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Magazine Media In The Digital Age
 

Magazine Media In The Digital Age

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    Magazine Media In The Digital Age Magazine Media In The Digital Age Presentation Transcript

    • Magazine Media in the Digital Age Chris Kevorkian Chief Marketing and Digital Officer MPA September 12, 2012
    • Magazines: The universal medium
    • Younger = more involvement
    • Top magazine ad categories Jan-June 2012 % 2012TOP Magazine Ad Categories 2012 DOLLARS dollars $1,514,248,313 16.3TOILETRIES & COSMETICS -4% inDRUGS & REMEDIES $981,569,423 10.6 dollars 8.6 -9% inAPPAREL & ACCESSORIES $799,882,612 pagesFOOD & FOOD PRODUCTS $772,151,454 8.3MEDIA & ADVERTISING $762,777,371 8.2RETAIL $650,431,982 7.0DIRECT RESPONSE COMPANIES $541,499,900 5.8FINANCIAL, INSURANCE & REAL 5.4ESTATE $502,325,715AUTOMOTIVE $449,983,227 4.8HOME FURNISHINGS & SUPPLIES $446,314,109 4.8 ASME Internship ProgramPUBLIC TRANSPORTATION, Source: Publishers Information Bureau 5 4.3 Source: PIBHOTELS & RESORTS $404,462,607
    • Magazine circulation Jan-June 2012• Total circulation, including digital iPad, was flat in first half 2012.• Paid subscriptions were up 1% to 260 million copies.• Single copy sales account for 10% of total distribution.• Single copy sales were down 9.6%. • General interest titles were up 27.7%. • All retail magazine sales channels were down first half. • Supermarkets, by far the top channel for magazine retail sales, were at 34% (down from 34.4% in 2011). • Unit sales of most supermarket item categories were down for the 12 months ending June 2012. Source: Audit Bureau of Circulations (ABC) 2011 6
    • ASME Internship Program 7
    • Digital AgeASME Internship Program 8
    • Multi-channel programs mean infinite consumer touch points Food & Wine + Toyota Prius
 The Economist+ Bon Appétit + BMW “Star Chef’s Kids Cook” “Ideas on the Table” 9
    • Magazines power content marketing evolution Branded content spending at all-time high: 
 $1.9 million+ per companyASME Internship Program 10
    • Magazines have “sending power” The drive to digital TV Brand Awareness Powerful brand and message awareness builder ONLINE Message Boosts brand awareness, message and sponsorship associationFavorability MAGAZINE Most effective at influencing Purchase purchase intention and Intent brand favorability 11
    • Digital enablers power magazine engagementASME Internship Program 12
    • Smartphones: The bridge betweenplatforms, programs and persuasion Ad Related Cell Phone Activities in Last 30 Days by Medium (Heavy Users Indexed to General Population). 200 150 Magazines Television 100 Internet 50 0 Visited Used Texting Redeemed Watched a Downloaded Advertiser to Mobile Video Clip an App Website Respond to Ad Coupon ASME Internship Program 13 Source: GfK MRI, Fall 2011
    • Digital landscape
    • Tablets hit home: increasingly popular in U.S. households
    • Tablets go global
    • The digital newsstand opportunity Digital newsstand across different devices and platforms
 Kindle Fire • Kindle StoreiPad • • • Nook iOS5 Newsstand Android • Zinio Nook Color/
 • iTunes • Zinio Tablet • Nook Newsstand • Next Issue Media • Nook Newsstand
    • Magazine media tablet study Nov 2011The tablet study was conducted to provide anunderstanding of magazine readership,engagement and actions taken as a result oftablet usage. The study was conducted among adultmagazine readers using tablets to accessmagazine content.
    • Magazine media tablet study Key findingsMagazine readers are embracing electronic access to magazine content on theirmobile devices:  • 73% spend one hour or more reading electronic magazines on 
 mobile devices.• 59% say that the amount of time they spend reading electronic issues of magazines increased since they first acquired their mobile device. • 66% expect to increase this type of reading in the next year. • Nearly 50% say their total magazine readership (both printed and electronic) has grown compared to a year ago. Source: Affinity/MPA 2011
    • Magazine media tablet study Key findingsReaders of electronic magazines are engaged readers:  • 63% visited the magazine’s website as a result of downloading an electronic magazine version or select content. • 74% have downloaded up to five magazine apps (median is 3.7).• 55% read both current and some back issues of electronic magazines. • 86% access an issue at least twice with the median at nearly three. • 73% read or tap on ads in electronic magazines – and those more engaged with mobile devices are more likely to see the value of the these ads. Source: Affinity/MPA 2011
    • Magazines + e-commerce = consumers BUY NOW70% want the ability to purchase products andservices directly from electronic magazines.Source: Affinity/MPA Program ASME Internship 2011 21
    • The promise …The tablet offers an unprecedented opportunity to deliverextraordinary content in creative new ways: 
 Interactive, immersive reader experience
 • • •
 Immediate and dynamic content
 • • • Broader, more affluent, educated and premium audience • • • 

    • How we got here October 12, 2011 iOS 5 newsstand launch. Leads to authentication/ subscriptions/push notification/automatic downloads. April 3, 2010 2012Apple launches iPad. Opportunity forSteve Jobs includes tablet measurement Wired and TIME becomes viable. in his demo.
    • MPA Tablet Metrics Task ForceMPA led a team – a broad coalition of members in sales, marketing, consumer marketing, consumer research and insights – to take on the challenge.

