Through a period of great  structural change, Fairfax has  maintained its core vales of  independence and integrity. We have a proven track record of growing smaller digital businesses.  We will continue to look at our digital businesses and new opportunities  in terms of both value and earnings.  We are also pursuing several revenue opportunities where we will take an  existing niche presence that sits within Fairfax, imposing more structure  around our activities, and building a substantial business: •  Events  – Fairfax currently generates more than $25 million of revenue  a year from Events across the Group, and real potential exists to expand  these activities. Our Events activities are currently structured as an  adjunct to our other businesses, and have succeeded because we  only organise events that leverage Fairfax’s audiences and capabilities.  Our broad reach provides a real boost to mass participation events such  as fun runs and ocean swims, while The Australian Financial Review  leverages our strong content, editorial positions and brands through  events including the Future Forums and Women of Influence. We also  do well organising events in verticals where we have a leading presence,  such as the connection between Good Food Month and our Good Food  Guides. We see a three to five year opportunity to build a business that  is several times larger than our existing Events activities; •  Content Marketing  – there is a significant revenue opportunity  for a separate business arm that produces and supplies content for  third-party customers, including provision of content for third-party  newsletters, websites and apps. Today, around 25 per cent of marketing  budgets in Australia are allocated to content marketing, with spend in  the area growing at around 20 per cent annually. As Fairfax has strong  City2Surf in William Street. PHOTO: STEVE CHRISTO THE SYDNEY MORNING HERALD PHOTOS 1440 10 ChIEF EXECutIvE oFFICER’s REPoRt