
From widespread industry job layoffs to steep decreases in circulation rates, the climate surrounding the magazine industry from 2007 to 2008 was undeniably growing stormy. There were whispers about the growing number of publications being shut down, rumors swirling regarding industry leadership and speculation that print magazines were declining to the extent that they may vanish completely. The future of magazines may have been cloudy, but one thing remained clear — the magazine industry had a plethora of challenging obstacles ahead.
In 2009 the industry experienced one of its most straining and unsuccessful years ever, and it seemed as if the suspicions and fears of years past were coming true. Magazines across the board were facing losses in revenue, declines in advertising sales and a diminution in subscription rates. Adding fuel to the fire was industry-wide uncertainty about how to tackle an issue relevant to magazines everywhere — technology.
New technological platforms, new outlets for people to connect socially and new media innovations were at seemingly every turn. These developments sparked an exciting time in the digital and Internet arena, but for print magazines, the developments were capturing the attention of consumers, which translated into a reduction of readership, decrease in advertising interest and an interruption of growth of their publications. The industry — publishers, editors, designers, writers, photographers and everyone in-between — began to wonder the same thing: how can magazines establish a successful identity in a new digital world, while remaining true and honest to their traditional roots in print? This was an immensely difficult challenge, and one with no clear-cut answers, but a challenge that if overcome, would be the key to success. The race to find the perfect strategy was on.
For some titles, this was no easy feat, as ad pages and revenue continued a downhill fall in 2009. Even famous titles like Gourmet and Vibe closed their doors later that year, and shock waves reverberated throughout the industry. Publishers and editors realized that injecting new life into their publications was not only imperative, but also intensely urgent. A slew of other magazines shut down and some continued to struggle, but as the months rolled on in 2010, something interesting began to happen — a handful of magazines were actually getting it right.
Ten magazines in particular took on the challenge and found ways to balance the new technological world swirling around them with the old world of print from which they came. For example, Rolling Stone and Cosmopolitan, both cultural icons, found ways to connect daily with readers using two new cultural icons, Twitter and Facebook. Wired was among the first to release an iPad application, and Vanity Fair’s application for the tablet gave readers an experience that is comparable to actually flipping through its print pages. Using the power of television, Marie Claire partnered with hit show “Project Runway” to engage with readers every week, and Food Network Magazine leveraged its inherent tie with the Food Network Channel to promote its specialty articles by on-air chefs. GQ and Bloomberg Businessweek found success using blogs, as both magazines provided exclusive photos, stories and interviews via blog sites. People StyleWatch integrated with the tremendously popular People.com website, and Elle Décor gained Web traffic by pointing readers to their website to learn more about decorating projects seen in their print magazine. So successful in their efforts, these 10 titles were named to Adweek’s “The Hot List,” which names the most successful and influential magazines of the year*.
Performance metrics for these titles indicated growth on a number of fronts, including ad pages, ad revenue and overall circulation. In addition, their online presence was growing, as levels of Web traffic, press impressions and search engine results all increased. The process was not without its share of difficulties, but these magazines were a reflection that there were, indeed, efficient and effective ways to align content via digital mediums while simultaneously holding strong to print traditions.
The industry overall had faced a tremendously challenging time in 2010, but the successes of these 10 titles were a truly welcome indication that brighter days may be on the horizon. While no one can predict what will happen next, the present state of the magazine is definitely one of optimism. Ever resilient and resourceful, titles far and wide are restructuring, rethinking and redefining themselves in ways to ensure their longevity far into the future.
(*Based on Adweek Magazine’s “The Hot List”)