    • Input solicited from leading agencies “It’s been two years, you must “Metrics will help encourage have something on clients to invest in tablet subscriptions and readership.” creative.” “Numbers will help us convince clients they “Getting publishers to should be in this space.” agree to the same thing? Good luck with“Everyone has a different term for that.” the same thing. It’s confusing.” “How soon and how often can we get numbers?” “Will everyone give us the exact same information?”
    • Focus on three key elements> Metrics> Time Frames > Tablet Terms
    • Tablets The range of tablet/wirelesstouchscreen devices including iPad, Kindle Fire, and all larger than smartphone devices.
    • Tablet IssueThe generic term for a tablet edition of a publication.
    • Tablet Reader An individual who has opened a magazine issue on their tablet atleast once. Device level readership.
    • AppDownloads The installed containers (or shells) on tabletdevices where issues are downloaded
    • Tablet IssueSubscriptionPaid subscription to the tablet issues of the publication
    • Tablet IssueSubscriptionPaid subscription to the tablet issues of the publication
    • Paid Single IssuesTablet issue access via the purchase of a single issue from a digital newsstand
    • Authenticated AccessDigital issue access provided to print edition subscribers
    • SFP (Straight From Print) Editorial or advertising content where the page on the screen looks exactly like the print page. With no interactive enhancements except for the activation links
    • SFP+ Editorial or advertising content where the page on the screen looksexactly like the print page — with some interactive enhancements (beyond activation of links)
    • DFT (Designed For Tablet) Editorial or advertising content where the page on the screen has been re-designed specifically for reading on the tablet and is meant to be displayed at 100% (that is, there is no need to tap and zoom)Editorial- O Magazine
    • EFT (Enhanced For Tablet) 
 Adding enhancements and bonus content to designed for tablet (DFT) editorial or advertising content to more fully utilize the tablet medium (e.g.,hotspots, photographic slideshows, video, audio, in-appEditorial- GQ browser)
    • SITI (Special Interest Tablet Issues) contain the native or uniquely curated content that is not part of the regular frequencyAd- Cook Fresh
    • So what’s next?Adoption and use of metrics, timelines and terminology: 
• It’s early days; only a handful of the companies that created the guidelines can currently provide metrics.• Key publishers have joined the MPA Tablet Metrics Task Force: Active Interest Media, American Express, The Economist, National Geographic, New York Magazine, Rodale. • Development of corresponding measures for advertising and engagement.
    • Tablet metrics: Continuing the conversationVoluntary Tablet metric guidelines received a positivereception by the media community – and we continue tomove ahead to:• Share the information with agency and client communities to socialize within their organizations. • Facilitate development of innovative and forward-thinking editorial and advertising tablet creative.• Partner with magazine media to ensure that metrics are shared as they become available • Extend adoption globally.
    • Magazine media social media study MPA released a benchmark study onsocial media and the magazinereading experience in 2012, conductedby GfK MRI. The study revealed that social mediausage among adults 18-34 enhancesthe magazine reading experience.
    • Magazine media social media study Key findings• Magazine readers are highly connected social media users…with a very high propensity “to share” content. • The benefits accruing from readers’ desire to “connect and to share” will be significant for both editors and advertisers. • Content that has real value to consumers is the key to social interaction with brands.
    • Magazine media smartphone studyA benchmark smartphone research study wasconducted to understand the impact of smallerscreen on magazine content engagement andactions taken. The study was conducted by GfK MRI among adultmagazine readers 18-34 who own smartphonesand read magazine content on them.
    • Magazine media smartphone study Key findings• Among magazine readers, there is pervasive downloading of magazine content onto Android and iPhone devices.• Magazine content on smartphones is stimulating increased magazine usage in total.• Melding of smartphones and magazine content is resulting in very high levels of content “socialization.”
    • SUMMARY Magazine Media in the Digital Age: Summary• Magazine media are evolving to maximize and leverage digital opportunities.• MPA took a leadership role in defining tablet audience metrics - and will lead the effort to establish advertising and engagement metrics.• Tablets and smartphones will prove to be the ideal web- based platform extensions for magazines (and their advertisers). • Advertisers who “take the plunge” now will reap significant benefits as magazine apps come of age.