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The Future of the Magazine Business: Looming Uncertainty - Essay Example

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With a flurry of social networking sites which are adding subscribers by the millions every month, the general impression is that everyone who matters has migrated to the internet and its myriad social platforms. Our attempt is aimed at shedding light on this topic through different perspectives on the magazine business…
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The Future of the Magazine Business: Looming Uncertainty
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Download file to see previous pages He terms them as disposable literature and yet fully endorses the evergreen presence of such media. We can extend this argument to the business of magazines. Magazines are also a disposable form of media. It is quite evident that any of the e-readers or netbooks or laptops which serve as the digital platform for news and content cannot be conveniently disposed off. They come at a price and they carry substantial status value to the owner. Hence these technology gadgets are likely to occupy a certain pride of place and accordingly people are likely to keep them away from physical newspapers and magazines of any kind. On the one hand, you have disposable stale stuff such as yesterday’s newspapers and last month’s magazine; on the other hand, you have this technology gadget. Obviously, both merit a different kind of attention. Now we come to the crux of our essay. It is evident that magazines are going through a crisis. Circulation figures have dropped due to lesser off takes from the retail shelves. In addition, the advertising revenue has dropped. This is because a lot of advertisers have spread themselves thin, they are moving out to the internet websites, putting up flashing banners and focused messages on a plethora of potential sites. Their hope is that the target customers would be guided from these websites to their product or services, which could be online or in the physical world. On the other side, the magazines definitely lose out on their advertising revenues. Therefore their margin pressures build up. It is quite possible that a lot of newly established magazines shut down within a year of operations. While analyzing an industry, we look at both sides of the coin. On one side, we have the products and services...
While analyzing an industry, we look at both sides of the coin. On one side, we have the products and services of the industry, which in this case is the magazine and its content; on the other side, we have the customers, suppliers and competitors. Since customers are declining and competition is continually rising, margin pressures persist. Additionally, raw material cost pressures add to the burden. A fickle customer base which does not want to commit to a yearly subscription adds to the industry’s woes. A few decades back, a lot of magazine titles used to generate confirmed annual revenues from subscriptions. Nowadays, that is not the case. Whenever customers visit their neighboring retail outlet, they can exercise their freedom to pick up a different magazine every other week. Variety has started to kill margins in the business. Technology, a great enabler is often touted as the next big thing. It could be anything from television on your cell phone or tablet PCs that enable you to fit your business into your pocket; they assist in communication and aspire to do all your everyday tasks for you, e-readers that digitize hundreds of books and other such technology gadgets have unconsciously hit the magazine business. ...Download file to see next pagesRead More
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