RE: Readers Are More Willing To Pay For News, But For How Long?
It won't last. People are making money decisions for non-economic reasons right now, and media companies are fooling themselves if they think people are paying for news because of the great content or the genius paywall strategy they invented. It's a short-term wave, like the big tips waitresses are probably getting right now. People are paying for news out of charity -- to help a hard-hit industry during a difficult time. That's not all bad. As a friend of mine says, when you've got a wave, surf! (Submitted by a Vice-President of Operations)
RE: Readers Are More Willing To Pay For News, But For How Long?
People pay for what they value, sad to say journalism is not something widely valued when news is free and you don't see a risk or a bother with quality...and many today do not want thoughts provoked they want like emotions stoked. (Submitted by a Business Therapist
RE: Is the Facebook Ad Boycott an Opportunity for Publishers?
I can see the pitch right now: "Guaranteed: your ad will not appear anywhere close to Nazi propaganda." (Submitted by a Vice-President of Operations)
Re: National Enquirer publisher AMI lands deal to stay afloat
AMI and Pecker have more lives than a hundred cats. (Submitted by a Publisher)
Re: ‘The right question changes everything’: The New Yorker launches a new brand campaign
Hi Bo, Every now and then, you need to stop and say to yourself, “Thank you, New Yorker.” If this challenged and troubled country recovers from its present malaise, which I believe it will, The New Yorker will have been a significant factor in its salvation. (Submitted by a Publisher) FOR THE COMPLETE ARTICLE CLICK HERE
Dancing at the Apocalypse Bonfire
By Joe Berger https://newsstandpros.wordpress.com https://bit.ly/3dJ52M7
Every now and then Baird Davis, a retired Ziff-Davis Publishing circulation VP will pen an article that shows up in an industry trade journal like Folio, Publishing Executive or the BoSacks newsletter. His articles review the latest AAM (formerly ABC Audit of Circulation) statistics and offer some analysis. Whether or not he intended it, to me Baird’s articles always felt like a slap upside the head to all of us magazine professionals. “Wake up already” the op-ed always seemed to be saying.
Years ago, in what now feels like another reality timeline, I was a consultant to Ziff-Davis and Baird was a level or two about my report.
Occasionally he would come visit one of the magazine wholesalers I was calling on and it always felt like I was reporting in to my very stern (but fair) uncle. You know; the one for who you always double checked to make sure your pants were creased properly, that you were sitting up straight and your tie was tied properly.
This morning, in a post titled “Saving Printed Consumer Magazines in the Social Media Era: It’s Significance and Challenges” Baird deals us magazine professionals a healthy dose of reality. Like truly sobering reality.
Yeah, It’s Not Like We Didn’t Already Know, But…
It’s not as though he isn’t pointing out things we already knew. But I think that these days, those of us who have some “history” in the business are just too darn busy to acknowledge what he’s pointing out. These days, we just “carry on:”
Go and read the article, and then I’d like to add a few thoughts. See what you all think.
It’s a procrastinators joke that we will always put off until the day after, what we could have done tomorrow. So I would imagine that there were magazine professionals who hesitated when companies like Ziff-Davis and Petersen were purchased in the 1990’s for $1.4 and $1.2 billion. Davis points this out, and I will highlight it.
Personally, I had already seen the impact of highly leveraged purchases when a company I worked for, Family Media, collapsed in the go-go 1990’s and yet, I remember feeling exhilarated when I heard the price Softbank paid for my then biggest client, Ziff-Davis.
I imagine, that there were circulation professionals who wondered if it was smart to load up their files with so much “verified” and “non-paid audited bulk” circulation. And yet, if that worked…
I know of one or two newsstand professionals who murmured “This ain’t good” into their coffee cups when the number of major magazine wholesalers collapsed from four to three to two to one. Do you think there were a few editors who wondered how they were going to review articles, get re-tweets and Facebook likes and come up with a new editorial calendar? And do their jobs with integrity?
Who’s minding the store, now, in consolidated America? Where can you get “lean back” immersive news (or entertainment) that is not dependent on either advertising, a stock price or the financial backing of some leveraged private equity firm? If you live outside a major city, can you even get news about what your local county board is up to?
