INNOVATIONS IN MAGAZINES 2011

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  • BEYOND THE TABLET, WE FOUND MANY MORE EXCITING INNOVATIONS THAT WERE CHANGING THE WAY WE DO BUSINESS. AT FORBES, THE NEW CHIEF PRODUCT OFFICER LEWIS D’VORKIN HAS...
  • Farmville has over 62 million active users and over 24.6 million Facebook application fans as of September 2010. [5] Ten percent of all Facebook users play it. Not launched at press time, e-commerce co. Alvenda, subscription seller Synapse, and Time Inc. collaborated to create a Facebook service
  • INNOVATIONS IN MAGAZINES 2011

    1. 1. www.innovation-mediaconsulting.com
    2. 2. INNOVATION MEDIA CONSULTING WORLD LEADERS IN HELPING PUBLISHERS RE-INVENT THEIR TITLES FOR THE DIGITAL AGE DESIGN + CONSULTANCY INNOVATION INNOVATION
    3. 3. ‘ GOOD JOURNALISM IS GOOD BUSINESS’ INNOVATION
    4. 4. 1. HOW TO PROFIT FROM SOCIAL MEDIA 2. WHERE IS THE MONEY IN THE DIGITAL AGE? 3. HOW DO WE GROW THE PRINT MAGAZINE 4. ARE APPS OUR SALVATION? INNOVATION INNOVATION
    5. 5. <ul><li>‘ LIFE WAS EASIER WHEN AN APPLE AND A BLACKBERRY WERE JUST FRUITS’ </li></ul>INNOVATION
    6. 6. <ul><li>‘ LIFE WAS EASIER WHEN AN APPLE AND A BLACKBERRY WERE JUST FRUITS… </li></ul><ul><li>BUT IT’S NOT AS EXCITING AND POTENTIALLY PROFITABLE </li></ul><ul><li>AS IT IS TODAY’ </li></ul>INNOVATION
    7. 7. INNOVATION
    8. 9. iPad IS THE GREATEST PLATFORM INNOVATION SINCE GUTHENBERG - LACK OF INNOVATION FROM PUBLISHERS INNOVATION
    9. 10. RATING IPad Apps 2.2 Magazines (Source App Store) GQ Magazine Vanity Fair National Geographic Paris Match Der Spiegel L’express Wired Time Magazine Newsweek The New Yorker INNOVATION INNOVATION
    10. 11. AVERAGE RATING 2.5 IPad Newspapers (Source App Store) USA Today Die Welt De Standaard The New York Times Financial Times New Zealand Herald Evening Standard Le Monde Corriere della sera INNOVATION INNOVATION
    11. 12. <ul><li>SENSE OF SALVATION </li></ul><ul><li>PERHAPS OUT OF DESPERATION </li></ul>INNOVATION
    12. 13. <ul><li>WILL THE IPAD </li></ul><ul><li>AND TABLETS OFFER </li></ul><ul><li>A SECOND LIFE </li></ul><ul><li>TO MAGAZINES? </li></ul>INNOVATION
    13. 14. <ul><li>YES </li></ul><ul><li>IF PUBLISHERS </li></ul><ul><li>RE-INVENT THEIR TITLES </li></ul><ul><li>NO </li></ul><ul><li>IF WE RE-PURPOSE </li></ul>INNOVATION
    14. 15. <ul><li>HEARST </li></ul><ul><li>$10 MILLION IN SUBSCRIPTION BY SUMMER </li></ul><ul><li>CONDE NAST </li></ul><ul><li>$15 MILLION IN 2011 IN SUBSCRIPTIONS AND AD REVENUE </li></ul>INNOVATION
    15. 16. YOU CANNOT POUR OLD WINE INTO NEW BOTTLES INNOVATION
    16. 17. WE HAVE TO REINVENT THE WAY WE TELL STORIES IT'S THE JOURNALISM NOT THE PLATFORM INNOVATION
    17. 18. NEW GRAMMAR FOR NEW MEDIUM INNOVATION
    18. 19. STORIES YOU CAN READ WATCH AND TOUCH INNOVATION
    19. 20. DESIGN FOR EYES AND FINGERS INNOVATION
    20. 21. EXPERIENCE MORE IMPORTANT THAN BRAND INNOVATION
    21. 22. THE iPad as PDF? INNOVATION
    22. 23. THE iPad as A MAGAZINE ON STEROIDS? INNOVATION
    23. 24. THE iPad as SHOVELWARE? INNOVATION
    24. 25. MORE PRINTY LESS WEBBY NEITHER PRINTY OR WEBBY INNOVATION
    25. 26. IT'S AN APP! INNOVATION
    26. 27. WE NEED MORE DEMOS AND LESS MEMOS INNOVATION
    27. 28. DIFFERENT CONTENT FOR DIFFERENT PLATFORMS PAPER - LONG NARRATIVE TABLET - DEPTH AND EXPERIENCE MOBILE - INSTANT NEWS INTERNET - BREAKING NEWS, BROWSING, ARCHIVES, AGGREGATING, HYPERLINKING... INNOVATION
    28. 29. THE iPad as Infographics Unique Video Slideshows Caricatures/Art INNOVATION
    29. 30. ONE MAG MANY APPS INNOVATION
    30. 31. WE MUST UNBUNDLE THE BUNDLE INNOVATION
