴉CHTechConfpresentationCPBroundtablesTDCReviewStationmemosExpandworkingteamCommunicatevaluetostations2-3commoncauseprojectsTrackbookedcostsavings12-18monthsReviewprojectsquarterlyFullPTVimplementation?CPBSABsdataPreviousstudiesReviewpastOEprojectsMcKinseyassumptions&analysisDevelopimplementationplan24SGs漆ells粉add迅itio宇nal塑spon勤sors繭hipInv隸ent躁orySOLU姨TION筋S:N系ATIO埋NAL例PROG上RAMM炎ING’色SOB鋸JECT繪IVE押–ID群ENTI酸FYI破MPRO踏VEME城NTS荷INV珍ALUE南CHA拐IN(印NEW詞PROC否ESSE廈S,D掃IFFE雷RENT壁ROL節ES)ResearchCommissioning/rightsacquisition/fundingSponsorshipsales/int’lpostsalesPromotion/stationoutreachBackendrightsexploitationSet級pr塊ior理iti構es/疼ag振end棄aComm業issi陡onp蹦roje奴cts/有ana怖lyze離res磁ultsSyn仇the塵siz默ea湖ll糧fin妹din喊gsShar引e/d舉istr聲ibut哈efi茫ndin辣gsSet膊st情rat觀egyDefi霉nef雅utur周esc嚼hedu贏lep騰lan/丸goal辱sDevi壇sem圍etri催cst刊ome菊asur熟esu販cces損sLoc諸al戒und返erw室rit旗ing執sp侵ots夸so外ldDist孟ribu尖tion類agr土eeme頂nts跪madeInv蠟ent勸ory辣/m強anu燙fac衣tur歡ed跳sto貝cke燦dSale墻sSche勤dule豈a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