2. BUSINESS IN THE MEDIA
The main aim in business is to increase profits. To get larger profits and market
penetration, music magazines are classed as BRANDS, therefore are not made so
much to print.
Technological convergence has made a media text accessible via a digital device
that can do many different things – this is the concept of the magazine/print world
changing. We can access a magazine on a phone or iPad which is the same place
we listen to music, watch videos and take photos e.c.t.
Digital technology has changed everything.
3. SYNERGY
What is Synergy?
An idea of making more money out of a brand.
Synergy is good for business. It increases profits and obtains bigger
advertising revenue by selling a product in different ways, it gets to
more people, and can become anything… Movies are great at this! For
example High School Musical. A hit movie is made into a soundtrack
CD, pyjamas, slippers, stationary, lunch boxes, drinks bottles, and
many types of accessories.
So why stay limited to sell just one product from one brand?
4. HOW IS NME MUSIC MAGAZINE A
BRAND?
NME is a brand by much technological convergence. For example they have their own web pages which are: NME,
NME Awards, Club NME, NME India, Club NME Brazil. NME has offices worldwide! Some countries are Amsterdam,
England, Hong Kong, and America. However technological convergence has hindered NME’s magazine in the first
half of 2014, as figures shown by the Audit Bureau of Circulations informs us that the average joint digital and print
circulation of the NME decreased by 18.8%. However despite this NME's overall brand has reached 3.6 million,
bigger than it has ever been before! NME broke into the TV market on November 23, 2007, with a major strategic
partnership with CSC Media Group (Chart Show Channels).
NMETV is available now to around nine million households across the UK on Sky Digital 377.
Also, NME Radio is the brand’s very own radio channel.
What NME achieved in 2013…
NME was gained the Professional Publishers Association Chairman's Award.
NME was crowned Music Media Brand of the Year at the Music Week Awards.
NME’s commercial team was awarded with the much desired Most Valuable Partner Award by UM London for its
partnership with fashion brand H&M.
5. HOW I COULD EXPLOIT SYNERGY &
CONVERGENCE IN MY MUSIC
MAGAZINE?
It is strange how I am making a new music magazine when due to
technological convergence there has been this significant theory
that print magazines are dying out. However I am going to
challenge this as my music magazine is of an indie rock genre. I
believe there is a gap in the market for a magazine like this
targeted for a niche audience of indie rock fans that would enjoy
my magazine. Especially as I am looking to style my magazine
similar to Ray Gun, as David Carson has inspired me in his
wonderfully creative, non-conventional designs.
Using synergy to boost profits for my indie rock ‘brand’ (HiT) I
could make a website or clothing brand including t-shirts and
hoodies as these can sell at a higher price than socks.