
We have transformed newsrooms and built subscription businesses. Now we help audience-led organisations do the same
HBM Advisory is built by two people who spent their careers inside the kind of businesses they now advise, leading digital transformation at The Times and The Economist.
Our first clients were news publishers, but the work we know best – turning attention into loyalty, and loyalty into revenue – applies just as directly to charities, membership bodies and arts institutions with audiences to serve.


Advisory
We draw on hands-on experience leading editorial and commercial teams to help you unlock growth, sharpen your business model and align content with strategic goals. Our tailored advice is grounded in real-world success and delivers actionable plans shaped to your unique context
Content Review
Content Review merges AI-driven categorisation, advanced statistical modelling and human expertise to offer clear, actionable plans to improve content profitability. We’ll identify which articles, topics or formats perform well, but also we explain why they resonate with your audiences
Building lasting loyalty from every kind of audience has got harder
For publishers, search is turning into an AI-driven answer engine rather than a source of clicks; social referral has thinned out; and the commoditisation of news continues apace.
For all organisations that lead with content, there is more competition for attention and a need to build a loyal, habitual audience.
The winners are building direct relationships with the people who matter to them: a clear reason to engage, a clear reason to pay or give, and real habit rather than one-off attention.
We help organisations make that shift, practically, quickly and effectively.
Three ways to work with us
Clear-eyed diagnosis,
and a plan that works
When growth stalls, when editorial or programme teams and the commercial side are pulling in different directions, or when leadership needs a clear-eyed diagnosis of what is actually broken, we go in and work it out with you. Newsroom transformation, subscription growth, audience strategy, AI readiness – we’ve been responsible for all of it ourselves, in newsrooms and beyond, so our recommendations are built to survive contact with how your organisation actually works.
What performed – and why
Most content audits tell you what performed. Ours tells you why, combining AI-driven categorisation and statistical modelling with editorial judgement to show which stories, topics and formats are actually worth your newsroom’s time, and which are quietly costing you money. The process takes weeks, not months, and is grounded throughout in what we know about how newsrooms really work.
A confidential sparring
partner for leaders
Agreement is easy to find at the top of an organisation. A genuine challenge to your thinking is rare – your team wants to please you, your board may not know the sector well enough to push back, and a traditional consultant hands you a framework rather than an argument. 121 Consulting is a confidential sparring partnership for leaders working through a pivot, a launch or a board presentation they haven’t quite pressure-tested yet. You bring the idea, we argue it through with you as peers who’ve made these calls ourselves, and you leave with a position you can defend.
A half-century of running the businesses we now advise


Michael Brunt led The Economist’s evolution into a digital subscription business and gave The Times its highest ever growth.
Alan Hunter led digital transformation at The Times and The Sunday Times as the two print stalwarts embraced new ways of working.
Between us, we’ve launched paywalls, rebuilt newsrooms around subscription rather than volume, and sat around the conference room table when the numbers didn’t work and something had to change.
We use AI the way any serious operator does now: for research, for pattern-finding, for speed. But a plan that survives your organisation’s politics, incentives and habits still takes people who’ve lived through exactly that. That’s us.
Publishers, charities and cultural institutions



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Selected clients
Hear from our clients
Alan and Michael understand that growing the digital circulation of a publication requires a holistic approach that both the editorial and commercial teams can buy into
Elizabeth Bramson-Boudreau, MIT Technology Review
By taking stock of reader behaviour through data, the newsroom’s own perceptions of its strengths and weaknesses and subscriber interviews, HBM Advisory produced a comprehensive piece of research that acted as the foundation for our future direction
Emma Tucker, Editor-in-chief, The Wall Street Journal
Let's talk
We love talking about the content business, to share our experience and provide advice. Please use the form here to make an enquiry or to set up a meeting



