#editors13: Why El Pais is investing at a time of crisis

Spanish news oulet El Pais launched a news site for Latin America on the day the first Argentine pope was announced. That may have been a timely advantage for a publisher based in an economy hit by crisis.

In a talk at the World Editors Forum in Bangkok, Javier Moreno, the news outlet's editor, explained why El Pais is investing despite the crisis, with a focus on digital and Latin America.

Moreno explained that El Pais was founded in 1976, with the values of "independence and the defence of democracy" helping it to become the top-selling newspaper in Spain.

Between 1976 and 2007 there were "the glory days", Moreno said. El Pais was selling 450,000 copies on a daily basis and in 1992 sold more than 1 million newspapers on Sundays. And with rising circulation came increasing revenues.

But the glory days were not to last. Now circulation is falling, with figures for the daily at  300,000 last year and Sunday sales at 455,000 copies – less than half the peak 20 years earlier.

Revenues declined too. In 2005 they peaked at €453 million; in 2012 the figure was €193 million, a drop of 57 per cent.

"We were fully unprepared for that change," Moreno said.

He explained that El Pais made a loss for first time ever in 2012, which was a dramatic blow to everyone: shareholders, readers and newsroom staff.

The headcount of 456 employees was reduced to 327, with 129 people laid off, close to one third of the staff.

But the title decided to invest despite the crisis. They decided not to cut foreign reporting, an unusual move in such circumstances, and they focused in digital.

Before crisis hit in 2008 El Pais had two newsrooms in two different buildings: one for print and one for digital. These merged in 2009 and the title became 'digital-first' in 2010.

Technology was a key factor, Moreno said, explaining that the "tech guys sit in middle of the newsroom". This proved hugely beneficial when the news outlet received Wikileaks documents and technologists were able to build a database in just three days.

Another goal was to reach out to Latin America. "We wanted to become the number one provider of news in the Spanish-speaking world," Moreno said.

The publisher has invested, expanding staff in Mexico from two to 12 and extending the network of stringers throughout South America.

El Pais launched a site for Latin America in March and early figures show encouraging increases in visitor numbers.

So how did it achieve expansion in a time of crisis? Moreno said it is down to decision-making ability, leadership and values. "Keep your values, change everything else," urged Moreno.

Journalism.co.uk is in Bangkok for the World Editors Forum. Follow@SarahMarshall3, @JohnCThompson and #editors13 for updates.

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