Come On Down to The Apocalypse Bonfire
As a magazine professional, I have to say that it feels like I’m at the edge of some apocalyptic bonfire. The drums are hot, heavy, and completely out of synch. There’s dancing, but no one knows the steps. There is rote and tradition, but no one wants to follow along. A few people are having a fine time. But most are uncomfortable and waiting for that singular “Lord of the Flies” moment. It’s coming. Soon, maybe?
What’s Next?
Baird offers “Suggested Next Steps” and as I often do, I find myself nodding my head in agreement. But it feels like he is offering us a West Wing moment. You know, in the West Wing television show, the music swells, President Bartlet comes out from behind the Resolute Desk, says something inspiring and we all feel a bit chagrined and then go and do the right thing.
You know you want to go and do the right thing, right? Source: Parade Magazine
Baird suggests that we try and put together a committee to help the industry navigate the Covid-19 and post Covid-19 era. The goal would be to try and hold the two major players, Hearst and Meredith accountable. Somehow I highly doubt that these two companies, having survived and thrived to this moment (Either because they long range planned themselves to this moment or arrived here through luck and the foolishness of their competitors) would put up with that.
The magazine industry does need organizations that would speak for us and remind us to the right thing. But at the moment, we’re all down at the beach, dancing at the apocalypse bonfire and wondering what will happen next.
FOR THE REST OF THE ARTICLE CLICK HERE
Re: The night artists: Nashville's loyal pressmen face their final deadline … have to say thanks…
Re: An Honest Look at State of the Magazine Industry - Summer 2017
Many thanks for sending David Pilcher's interesting article, "An Honest Look at [the] State of the Magazine Industry." If nothing else, the article demonstrates how difficult it is to get definitive information on the number of titles launched, folded, or running in a given year. Different sources provide different numbers, and the differences can be pretty big. For example, Mediafinder (one of the sources of data in the article) believes there are more than twice as many magazines published in the U.S. as Statista (another source). Quite a margin of error! But more to the point, a really "honest" article about the state of the magazine industry would discuss the number of magazine pages being printed in a given year, to reflect trends in both ad volume and circulation. Considering that Pilcher is writing for a printer's blog, the quantity of pages printed would seem like a much more pertinent metric than the number of titles published. Of course, the definition of "magazine" is at the heart of all of this anyway. And in any case, the state of the magazine industry can't be genuinely relevant to more than a handful of people. The trends in our individual businesses matter a lot. The trends in other markets or in other media? Not so much. CLICK HERE FOR THE FULL ARTICLE
Re: BoSacks Readers Speak Out: MPA Response to Trend Report, High Times, & Marketing
1) If the effects of magazine advertising are that compelling, why isn't the industry booming instead of contracting? Businesspeople are cheap -- if they don't see returns on their investments or best use of their costs, they stop them. Not all of their costs can be measured or known by outsiders. But somehow, Google, Facebook, and others are making money from free services to their audiences.
2) If the engagement of magazines is that good, why are the publishing companies downsizing and always complaining about "monetization"? Why is it that small publishers seem to find niches but the big ones can't despite all those MBAs and sales people and research departments? The justification confuses research about emotional preference with actual use, frequency, and the benefits of immediacy and relevance.
3) the funniest part? " Mary Meeker is a partner at the Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers. Her analysis needs to be viewed through the lens of her role, defending her company's investments in incubation, early stage and growth companies." Duh! And let me guess -- Ms. Brooks is NOT paid to produce "the parrot is not dead -- he's pining for the fjords -- beautiful plumage that Norwegian Blue"? (Submitted by a Print Analyst) CLICK HERE FOR THE FULL ARTICLE
BoSacks Speaks Out: Key Takeaways From Mary Meeker's 2017 Internet Report
Hi Bo-It was great to catch up with you at IMAG last week. I was also happy that you lent your authority (and timeliness!) to analysis of the 2017 Internet Trends Report. As you can imagine, our MPA team gets a lot of questions about this data too. I thought you might like to see some topline comments from our team to add to your analysis, specifically the Time Spent chart.
For starters, "Print" combines magazines and newspapers, making it a useless analysis for understanding either media. No detail is offered in terms of how many brands of either newspapers or magazines are used or which specific brands are part of this "Print" channel. Forgetting that for a moment, as you point out, the data ignores the fact that magazine brands live across formats and channels-and consumers find and enjoy them in all those places. Magazine brands populate and drive internet and mobile platforms with their branded media; therefore magazine media make up vast parts of the internet and mobile experience and are part of that "time spent" too.
