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How Magazines Can Survive the Digital Age

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Newspapers are hurting and magazines may be next on the list as digital media continues to monopolize more and more of people's time.

Yet magazines do provide value in the form of interesting, in-depth content on topics I never would have thought of searching. This is the key to their survival.

Published in: Business, News & Politics

How Magazines Can Survive the Digital Age

  1. How Magazines can Survive the Digital Age <ul><li>Jason Dojc </li></ul>
  2. Traditional media is losing “news” market share to the Internet Source: Pew Research Centre via Marketing Charts August 2008
  3. Text And as more people spend time online, the less time they spend with traditional media Source: Journal of Computer-Mediated Communication
  4. So will internet kill the print media star?
  5. NO New technology never completely replaces old technology. We generally find a new purpose for “old tech”
  6. Cars didn’t replace horses. Horse riding evolved from transportation into recreation
  7. Photography didn’t replace painting. Impressionism, cubism, surrealism and several other important art movements emerged after the invention of the camera .
  8. Digital media, social or otherwise, won’t completely replace print media. Print media will evolve.
  9. Magazines are best positioned amongst traditional media to weather the internet storm as the industry already is structured as a ‘mass of niches’ with a title catering to almost any interest
  10. While 2008 Ad Revenues are down 11.7% Source: Magazine Publishers of America
  11. ... circulation revenue is up Source: BusinessWeek, May 15, 2009
  12. Insight Magazine content is valued by readers Using advertising as the primary source of funding that content is what’s broken
  13. “ What business are you in?” Jeff Jarvis, author of What Would Google Do
  14. Not breaking news Twitter and blogs do it faster
  15. Not community Services like Facebook and Meetup have that covered
  16. There are many newspapers and news shows reporting the same things. Magazines have a voice and in this era voice is values ; magazines can create content with unique value and if they can continue to find readers across media they will survive. Jeff Jarvis
  17. <ul><li>Three of Salon’s (an online news and culture magazine) most popular stories have featured the words: </li></ul><ul><ul><ul><ul><li>Best </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Worst </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Everything you wanted to know about </li></ul></ul></ul></ul><ul><li>Our readers want to know what we think -- and they want to tell us what they think . And they want to know what other readers think . </li></ul><ul><li>Joan Walsh Editor of Salon.com </li></ul>
  18. Magazines are curators of content of a particular taste and point of view.
  19. How does one profit from content when standard advertising can no longer pay most of the bills?
  20. Be a Brand Maxim is more than a men’s magazine. It’s a male fantasy brand that throws parties and opens nightclubs. Having multiple revenue streams takes away the publisher’s dependence on advertising. It also allows for a deeper understanding of the audience allowing for richer marketing partnerships with other brands
  21. Be a Brand Extension “ O – The Oprah Magazine” extends Oprah Winfrey’s personal brand. In Canada, LCBO’s “Food & Drink” and The Beer Store’s “Chill” serve as a marketing platform for brands within their respective categories.
  22. Find a receptive captive audience In flight magazines like En Route and commuter magazines like Metro can promise a receptive audience to marketers because of their captive audience
  23. Find a receptive captive audience Are there any unexplored captive areas?
  24. Be a content platform OhMyNews is a Korean newspaper that edits articles crowdsourced from citizen journalists . The writers are paid if the article is published. With less full-time staff, the paper is able to sustain itself
  25. Be uber-premium <ul><li>Super-premium luxury brands and high newsstand prices can still support certain “high-end” magazines. </li></ul>
  26. Be an Aggregator Lexus sponsored “Mine” Magazine, an aggregate of several titles based on preferences chosen by readers HSBC sponsored a custom magazine where consumers would get an HSBC branded hard cover, choose from a series of loose-leaf articles, and have it bound before their flight
  27. Be an Aggregator Now imagine a meta-magazine, one that scoured the Internet for great content that matched your preferences either by survey or based on your Facebook profile. Article quality would be determined by reader reviews, an automated algorithm, and/or editorial reviews. Ads and marketing partnerships could be targeted based on article context and reader profiles.
  28. The Bottom Line <ul><li>Magazine  glossy bound periodical with articles, photography, and illustrations </li></ul><ul><li>Magazine = authoritative niche content from vetted sources in any format </li></ul>
  29. Thank You Jason Dojc www.linkedin.com/in/jdojc

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