How Much is a Magazine’s Content Worth? Part II

With advertising revenue less reliable than ever—overall ad spending declined another 15.1 percent in Q1 2009 (Bernstein’s Research)—this prolonged and brutal economic downturn will claim even more magazines before the year is over, requiring the rapid development of alternative revenue streams and pitting those still standing in an intriguing, high-stakes game of "Outwit, Outplay, Outlast". One of the seemingly obvious steps to take would be to raise the deeply discounted subscription rates that were formerly subsidized by advertising, sending a clear message to readers (and advertisers) about the true value of the content being published. While most magazines would undoubtedly lose subscribers, the ones they retained would be more profitable, more engaged, and more responsive to relevant advertising and direct-to-consumer offerings.

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How Much is a Magazine’s Content Worth? Part I

I'm no fetishist or luddite, though, and while I tend to favor print, my definition of a magazine is platform neutral. I've worked in magazine publishing for over 15 years now—from audience development to advertising sales, freelance editorial to events planning, corporate to DIY—and stand firmly with the digital generation that's purportedly out mugging elderly newspapers in broad daylight, and striking fear in the hearts of cowardly and superstitious magazines in the middle of the night. Seeing subscription offers like the one above for Fast Company and Inc.—two solid print magazines devaluing their editorial content at only $.75/issue while simultaneously making it all available for free online—I think that the death of the current ad-supported model is inevitable and, arguably, a good thing.

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Hanging with the Estefans on Ellis Island

Ellis Island 096 by glecharles
Ellis Island 096 by glecharles

One of the best things about working for a publisher based out in the Midwest is that I sometimes get to play Peter Parker at events in New York City when no one from a particular magazine can attend. A few weeks back, it was the NY Round Table Writers Conference thanks to Writer’s Digest, and yesterday, I went to the 2009 Ellis Island Family Heritage Awards on behalf of Family Tree Magazine, and took a bunch of photos and wrote up a brief post for them that’s now on their blog:

Ellis Island Hosts Stars, Expands Museum

Emilio and Gloria Estefan accepted the inaugural B.C. Forbes Peopling of America Award in a star-studded 8th Annual Ellis Island Family Heritage Awards ceremony yesterday, hosted by actress Candice Bergen in the historic Great Hall on Ellis Island.

The awards celebrate the lives and work of individuals who immigrated to America and their descendants; with the Forbes honor going to those who arrived through a port other than Ellis Island. It reminds us that America continues to be the destination for those seeking freedom, hope and opportunity.

I’ve never had any particular connection to Ellis Island since none of my ancestors came through there — and despite growing up here in New York, I had never visited, and still haven’t been to the Statue of Liberty — so I was a bit perplexed when I saw the Estefans were being honored considering their very non-Ellis Cuban heritage.

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Kris Allen is the next American Idol

Kris Allen and Adam Lambert, American Idol
Kris Allen and Adam Lambert, American Idol

In a just world, at the end of a season that featured the most raw talent they’ve ever assembled, Kris Allen would be this season’s American Idol in a landslide and authenticity would be hailed as the new black.

Period.  And shut up. (Especially you, Kara DioGuardi!)

Of course, we don’t live in a just world — if we did, it would be Kris vs. Allison Iraheta — and Adam Lambert is supposedly the prohibitive favorite going into the finale.

Here’s three reasons I think Kris will pull off the “upset” that really should be a no-brainer:

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Starbucks, I Done You Wrong! #smwin

Starbucks is more socially responsible than I thought.
Starbucks is more socially responsible than I thought.

One of the great things about “social media” is the ability to engage in conversations with a variety of people, anywhere in the world, on pretty much any topic of interest, no matter how obscure or inane. Thanks to forums, blogs and Facebook, I’ve connected with poets, writers, comic book fans and creators, and re-connected with friends and family, past and present, most of whom I don’t get to see nearly as often as I used to. My.BarackObama.com pulled me deeper into a political campaign than I’d ever been.

On Twitter, the shiny objet du jour, I’ve connected with insightful marketing and publishing professionals with whom I’ve had many interesting conversations and from whom I’ve learned a lot.

From a marketing perspective, new social media tools offer an incredible opportunity for companies to engage with customers (and potential customers) on a level that old-school interruption advertising and media relations simply can’t come close to. While some choose to avoid them completely or approach them tactically for preemptive damage control, I prefer to see them enabling proactive engagement, joining the community and participating in the conversation, no matter which direction it goes… and sometimes it can go in unfortunate directions, as Amazon found out a few weeks ago.

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What New Media Can Learn From Slam Poetry

"I have just read the immortal poems of the ages and come away dull. I don't know who's at fault; maybe it's the weather, but I sense a lot of pretense and poesy footwork: I am writing a poem, they seem to say, look at me! Poetry must be forgotten; we must get down to raw paint, splatter." Charles Bukowski Confession: I loathe most formal poetry. Sestinas, sonnets, terza rimas, oh my! While I appreciate the exercise of writing in a particular form, the end result is usually a self-indulgent bit of forgettable wordplay rarely worth reading, never mind hearing…

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