Digital media consultant Mark Challinor continues the News Horizons series by talking to the people shaping tomorrow’s media. Today, Bartosz Hojka, president of the management board and CEO, Agora Group, Poland is in the hot seat.
For more than a decade, Bartosz Hojka has steered Agora Group through a sweeping transformation that has cemented its position as Poland’s largest media company, reaching nearly 18 million people daily.
Under his leadership, Agora has expanded its dominance in cinema and out-of-home advertising, built a thriving film arm, and scaled its radio business through a landmark merger, while also driving Wyborcza to pioneer digital subscriptions and amass over 300,000 paying readers. With revenues up 4% and operating profit soaring nearly 60% in the first half of 2025, Hojka’s formula, anchored in real-world assets, trusted brands, and pragmatic use of AI, has delivered resilience and growth in a fast-shifting media landscape.
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Agora’s success stems from a multi-faceted approach that spans print, radio, digital, outdoor advertising, and cinema. This isn’t just about having multiple irons in the fire; it’s about creating a self-reinforcing ecosystem where each part supports the whole.
Advertising: The profit engines
Roughly half of Agora’s total revenue comes from advertising, with its radio and outdoor advertising (OOH) segments proving to be the most profitable.
Hojka calls these “real-world moats.” It’s hard for a tech giant to build a network of nearly 100 radio stations or manage 17,000 outdoor ad facias overnight. These traditional assets provide a stable revenue base and a bridge to digital growth.
For example, Agora’s AMS division, a leader in Polish OOH, has seen its digital out-of-home (DOOH) revenue grow at an impressive pace, a trend Hojka sees continuing.
Subscriptions: building direct relationships
While advertising is key, the future of the news business is in subscriptions. Hojka notes that Agora’s flagship newspaper, Gazeta Wyborcza, now gets nearly 50% of its revenue from digital sources.
With roughly 300,000 subscriptions, Wyborcza stands alongside Europe’s top news brands, a testament to the audience’s willingness to pay for quality, trusted journalism.
This subscription model extends to other areas, with radio station TOK FM building a committed subscriber base of over 50,000 for its paid audio content.
Other revenue: the untapped goldmine
The diversification extends to Agora’s Helios cinema chain, where revenue comes from ticketing, concessions, and on-screen advertising.
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Hojka points out a fun fact: the youngest audience in their entire portfolio isn’t found on TikTok or Instagram, but in the movie theatre, where kids and teens still flock to the big screen.
This mix of revenue streams, from popcorn sales to film distribution, ensures that when one market segment faces a downturn, others can pick up the slack.
Hojka on the evolving media landscape
Hojka sees the media world in a state of constant flux, with three major challenges and opportunities at the forefront,
The AI inflection point: Hojka views AI not as a silver bullet, but as a historic inflection point. While it can be a useful tool to automate newsroom drudgery, it poses an existential threat to independent media by illegally reusing content without compensation. His solution is simple: double down on quality journalism and trusted brands that can’t be replicated by an algorithm.
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The power of brand: In a world saturated with low-effort content, a strong brand is the “best insurance against uncertainty.” Agora’s brand strategy is rooted in core values like truth, integrity, and democracy, which Hojka believes are signals that cut through the noise. This brand strength, he argues, allows the company to invest strategically and acquire complementary businesses that reinforce its market position.
The digital battle: Hojka is bullish on digital subscriptions and audio. He sees a future where media companies survive by cultivating a direct, value-based relationship with their audience, moving away from a reliance on the ad revenue captured by global tech platforms. This direct connection, whether through podcasts or digital news, is where the most significant growth lies.
Challinor’s summary
There were three main points I took from my conversation with Bartosz:
The death of the old model: The traditional advertising-funded model, particularly for local media, is becoming obsolete. The money that once supported high-quality, investigative journalism is now flowing to tech giants in Silicon Valley.
The rise of subscriptions: Hojka is firm on this point: the future of news is in subscriptions. He believes that in a world drowning in free content and fake news, people will increasingly pay for a strong, trusted brand. Building a direct, value-based relationship with the audience is the ultimate goal.
The AI challenge: The rise of generative AI is not just a technological shift; it’s a profound challenge to the entire industry. It lowers entry barriers and makes it even harder for trusted brands to stand out. Hojka argues that this makes a strong, recognised brand the best insurance for an uncertain future.
In Bartosz’s view, the news industry must stop being a victim of circumstance and become a master of its own destiny. By focusing on diversification, cultivating a direct relationship with the audience, and leveraging brand strength, Agora is providing a playbook for media companies looking to not just survive, but thrive.
Last week, Mark talked to Dr Rainer Esser, CEO of Germany’s Die Zeit.