Teacup

Magazines have always had a major role in the lives of consumers and marketers. But in this era of new media with so many tactical options at our disposal to entice consumers and such demand for constant reporting, do these big fish still have room in the pond to swim in? Can magazines still provide real value for consumers and companies in such dynamic times?

The need for integrated approaches

According to writers at New Media Knowledge (NMK), both corporates and consumers are looking for integrated approaches. With the rise of accessibility in high speed internet, users can interact and engage with companies on a level that was never possible before. Through flash media, videos, social networks, users can completely surround themselves with the brand to experience it to the fullest.

The rise of online media portals

The internet gives way to other types of magazine content as well: blogs, newsletters, social networks. There is also the rise in Online Magazines available both free and through paid subscriptions and at such a low cost to distribute for publishers.

However, Monique Talbot, chief executive at Tempest Media who manages sales for well-known beauty portal Shesaid.com.au says that although online media is making some progress, it still isn’t recognised by the major companies. “I flick open a glossy and the first 10 pages are these massive advertisers. It drives me crazy, I have 75,000 women on my Shesaid.com.au database, with 15,000-20,000 women opening the newsletter each week, I mean, where do you get that in offline land?”

It is no secret that the sheer accessibility of online media, the speed or distribution, ease of response and higher evaluative methods makes it a lot more attractive to marketers. Online media can provide almost everything that a print magazine can cheaper, faster and to more people.

New media provides engagement in a different way

Although new media is changing consumer attitudes towards magazines, it will not cause the industry to collapse, writes Online Journalism Review. “Instead, innovation in long-form magazine journalism online is coming from the edges, in the shape of thoughtful audio podcasts, on-the-scene video blogs and in the plethora of thoughtful essays on Weblogs maintained in academic and professional realms.”

Media guru Mohammad Jangda also agrees that although online media provides useful sharing tools and increased engagemet through social networks and video content, having digital replicas of print magazines is still not the same as the hard copy experience. An “online magazines do not provide any additional affordances to the user, making it dead experience.”

The Magazine Experience

In fact, the magazine experience is one of the key differentiating factors keeping the industry alive, writes Jason Fell for Folio (print and online publication for the media industry). “The magazine experience is one of the last remaining opportunities to enter a hermetically-sealed world, an edited experience of our culture created by someone else. And, more importantly, it’s an experience that encourages you to stay in it rather than constantly bounce in and out of it.”

Magazine Industry: steady for now but uncertain about the future

According to the MediaPost, almost 80% of people surveyed through their research still subscribe to magazines. However, only 45% believe that newspapers and magazines will still exist in 10 years, with another 40% being uncertain about the future of the print industry. Although magazines may be surviving for now, their continued success will be a struggle. Is the magazine experience simply enough to warrant it to maintain its current status or will see the slow demise of the media giants giving way to new emerging technologies that are faster, more convenient and more connected? Only time will tell.

This entry was posted on Saturday, November 14th, 2009 at 1:44 AM and is filed under Print Media, Social Media. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.