    31. 32. DISAGREGGATE 3 STRANDS INFORMATION SERVICES ISSUES AND PASSIONS INNOVATION
    32. 33. TABLETS AS PREMIUM INNOVATION
    33. 34. iPad means iPay INNOVATION
    34. 35. FREE is very EXPENSIVE INNOVATION
    35. 36. PRODUCE MORE FOR THOSE WHO PAY AND LESS FOR THOSE WHO DO NOT PAY INNOVATION
    36. 37. SINGLE ISSUE SALES DO NOT WORK SUBSCRIPTION IS THE WAY INNOVATION INNOVATION
    37. 38. WE ARE MOVING TOWARDS AN APP-BASED WORLD WHETHER IT BE TABLETS OR MOBILE – WHICH RIGHT NOW HAS A MUCH BIGGER POTENTIAL INNOVATION INNOVATION
    38. 39. INDIA 2007 INNOVATION INNOVATION
    39. 40. INDIA 2009 INNOVATION INNOVATION
    40. 41. INDIA TODAY INNOVATION INNOVATION
    41. 42. 48 Innovations in Magazines World Report 2011 THE INNOVATION : • Personalizing your digital information feed in a magazine format on a tablet • Taking your social media feed and blending it with a news feed and slick pics WHAT WE THINK • Flipboard and then Zite beat us to the punch. • Simplifying and aggregating our daily information flow is a priceless service, AND it’s done elegantly, easily for the user INNOVATION
    42. 43. 22 Innovations in Magazines World Report 2011 THE INNOVATION : • Connecting with readers at the precise moment when they need information in a particular location • Hooking up with high-profile tech leaders to expand brand awareness THE INNOVATION : Bon Appetit, Good magazine, New York, Advertising Week, Vogue, People all have tens of thousands of followers they wouldn’t have
    43. 44. 23 Innovations in Magazines World Report 2011 WHAT WE THINK : Very simply, we need LOTS of platforms to leverage our content and reach our readers when THEY want us to reach them, not the other way around! INNOVATION
    44. 45. 26 Innovations in Magazines World Report 2011 THE INNOVATION : • Building (and selling) social games around your core content •  Elsevier created “Top Doc” medical diagnosis game • National Geographic : “Herod’s Tomb,” “Rain Forests” WHAT WE THINK : •  Casual gaming is exploding (200 million users play monthly). They are yet another audience • Casual games deliver content, reach a wider, younger, more female audience, and are very addictive INNOVATION
    45. 46. 25 Innovations in Magazines World Report 2011 THE INNOVATION : • Selling subscriptions via mobile devices • Selling “snack-sized” magazines for mobile consumption WHAT WE THINK : •  More and more consumers are living on their mobile devices •  This is another example of going where the audience is INNOVATION
    46. 47. 30 Innovations in Magazines World Report 2011 THE INNOVATION : • Offer fun, valuable, unique content instantly via mobile phones •  Make print pages come alive in creative ways • Let’s try it right now
    47. 48. 31 Innovations in Magazines World Report 2011 WHAT WE THINK : •  Augmented reality (AR) like 3D is fun ... but to what end? Is it worth the investment? • QR codes or 2D tags deliver useful content instantly on a increasingly ubiquitous platform. A no-brainer. INNOVATION
    48. 49. 40 Innovations in Magazines World Report 2011 THE INNOVATION : •  The year 2010 was a banner year for 3D covers • From glasses to augmented reality 3D covers and spreads, magazines pulled out the stops
    49. 50. 41 Innovations in Magazines World Report 2011 WHAT WE THINK: •  3D is not a gimmick; it drives sales and boosts brand awareness, but it’s a once a year type of tactic • “ What would people most like to see in 3D? Probably a naked lady” —  Playboy Founder Hugh Hefner INNOVATION
    50. 51. 42 Innovations in Magazines World Report 2011 WHAT WE THINK: •  3D combined with Augmented Reality can be a lot of fun and generate a lot of buzz INNOVATION
