Failed magazines

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Magazines Folding

Received your copy of Golf for Women lately? How about Stuff or FHM? Domino?

You won’t be seeing these titles in your mailbox any time soon. It was reported by MediaFinder.com that in 2008 more than 525 US magazines went out of business, and 40 had ceased publication in 2009 at the time of their report. I found a nifty web site, aptly named The Magazine Death Pool and appropriately written by “the Reaper” that’s been keeping track of the blackouts, as well as predicts which ones are next. Today I read in the New York Times online that Conde Nast closed the doors on its hyped business magazine, Portfolio.

An obvious contributor to Conde Nast’s decision was that the magazine’s advertising pages were down 60.9 percent in the first quarter of ‘09 compared with Q1 ’08. This seems to be the kicker for many of the failed magazines. In the midst of a recession, that certainly isn’t surprising. But the increase in online news consumption in a “want it now” society, coupled with the decreased costs of publishing online, have played an important role as well. Some magazines that haven’t folded altogether have moved to online only publication, like PC Magazine. Others are trying to stay alive in other ways.

My husband and I recently started receiving a monthly copy of Latina Magazine and Black Enterprise. We’re not paying for either subscription, and while the content of both magazines can still be applicable to us, we’re as Caucasian as they come. If magazines are struggling, is throwing darts into thin air with a blindfold on really their best attempt at survival? While I’m sure there is some rhyme or reason to our receipt of these magazines, possibly a better investment of their dollars would have been some deeper demographical and psychographical research to find a dedicated following.

We also receive two copies of Men’s Journal each month. One is in my husband’s name and I’m sure the one year subscription we paid for has expired. The other is in the name of someone we do not know. And it is not the name of the previous owner of our home. We’ve been living there three years and who knows how long the people before us were there. So why, then, is Men’s Journal still sending a magazine to this man if he hasn’t lived at the address, or presumably paid for the magazine, in at least five years?

Other magazines we’ve subscribed to in the past also seem to continue coming, even if we haven’t re-upped for another year. We now receive monthly pleas from them to re-subscribe, at a lower rate each time. Some of the rates are so low it’s amazing how they could even cover their costs. This makes them seem desperate and raises the question of whether they’re creating their own slippery slope by de-valuing themselves (if I can get it for free, or hold out for a really cheap subscription, why pay the regular rate?).

I love being able to get news online, but in spite of that, the Kindle, and the otherwise saturated news market, I feel like the magazine will always have a place in my life. It’s nice to have something for guests or bathroom dwellers to flip through; I like the option of reading lighter, shorter stories than picking up a book all the time; and I don’t ever plan on replacing the pretty photos and layouts I get to look at while lounging poolside with any sort of electronic device. I also enjoy seeing a fresh copy of Elle Décor or Redbook when I get the mail as opposed to a bill or another piece of junk mail.

The question is… if there is still a market for magazines with households like mine, how can they save themselves from all out demise? I don’t know that there is a straightforward answer, or a simple solution, particularly during these strained economic times. But I think a good start would be some focus. They should stop spending money fishing for new subscribers that don’t fit their demographic, sending magazines to people who are no longer paying, or begging for subscribers at next-to-nothing rates. Magazines should find their core who are willing to pay a reasonable rate for a subscription, and then cater to them to keep them reading. In some cases, this will mean sacrificing quantity for quality and explaining that to their advertisers. But in the end, wouldn’t they be more inclined to continue advertising if they trust they’re reaching the right audience, and they are seeing results?

What else do you think magazines can do to stay afloat?

read the full article here: http://www.yourfulcrum.com ...