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Hello everyone and welcome to Ed Barrens. I'm Andy Surwer and welcome to our guest, Daisy Vera Singham, who is the CEO of the AP.

Daisy, nice to see you. Thank you very much for inviting me.

So I want to start off by asking you to tell us about the business model of the Associated Press. How does the business of the AP work?

So the AP is an independent not-for-profit news organization and we're predominantly a B-to-B provider.

So think about any media or information business anywhere in the world. Ch chances are they're a customer of the Associated

Press. And so how does the model work for those customers then? They're subscribers. Yeah, so predominantly

it's a licensing or subscription models. There are some variable models to deal with services,

but it's predominantly a licensing model. That has begun to change as all news organisations are thinking about how do they diversify the revenue streams that support them.

So we have recently in the last few years moved into more of a direct to consumer strategy as well.

It's not a big part of what

we do, but it is part of our diversification strategy. Yeah, I want to ask more about that

diversification in the DTC, the direct-to-consumer part. But first, how long have you been

CEO, number one, and number two, who owns the AP? Okay, so I am about to complete four years,

CEO of the Association of the Press.

And I think who owns the Associated Press?

Well, nobody does really.

I think that's what makes it truly independent.

It started in 1846 as a newspaper cooperative.

It was a way of sharing costs essentially to cover the United States.

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