NEWSPAPERS WILL DIE – THE REBIRTH OF THE MAGAZINE

Traditional local newspapers are hemorrhaging money, facing quarterly staff cuts, declining advertising revenue and are now struggling for relevance in the new and fast paced news cycle.

But, not so with America’s favorite lifestyle magazines. They will flourish in this new environment with in-depth and detailed issues, based pieces that complement the lighting fast, first-person efforts of social media and blogosphere. Consider Rolling Stone’s recent renewed sense of relevance (click for content) with the article on General McChrystal or the staying power of Oprah or Real Simple, glossy giants that continue to garner strong readership and advertisers. The Economist, an old favorite, is today the most successful weekly magazine in the English-speaking world. According to Poynter Online, (click for content) “Almost a year into an innovative mobile marketing effort to drive print sales, The Economist is reporting a 1.2 percent growth in circulation and a 3 percent increase in overall profitability. Cosmopolitan still gives widely- read advice on sex. Sports Illustrated is still devoured and according to CNBC (click for content) is huge business for the magazine and its publisher. It is one of the most successful franchises in existence today.

A recent study revealed that since 2008 the United States has lost 166 print newspapers. (click for content) The death of newsprint and the subsequent rebirth of long lead and feature publications will create a power vacuum within the traditional media space and end with the flourishing of print magazines.

In a recent speech Nina Link, the President of the Magazine Publishers of America spoke about the changing of fates within the print world: “It’s also one of the characteristics that separate us from newspaper media.  We share the paper-based platform but that’s where the similarities end.  Most of our brands are centered on people’s interests, passions or hobbies.  Our content stays fresher longer.  Our bottom lines have not been dependent on classified advertisings.  And our content is not impacted significantly by bloggers who publish the latest rumors lickety-split.” (click for content)

Some thoughts to consider:

-A bidding war has now erupted to take Playboy Magazine private, investors feel it is severely undervalued. (click for content)

-Top publications such as GQ, Esquire, The Atlantic and Vanity Fair all saw quarterly advertising growth that exceeds 20%. (click for content)

-After a challenging 2009, magazine launches verse closings are showing a net gain in 2010.
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