Is the traditional printed magazine model now broken?

Publicis Groupe chairman Maurice Lvy says magazines are doomed, but is this really the case?

Richard Gray, managing director, Prinovis Liverpool
With the industry under so much financial pressure, publishers are seeking every advantage possible and are examining different initiatives to secure revenues – as a result, our role couldn’t be clearer. We need to continue delivering extremely high-quality products quickly, cost effectively and in an environmentally-conscious way. We also have to remain focused on clients’ needs. We print several complex consumer titles to extremely tight production schedules. While this requires the latest technology, our challenge is to provide the flexibility to enable publishers to continue their success in an increasingly diverse media landscape.

Peter Harrison, operational marketing manager, fine papers, Antalis
There is no doubt that many newspapers, particularly local ones, are struggling at the moment and are looking to digital versions to help them survive. Digital versions of magazines have also taken off in recent years, but I don’t think the traditional paper copy is ready to die just yet. People like to flick through the pages of magazines and you can’t do that with digital versions. I can’t see anyone sitting down with a cup of coffee and picking up their electronic version of a magazine – it’s not so tactile and simply does not have the same attraction!

Julia Hutchinson, chief operating officer, Association of Publishing Agencies
I think the commercial model has to change in terms of how brands pay for content. We’re all in a world where we have to demonstrate the value of what we do, whether that’s proving the value of a third party ad in a magazine or proving the value of a brand investing in owning media. We, representing the customer publishing world, have a different commercial model [to most magazine publishers], which ironically in this market turns out to be more robust. We’re not based on circulation or third party advertising in the main. Our industry is supported by a fee-based model, so clients are paying for great content.

Tony Jones, chief executive, Pensord
I prefer to say the model is evolving to build healthier publishers for the future. Magazines can no longer survive in just printed format. The world has changed; the methods and speed with which we can receive information, the pace of life and consumers’ changing lifestyles will change the magazine model. Magazines are brands. Brand extension is one thing, route to market is another. To be successful, publishers must embrace the digital world. Adopted sensibly, this will complement and strengthen the printed magazine. The successful model of the future will see the proportion of a publisher’s spend on print reduce, which will be exacerbated by the recession.