The Time Spent chart doesn't address Return on Advertising Spend. Nielsen Catalina Solutions data shows magazines lead all other media by large margins when it comes to return on investment. And we know that magazine media is effective in driving business metrics across the upper and lower funnel. Qualitative research validates that magazines still lead all other media in consumer ad receptivity, trust, and engagement. The presumption in this report seems to be that marketers don't realize that their spending is not allocated in proportion to consumer time spent; we believe that marketers are actually very savvy and know which media channels deliver business results. Their allocations reflect that. Time spent does not correlate to advertising business results.
As marketers have begun to address the recent issues around "viewability," quality, and effectiveness of internet, digital and online video ads, there have been case studies demonstrating what happens when marketers pull back their online advertising. In a highly publicized instance, Chase Bank reduced its online ad placements from 400,000 down to 5,000, and saw no change in business results or ads viewed.
Finally, it is worth noting that Mary Meeker is a partner at the Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers. Her analysis needs to be viewed through the lens of her role, defending her company's investments in incubation, early stage and growth companies.Hope you find our perspective helpful. I'd be happy to discuss further at any time by Linda Thomas Brooks - President and CEO | MPA -The Association of Magazine Media) FOR THE COMPLETE ARTICLE CLICK HERE
Re: Ebook sales continue to fall as younger generations drive appetite for print
Hi Bo, Newspapers such as The Guardian and New York Times love to write pieces that promote the myth that "Print is back!" in the book business. It is hugely misleading and ignores even what Nielsen itself says in other venues. At Digital Book World in January, Nielsen's Jonathan Stolper said that price is the most important and most influential barrier to entry for ebook buyers, and the increase in ebook pricing directly coincided with the decrease in sales. What we're seeing is consumers unwilling to purchase an ebook at the same price as a print book, rather than some nostalgia for print.
Furthermore, in 2016, Nielsen reported that US adult fiction sales are 50% digital overall at the Big Five houses. When you factor in nontraditional publishing sales-ebooks from Amazon Publishing as well as self-published authors-the digital share of book purchases changes significantly, more in the range of 75% digital overall if we're looking at fiction alone.(These types of articles push all my buttons, but I know you are very well-schooled in all these "print is back" mythologies, as your Japanese proverb indicates.) Safe travels & enjoy Berlin!(Submitt ed by a Publisher and Industry Consultant) FoR THE COMPLETE STORY CLICK HERE
RE: The Fate of the Newsstand Isn't the Same as the Fate of Print
Bo, I think we often gloss over the fact that the publishing industry has created a rather wide value gap in what we charge for subs vs single copy. I would submit most of the large publishers offer subs almost at the same price of buying one issue from the newsstand, therefore, driving the business south. XXXXX Media does not do this, and as a result we have 60/40 subs/newsstand. Also, our business was up last year and we budgeted another growth in single copy this year. (Submitted by a Publisher)
RE: The Fate of the Newsstand Isn't the Same as the Fate of Print
Bo, you have been saying this for years and rightly so. Newsstand isn't the be all and end all for the publishing industry and not all the news is actually bad anyway. My titles are doing very well despite the overall declines. I have a sweet spot and my audience is strong. Thanks for all you do for the industry. I enjoy my morning cup of coffee and Bo. Although we have never met I feel like I know you and that we are friends. (Submitted by a Publisher)
BoSacks Readers Speak Out: An Important Correction on "Print Ads with Money-Back Guarantee" & More
RE: BoSacks Speaks Out: Major Publishers Bet on Print Ads with Money-Back Guarantee
Thanks for sharing this article with your massive distribution list! We all appreciate your ongoing support of magazine media. Just wanted to make one clarification. We don't set a minimum ad spend threshold but in order to be eligible for the Industry Sales Guarantee, an advertiser must reach a GRP threshold of 150 Adults 18+ GRPs. On average, the Sales Guarantee programs we've conducted at Meredith are based on a spend somewhere between $1-$2 million over 12 months for print campaign - nowhere near the $10 million ad buy you mention as the requirement (although we wouldn't say no to that!). Thanks again for your interest in this exciting new MPA initiative (and thanks for coming to the AMMC breakout session!). (Submitted by Britta Cleveland | Senior Vice President, Research Solutions) CLICK HERE FOR THE COMPLETE ARTICLE
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