    51. 52. INNOVATION INNOVATION
    52. 53. JOURNALISTS SHOULD SPEND 10% OF THEIR TIME ON SOCIAL MEDIA VG NORWAY & OTHERS
    53. 54. 16 Innovations in Magazines World Report 2011 THE INNOVATIONS: • Every staffer must blog • High-quality outside bloggers are integrated • Advertisers are invited to publish content and “join the conversation with readers”
    54. 55. 17 Innovations in Magazines World Report 2011 WHAT WE THINK: • Staff blogs increase staffers’ connections with readers • Outside blogs increase breadth, depth of content • Advertiser blogs create relationships w/audience INNOVATION
    55. 56. 18 Innovations in Magazines World Report 2011 <ul><li>THE INNOVATION : </li></ul><ul><li>Promoting your content AND your advertisers content (but NOT their products) with regular fan page & Twitter feeds </li></ul><ul><li>WHAT WE THINK : </li></ul><ul><li>Contigo in Brazil: Subscriptions up 16% after creating Facebook campaign, which also was bulk of 46% ad increase ’09-’10 </li></ul><ul><li>INNOVATION </li></ul>WHAT WE THINK : •  Facebook, Twitter followers are fans of choice, promoting you exponentially to friends, driving traffic, building loyalty (which advertisers love) INNOVATION WHAT WE THINK : WHY is this critical? The NEW metric: ENGAGEMENT. No longer just PVs, uniques Now: FB connections, RTs, Social bookmarks, Tweets, comments, re-links, etc. INNOVATION
    56. 57. 19 Innovations in Magazines World Report 2011 THE INNOVATION : • Reader-generated content •  More magazines integrating it •  Some 100% RGC issues • olive in UK: 13% sales jump
    57. 58. 20 Innovations in Magazines World Report 2011 WHAT WE THINK : • RGC is absolutely essential •  YOU can no longer create all the “answers” to readers information needs in your niche • RGC increases relevance, reach, readership, revenue INNOVATION
    58. 59. 21 Innovations in Magazines World Report 2011 WHAT WE THINK : •  Let’s see: Sell subs on platform w/600 million members •  Keep ALL subscribers information • What’s NOT to like? •  Social coupon services exploding & are another platform for us INNOVATION THE INNOVATION: • Selling subs on Facebook (where readers spend 1/3 of their online time •  Offer stories on Facebook w/ads and subscription options • Use social coupon services like GroupOn for sub discounts
    59. 60. DIGITAL FIRST , YES. BUT DIGITAL ONLY IS NOT ENOUGH
    60. 61. FROM THE DIGITAL TO THE PHYSICAL WORLD FROM DIGITS BACK TO ATOMS
    61. 62. THE LONELIEST GENERATION OF CONSUMERS - UNILEVER EXECUTIVE
    62. 63. 36 THE INNOVATION : •  Taking successful web-only sites into print •  Determining what works on web and what works on paper
    63. 64. 37 WHAT WE THINK: •  A vote of confidence in our historical platform! • “ If you enjoy reading, or if you love to be stimulated by great visuals, or if you are looking to be surprised, then print can still win” —  Future Publishing Publisher Nick Merritt INNOVATION
    64. 65. THE PAPER OF THE 21ST CENTURY? INNOVATION
    65. 66. TABLETS OR PAPER? NO TABLETS AND PAPER INNOVATION
    66. 67. PRINT IS ALIVE AND WELL AND WILL REMAIN A PROFITABLE OPTION FOR DECADES – BUT NOT AS WE KNOW IT
    67. 68. Paper as PREMIUM Haute Couture Online and Mobile as MASS MEDIUM Pret a Porter INNOVATION INNOVATION
    68. 69. Less Circulation + Revenue CHARGE MORE 1X5 MULTIPLE INNOVATION
    69. 70. 46 INNOVATION : •  Identifying a brand with a global cause that resonates with readers: World Kindness Day • Partnering with corporate and media partners WHAT WE THINK: •  It works: Website traffic doubled; ad revenue increased 25%; newsstand sales went up 15% INNOVATION
