will advertisers continue to support consumer magazines online?
DESCRIPTION
A presentation done for Exploiting the digital future of magazines with a special focus on the business models of consumer magazines in the future.TRANSCRIPT
Leisure and lifestyle magazines: Facing the digital future
?Will advertisers continue to support magazines online?
What does a magazine have to sell?
Advertisers
Content Readership
DUAL PRODUCT
1. Subscription: Premium online article and/or multi-media content
2. Search ads to web-site visitors, banner ads, affiliations to retail web sites, classified ads, product-purchase capabilities, advertiser directory links, or alternative informational/commercial purpose
Why does advertising matter?
Business model of magazines online
Content: Print & Online
Interests. Beliefs. Values.
Content online
“Ingredients” to satisfy readers & advertisers online:
• Great features and columns• Exclusive (Interviews)• Archives• Q&A
Multimedia elements
• Images• video & audio, Flash, Podcasts, Infographs, etc
• Interactivity: Blog comments/Forum discussion, Social media, RSS, UGC,
• Speed and depth: Latest, Current, Up-to-the-minute,
Content online
“Ingredients” to attract advertisers online:
• Multimedia with ads: Branded video and audio, pop up ads, RSS with ads
• Display advertising• Classified advertising• Advertorials• Search engine• Pay per click, unique user ads
Readership of magazines online
• 74% of adults in the UK are reached by one of the NRS listed magazines each average issue period
• 81% of women and over 67% of men are reached by an NRS title each average issue period
15-24 year olds are the age group most likely to be reached by
magazines. 79% of young adults in the UK are reached by one of the NRS titles each average issue period
56% of adults “almost always” read at least one of these titles
Source: NRS Jan to June 2009 PPA – Adults reading one of the 147 titles listed on the NRS
Facts that advertisers like:
Readership of magazines online
• Magazine readers pay attention to magazines and are much less likely to engage in other activities relative to how they use other media.
Facts that advertisers like:
Source: PPA Absorbing Media / Recency Planning Advocates
Readership of magazines online
Almost everyone who reads the title. 90% of pages are viewed – its up to the advert to catch attention and communicate
• 48% of readers agree that advertising adds to the enjoyment of reading
• 63% of Influentials say magazine advertising has influenced their recommendations
Magazines have highest attention of all media. Readers are least likely to be doing ‘something else’ than users of any other medium
Facts that advertisers like:
Source: NRS Jan to June 2009 PPA – Adults reading one of the 147 titles listed on the NRS
Readership of magazines online
• Readers are getting used to the free content online nowadays
• How many paying readers out there and remember ads or take action on them?
• Web2.0 & Web3.0: Magazines (online) are facing tough competitions from social media, other websites that provide similar content to magazines may take away readers
• How to measure the effectiveness of online advertising?
Facts that concern advertisers
“Fish where the fish are and
you will be a lot more successful”
Sergio Zyman (2002)First CMO for Coca Cola
Anyway…
Stats & trends
• Most are “very satisfied” or “satisfied” with their digital publications
• Timelier, easier, environmentally friendly, and more searchable.
• Spending longer reading online publications compared to print versions
Digital magazine readers
Source: Qmags. (2010). 2010 Annual Digital Magazine Readership Survey
Stats & trends
• More creative and engaging by having the ability to use different media
• Audio or video giving the reader a different experience • Clearly capturing the readers’ attention
• 55% of the survey respondents said they had clicked on a link within an advertisement
What about advertising in digital edition?
Source: Qmags. (2010). 2010 Annual Digital Magazine Readership Survey
“ In the near future, most
digital content will be free. Who will pay for it? The advertisers will. ”
2020 Shaping ideasJeffrey Cole (2010)
Will advertisers continue to support magazines online?
• Printed advertisement income has shown moderate growth
• Online advertisements are driving growth• More opportunities for advertisers with
interactive content in a way not possible in print at lower costs
Going digital is the future
Will advertisers continue to support magazines online?
• Bearing implications of dual products in mind: Content + Readership
• Readers are migrating online• Advertisers can directly reach target
audience online
Will advertisers continue to support magazines online?
• Print: Circulation is low/on the decline • Online: Few unique visitor
• Glossy lifestyle and leisure titles• Print: High circulation• Online: High traffics• Quality content • Attractive readership demographics & profiles
Thank you. @Rachel Zhong