Not just a magazine!
The magazine as we once new it; a glossy periodical full of visual goodness is no more. Sales of print versions are declining, some more than 20% and ad buyers are still cautious of digital subscriptions, but… most magazine publishers will need to become digital media publishers. Here’s a look at why.
Research firm eMarketer predicts that while print magazine ad revenue will remain flat at about $15.1 billion from 2011 to 2016, digital magazine ad revenue will grow from $2.7 billion to $4.1 billion over the same period. (US figures)
In-app purchases are quickly becoming the best way to monetize mobile and tablet apps. So digital publication could offer exclusive content to it’s subscribers in-app
With attention spans dwindling readers are looking for niche and compact content and with the prices of digital publication dropping it is now more cost effective to be able to produce niche targeted magazines, more often (eg: weekly) and even offer the user to select and/or buy content that is most relevant to them.
More platforms (web, tablet, smartphone) mean better ways of connecting people with their passions, but there are so many different ways for a consumer to subscribe that it is not always clear. How can digital publishers capture the power and reach of social media and SEO to turn 1 subscriber into 1000’s?
Publishing a magazine is getting easier and easier and prices are dropping. Quarks App Studio and Adobe’s DPS (to name a couple) have both seen recent price drops so publishing has become even more affordable and seamless with most popular platforms offering Indesign plugins.
In his letter to readers, Chris Hughes, publisher and editor in chief of The New Republic sums it up nicely:
‘In 2013, The New Republic can no longer be just a magazine. We are a media company that produces live events featuring our staff and other experts, a responsive website designed for social conversations and a mobile life, audio versions of all of our work, a cutting-edge tablet app, and, of course, 20 print issues a year. We provide access to all of our products for one price to make it as simple as possible to subscribe.’
So our once cherished magazine collection is quickly becoming a multi-platform digital publication allowing users in the future, to steer the content inside it, interact with it like never before and access it from anywhere.
This post was written by Chris Ongarello, Founder and Managing Director of DuckDive GmbH.
DuckDive moves brands and businesses into an engaging position with their audience, connecting them through the power of digital communication. Focusing on concept and strategy to deliver measurable (ROI), DuckDive achieve this by working with enthusiastic people who share a common goal to create amazing innovative solutions to challenges.
Digital Mag pic from Iceberg Digital. Love your work guys.