With the announcement this week that PC Magazine will go all digital, it’s beginning to sink in to magazine publishers that their brand may indeed be stronger long term in digital formats than in just print.
Today, the PCMag Digital Network, with over seven million unique monthly visitors, reaches in excess of 10 times the circulation of the print publication. - Press Release PCMAG Digital Network
As a magazine publisher, you are always seeking new stories that interest your readers. There is an excitement that captures the scoop or the analysis of something special to your niche readership.
But there is a problem. Even at your best, you realize that you are only covering a small percentage of the whole news associated with your niche.
Major cable news networks have already launched their own “you report” type of video reporting by their viewers. Citizens are now bringing the front edge of news to the news media’s attention. A new community funded reporting site is also launching (http://spot.us - launching this week according to Publishing 2.0) that will foster more of a journalistic approach to these hidden stories.
As a publisher, this should make you think more about how you involve your readership in the news and media process. Social media for magazine publishers presents an opportunity to handle brand extension in a way the newspaper industry failed.
You are in the business of publishing media around the concept of a magazine. The print magazine is only the periodic element citing the latest news in a packaged and polished presentation. There is much more to your brand than just the print magazine. Please don’t picture your business, your industry, or your own publication as being in the business of printing a magazine.
Scott Karp makes this great point with an emphasis on the newspaper business in his post on monetizing the internet. [Well Done Again Scott!]
The magazine publishing business stands right behind the daily newsprint media in terms of volitility of digital change. We let newspaper publishers take a bullet so that we might learn how to get our business model straight before it’s our turn to shine.
The environmental aspects of the publishing business have never been so prominent. In addition the the economic need for cost reduction and waste reduction in the magazine publishing industry it’s also a major consumer factor today.
I recently asked a major magazine distributor agent about their disposal process for unsold newsstand copies. While I was glad to learn that the copies not donated were indeed sent for recycling, the agent advised that she takes just about as many copies off the shelf as she is putting up in some stores. This also cites the need for better logistics and distribution controls. I know we could be smarter about putting magazines in the hands of the targeted readers.
Large distribution companies don’t always have the ability to control local and non-corporate strategic retail points of purchase or distribution.
Green magazine publishing should be looked at from many different angles. The online media capabilities of a magazine present dozens of methods to publishers to extend their brand digitally and support green publishing.
When 30% of your readers prefer digital editions for either digital delivery preference or environmental reasons, publishers can’t afford to ignore this segment.
There’s not one single checklist and the custom green media package is different for each magazine brand. This month, Folio magazine is coming out with their own Green issue. This issue is sure to encourage magazine publishers to look at their business and take action to develop a brand extension strategy and consider other green publishing initiatives.
The Magazine Publishers of America (MPA) has recently launch a re-designed website. The new web design brings the magazine publishers association up to expectations and allows MPA members and visitors to more easily access publishing industry information.
We like the focus on simple navigation, specifically the core horizontal navigation of Events, Community, Careers, and Directory resources. These top visit purpose sections help to guide both new an regular return visitors. Many publishers continue to watch the digital initiatives listings. This is a section that we feel could be developed to include additional details and images relative to the publications that have taken action to improve their brands on the web.
MPA Association Website
Magazine publishers are realizing how valuable their content is when published online. In addition to owning their market niche online based on published content, publishers are also learning how to use their content for multiple revenue and value streams.
The recent announcement that Walt Disney expects $1 billion in online revenue from content drives home the importance of taking the right online content strategy.
“If we’re not there, (people) will just access someone else’s content,”
- Walt Disney CEO Robert Iger
High quality content is the key to new web traffic, return website visitors, and the right online campaign options for advertisers. When this high quality magazine content is published online and properly organized and present based on an integrated web and digital strategy magazine publishers create the perfect storm for their readers and advertisers.
The realization of revenue from content has caused a major shift from the traditional publisher mindset of “always make the reader pay for the content.” Understanding the long term economic value of properly published web content is making even old school publishers re-think their position on the hundreds of articles they have tucked away “offline” in past print magazine issues.
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