    70. 71. EDITORIAL AND BUSINESS INTEGRATION IS ESSENTIAL TO COMPETE IN THE DIGITAL AGE – COOPERATION IS NOT INTEGRATION
    71. 72. YOU CANNOT EXPECT DIFFERENT RESULTS BY DOING THINGS THE SAME OLD WAY INNOVATION
    72. 73. 44 THE INNOVATION: •  Among many other industry leading innovations, Entertainment Weekly has led the way in creating a 24-7 content flow for their readers
    73. 74. 51
    74. 75. 57
    75. 76. 58
    76. 77. PAPER VERSUS ONLINE – IT’S A FALSE DICHOTOMY INNOVATION
    77. 78. NEWSROOMS IN A PERMANENT STATE OF BETA INNOVATION
    78. 79. WE NEED MANY, MANY DEVELOPERS IN-HOUSE AND OUTSOURCED INNOVATION
    79. 80. 1 DEVELOPER FOR EVERY 5 JOURNALISTS - BENCHMARK INNOVATION
    80. 81. INNOVATION INNOVATION
    81. 82. ONE DIGITAL KITCHEN MANY DIFFERENT RESTAURANTS
    82. 83. AUTHOR ONCE PUBLISH EVERYWHERE
    83. 84. THE NEW HOLY TRINITY: JOURNALIST + DESIGNER + DEVELOPER WORKING TOGETHER
    84. 85. Tablet & Mobile Workflow INNOVATION
    85. 86. WHERE’S THE MONEY? INNOVATION
    86. 87. 4 MAIN DRIVERS OF DIGITAL REVENUES INNOVATION
    87. 88. 3 WE DO NOT KNOW OR UNDERSTAND INNOVATION
    88. 89. E- COMMERCE SOCIAL CONTEXTUAL ADS AND COUPONS LEAD GENERATION INNOVATION
    89. 90. 1 WE THINK WE KNOW AND UNDERSTAND SUBSCRIPTIONS & SINGLE ISSUE COPY SALES INNOVATION
    90. 91. 35 THE INNOVATION : •  Enable purchases from your Facebook, website or app pages •  Use existing content to inform readers’ purchasing decisions • Increase revenue via % of sale WHAT WE THINK : • If our goal is to be essential in our readers’ lives, enabling informed purchases meets that mission • Offer complete shopping experience. Why send them elsewhere? •  Make more money? Duh! INNOVATION
    91. 92. 32 THE INNOVATION : • UK’s Emap — From free to paid: 20% increase in subs; 5% renewal hike; increased ad revenue • Charge for unique content available nowhere else • Create new pay-for products, like webinars, e-learning modules, special publications
    92. 93. 33 WHAT WE THINK : •  Produce more for those who pay than for those who don’t •  No extra value having exactly same pub on app as you already have in print or online • Create completely different but complementary content INNOVATION
    93. 94. TO CHARGE OR NOT TO CHARGE FOR ONLINE CONTENT?
    94. 95. TO CHARGE OR NOT TO CHARGE FOR ONLINE CONTENT? THAT IS NOT THE QUESTION
    95. 96. TO CHARGE OR NOT TO CHARGE FOR ONLINE CONTENT? THAT IS NOT THE QUESTION THE QUESTION IS, WHAT CAN WE CHARGE FOR?
    96. 97. “ The internet replaced the economics of scarcity with economics of abundance and all of us are dealing with the consequences of that.” Eric Schmidt, Google – Eric Schmidt, CEO and Chairman, Google Inc.
    97. 98. ECONOMICS 101 &quot;... (Economics is) the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.&quot; – Lionel Robbins, 1932 Scarcity means that available resources are insufficient to satisfy all wants and needs. Absent of scarcity and alternative uses of available resources there is no economic problem. Wikipedia-Economics
    98. 99. PEOPLE WILL NOT PAY FOR USEFULNESS, RELEVANCE, VALUE
    99. 100. PEOPLE WILL CONSUME WHAT IS USEFUL, RELEVANT, VALUABLE… … BUT WON’T NECESSARILY PAY FOR IT
    100. 101. ONLY WHAT IS SCARCE CAN BE CHARGED FOR
    101. 102. WE HAVE TO FIND SCARCITY
    102. 103. GOOGLE HAS FOUND IT ON INTERNET
    103. 104. GOOGLE HAS FOUND IT ON INTERNET PROPRIETARY ALGORITHM
    104. 105. GOOGLE HAS FOUND IT ON INTERNET PROPRIETARY ALGORITHM OPPORTUNE CONTEXT
    105. 106. GOOGLE HAS FOUND IT ON INTERNET PROPRIETARY ALGORITHM OPPORTUNE CONTEXT LIMITED SEARCH TERMS
    106. 107. WHERE IS THE SCARCITY?
