The latest cover page of Fortune Magazine claims that "Business is Back"! So why does it seem that each new edition is getting thinner and thinner? Back in the dot com boom, Fortune, Business 2.0, Fast Company, Red Herring, and any other business magazine were packed with articles and advertisements. Now the ads you see in Fortune are the "Special Advertising Section" specials they fill to look more informercialish in nature. Question: Does anyone really read these secdtions? The "Business is Back" edition has a huge "Special Advertising Section" dedicated to law firms. Not exactly riveting content. It appears that magazines are running out of ideas for turning readers into consumers for their advertisers.
Fortune is a great magazine. It used to take me a few days to read through the edition, but now I can finish the entire magazine in one sitting. There is a renewal letter somewhere on my desk, but with all the newsfeeds and other trade magazines filling my mailbox, I am not sure if the price is worth it anymore.
The trends of advertizers moving their budgets to on-line campaigns (see Google) and the fragmentation of magazines are negatively impacting these previously world-class publications. There are no shortage of industry vertical publications (in fact these publications seem to be growing like weeds), but the general magazines are losing their attractiveness to advertisers. The trend seems to be mirrored by the major TV networks, who are seeing their viewship and advertisers moving towards vertically-focused cable channels and YouTube. The once dominant general media properties are now finding themself in the middle of the road, and that is not the place you want to be when the mack truck called the Internet and the heavy, steady traffic of industry-vertical focused media properties are coming from both directions.
Do you think that magazines like Fortune or Forbes will be able to survive?
3 comments:
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