Beyond the Printed Page, Magazines Diversify to Stay Afloat
With the internet taking a significant amount of its readership and the recession impacting physical sales, running a profitable print publication these days is becoming even more of a daunting proposition. But despite these struggles, many magazines are finding new opportunities outside of the printed page, diversifying their business model with alternative revenue streams. Advertising Age recently surveyed five such publications, representing diverse cross-section of the entire industry - Men’s Health, Make, The Atlantic, Complex and Fader – to find out what their outlook is going forward.
While advertising, both print and digital, remains an integral component of the revenue mix, these magazines are building on their brand’s appeal and by extension reaching out to their audiences with other opportunities to engage with the publication’s unique point of view. This can take the form of events, books, retail and other media, but the key appears to be thoughtful curation and relevancy, justifying the shift in attention by creating a more meaningful experience. This in turn reinforces the culture of the magazine, while allowing readers to identify with a larger community.
[via Ad Age]
[image via Dan Zen on Flickr]