I’ve probably spent as much time thinking about the future of print magazines in the couple of weeks since I left the magazine industry as I did when I was in it!
The reason is that newspaper consultant/critic Jeff Jarvis recently asked ‘Are magazines doomed?‘ in an article inspired by the closure of Portfolio magazine just as publisher Conde Nast launched a UK version of Wired.
The comments on his article had an interesting split between those for and against print as a medium generally, as well as a few questions around the revenue streams employed in magazine publishing.
My hypothesis is that print magazines will prove more resilient than their newspaper counterparts, but eventually they’ll share the same fate due to a twin pincer movement.
Their resilience is in part due to the difference in content, and the difference in format. The majority of magazines are providing something in addition/as an alternative to the breaking news that the internet disrupts so effectively. Their strength is not only in providing analysis, insight and features, but also in conveying this information with fantastic photography and design. And by doing so, they can provide a far more engaged audience interested in a specific topic.
Here come the pincers…
The first claw closing on the magazine industry is that the online world is evolving far more rapidly, both in terms of community, as Jeff points to, but also in terms of more content-driven websites and blogs. As the market for blogs fighting to break news in niche topics has become increasingly saturated, and coincidentally many more journalists and freelancers are looking outside of print following recession-instigated redundancies, so the levels of insight and expertise available online will increase.
It’s easy to forget in the tech/online bubble that the ‘mainstream’ mass readerships are still located mainly in print, even as they start to move away in many cases. And as much as the online world can criticise traditional display advertising for irrelevancy, digital monetisation still needs to evolve in effectiveness around content.
But the people best placed to effectively make a decent wage online are those experienced journalists and writers who are able to produce specialist books and in-depth articles – those who are also most valuable to print editorial teams. As they increasingly look at digital opportunities, that’s where the biggest content threat will come.
The other pincer?
The other defence of magazines is due to the format – the incredible photography and design which can inspire as it’s displayed on your coffee table.
The problem is that the quality of a format is not a guarantee of it’s survival. While those magazines favoured for their design qualities will doubtless be the most resilient for the future, the fact is that the utlity of digital formats for accessing and sharing information will overcome the quality of the pile of magazines left gathering dust in a box under the bed.
And that’s assuming that technology stays roughly equivalent to what is available right now.
Even as I was about to write this post, a post by Om Malik appeared in my RSS feed – Vogue on Your eReader? New E-paper Tech Will Make It Happen. It happens that a group of researchers at the University of Cincinnatti in Ohio have created a new technology which allows them to recreate the colour and brightness of print. The link has a full explanation, but not only is it much closer to the beauty of print, it also is far more energy efficient than the current Kindle-type displays.
So what’s the answer then?
There are two very likely scenarios for print magazines in the next decade or less. One is that very small run, niche print magazines might survive with subscriptions, display advertising and additional revenue streams due to cult levels of devotion.
The second is that magazines will increasingly follow the ‘digital only’ route which newspapers are being forced into, and we’ll see some find ways to monetise more effectively than display advertising. The others will become marginalised or disappear due to the increased expertise of the new competitors they’ll suddenly discover that have been on the web for years already…
