Electronic media bring 15-18% of revenues
Magazines large and small are turning their attention to profitable digital strategies. What works when moving from print to web? That's the topic covered by C2: Content and Community on Tour. The one-day seminar, offered in various cities by Folio: The Magazine for Magazine Management, covers fast-changing technologies that are transforming the relationship between publisher and reader.
The New York City seminar was presented in November by Folio magazine editor Bill Mickey (pictured). Also in attendance was Tony Silber, Folio general manager.
“The business model is not predictable anymore and we will be living with that the rest of our careers,” said Silber, speaking of the rapidly changing digital environment. “Every 18 months we will be asking ‘What's the next big thing?’”
Among the seminar highlights:
* Digital accounts for some 20 percent of b2b (business-to-business) advertising revenues today,
* Only 11 percent of b2b publishers believe their digital strategy is fully developed.
* B2b publishers are more sanguine than consumer publishers about print advertising.
* Electronic media account for some 15 to 18 percent of revenues; some 65 to 86 percent of publishers expect online media to grow in importance.
* Revenues from electronic media have not replaced revenue lost from print.
* Newsstand sales have lost 40 percent of their value in the last 10 years.
* Mobile is growing quickly; about one third of magazine websites are mobile enabled.
* Magazines are running more sponsored stories from advertisers. “Putting advertising into the content flow is the newest trend,” says Silber.