We are announcing today some changes to the Boards.ie company structure that will be taking place over the coming weeks, in particular the integration of Boards.ie Ltd. (the company that owns and runs boards.ie) with Journal Media Ltd. (the company that owns and runs thejournal.ie).
Since its launch over 20 years ago Boards has grown from a single Quake forum into one of Ireland’s largest and most popular websites. During its history it has undergone a number of changes in company structure and ownership, most recently separating its sales operation from daft.ie and adverts.ie in 2015. One of the reasons behind this move was because we believed that Boards could be more competitive and could win more advertising business if it operated independently. And indeed this was the case, in the three years up until the end of 2017 Boards grew its revenue by 37%, an important achievement given we plan for Boards to be around for many more years to come and in order to do that we need to make sure it is a financially sustainable business.
However, over the last 6 to 9 months we have seen some significant changes in the digital advertising market in Ireland which is where Boards generates the majority of its revenue. A trend has emerged where advertisers are increasingly choosing to advertise with a smaller number of larger publishers with large audience reach. What this means for Boards is that we are having to work harder and harder to generate the same amount of business as in previous years and it has become clear to us that if this trend continues we will struggle as an independent site. In our view the solution is to become part of a larger group which will allow us to continue to generate the revenue we will need to maintain, grow and develop the site.