    107. 108. WHERE IS THE SCARCITY? UNIQUE CONTENT
    108. 109. WHERE IS THE SCARCITY? UNIQUE CONTENT UNIQUE UTILITY
    109. 110. WHERE IS THE SCARCITY? UNIQUE CONTENT UNIQUE UTILITY UNIQUE CONVENIENCE
    110. 111. WHERE IS THE SCARCITY? UNIQUE CONTENT UNIQUE UTILITY UNIQUE CONVENIENCE UNIQUE PACKAGING
    111. 112. WHERE IS THE SCARCITY? UNIQUE CONTENT UNIQUE UTILITY UNIQUE CONVENIENCE UNIQUE PACKAGING UNIQUE EXPERIENCE
    112. 113. FREEMIUM MODEL ABUNDANT CONTENT FREE SCARCE CONTENT PAY
    113. 114. INNOVATION INNOVATION
    114. 115. WHAT ABOUT ADVERTISING?
    115. 116. WHAT ABOUT ADVERTISING? OVERABUNDANCE OF BULK CONTACTS DRIVES CPM TO ZERO
    116. 117. WHAT IS POTENTIALLY SCARCE? MESSAGE RICHNESS
    117. 118. WHAT IS POTENTIALLY SCARCE? MESSAGE RICHNESS CONTEXT
    118. 119. WHAT IS POTENTIALLY SCARCE? MESSAGE RICHNESS CONTEXT AUDIENCE PROFILE
    119. 120. WHAT IS POTENTIALLY SCARCE? MESSAGE RICHNESS CONTEXT AUDIENCE PROFILE LOCATION
    120. 121. WHAT IS POTENTIALLY SCARCE? MESSAGE RICHNESS CONTEXT AUDIENCE PROFILE LOCATION INTENTION
    121. 122. WHAT IS POTENTIALLY SCARCE? MESSAGE RICHNESS CONTEXT AUDIENCE PROFILE LOCATION INTENTION FULFILMENT
    122. 123. POTENTIAL TO DELIVER OUTDOOR PRINT RADIO TV WEB MOBILE TABLET MESSAGE CONTEXT AUDIENCE PROFILE - LOCATION - - - INTENTION - - - - FULFILMENT -
    123. 124. 38 THE INNOVATION •  Meredith took client from display & banner ads to multi-channel integrated marketing • Meredith produces paid magazine (1 million subscribers), weekly e-mails, recipe website, iPhone app (iFood Assistant), iPad app (Big Fork Little Fork) and branded entertainment program
    124. 125. 39 WHAT WE THINK: •  Promotion in multiple channels increases the amount of purchases • Either you help your clients create integrated marketing campaigns or someone else will. INNOVATION
    125. 126. HOW DO WE FIND THE MONEY?
    126. 127. HOW TO FIND THE MONEY? FOCUS ON YOUR CLIENTS’ NEEDS…
    127. 128. HOW TO FIND THE MONEY? FOCUS ON YOUR CLIENTS’ NEEDS… …AS OPPOSED TO YOUR PRODUCTION NEEDS
    128. 129. FROM “MEDIA IN A BOX”… Editorial/ Programming Finance Admin HR IT Legal TV Production Marketing Ad Sales Editorial Printing Circulation Ad Sales Editorial Printing Circulation Ad Sales Newspaper Magazine Radio Editorial/ Programming Production Marketing Ad Sales MEDIA INC.
    129. 130. TO A COMMERCIAL ENGINE AUDIENCE EDITORIAL MARKET INTELLIGENCE SUPPORT FUNCTIONS BRANDS AD SALES ADVERTISER
    130. 131. WHERE IS THE MONEY?
    131. 132. WHERE IS THE MONEY? YOUR CLIENTS HAVE IT, SO…
    132. 133. WHERE IS THE MONEY? YOUR CLIENTS HAVE IT, SO… … FOCUS ON THEIR NEEDS
    133. 134. FIND YOUR SCARCITY…
    134. 135. FIND YOUR SCARCITY… … AND YOU WILL FIND THE MONEY
    135. 136. GOOD JOURNALISM IS SCARCE
    136. 137. INVEST IN QUALITY SCARCE JOURNALISM AND THE MONEY WILL COME
    137. 138. WE ARE THE WINE NOT THE BOTTLE INNOVATION
    138. 139. SIMPLICITY IS THE DRIVER OF INNOVATION Dom Sagolla, co-creator of Twitter
    139. 140. IT'S TIME TO INNOVATE
    140. 141. the end THANK YOU WWW.INNOVATION-MEDIACONSULTING.COM [email_address] TWITTER - @JUANSENOR
    141. 142. Thank you! 65 Innovations in Magazines World Report 2011 www.innovation-mediaconsulting.com

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