Neil Morgan, Magvault
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Transcript of Neil Morgan, Magvault
10% is critical
Until a product reaches 10% of a given market there is no real evidence that it will succeed
2014
$5 Billion
$8.5 Billion
$395 Billion
$2.5 Billion
Pre-internet era
Present day valuations
1851
1952
1974
1922
Who will be the winners in long form/magazine style content?
• Cash to invest• No print baggage
• Understand market• No print baggage
• Subscriber relationships• Excellent discovery
“I’ve said from day one that we are no longer a magazine,”
“magazines will be around 25 years from now.”
Joe Ripp, CEO of Time Inc 2013
Let’s not talk about magazines as it restricts us in our idea of what this sort of content is. Magazine-style content is written by people paid to write or who earn money via whatever method of monetization they can extract. This might mean a journalist on a salary or a blogger funded by advertising. It also includes archived content owned by publishers and contributed content received from readers that is accepted for publication.
The format of this content gives us most problems. Traditional magazines have been monthly or weekly, driven by production and distribution requirements governed by the dynamics of a physical product.
Virtual working practices, digital distribution, multiple channels and user led curation has all eroded the discipline and culture of the magazine format.
Most significantly, the way that readers now consume information has changed significantly over the past 30 years. The web meant that we could read information on PCs, laptops, phones and then tablets. Wearable devices are next.
We no longer rely on TV with set times of broadcast. Netflix, iTunes, Amazon and You Tube all allow us to watch when we like.
Spotify has taught many people more about music in 1 years than they knew in their who life.
Magazines are still stuck in their traditional format and are waiting to be broken open and distributed in a new way that will reach more readers than they could ever have dreamed of.