Best of Bo: 'Iconic' Business Models, Digital Symbols and The Cost of Magazines

Iconic is not a business model

An article from Forbes by Jeff Bercovici denouncing the movement of labeling magazine big wigs as 'iconic' is letting us know that the word is not synonymous with unbreakable. Titles like Time, Reader's Digest and Rolling Stone have recently come under the weight of financial issues even though they're all considered heavy hitters in the publishing world. But as we know from reports of bankruptcy, debt and major sales, no one is imperceptible. Bercovici alleges that the magazine's who strive to evolve into the digital age will be the ones who last through this transition. The ones who 'believe too firmly' in their own status as iconic will be the ones who are doomed.

Asking the question "How Will Magazine Titans Merge?" is Christine Haughney at The New York Times and she's looking right at the Meredith Corporation's takeover of Time Inc. Quoting the chief executive of its parent company Jeffrey L. Bewkes, the article states "Under Meredith's management, with their ability to monetize marketing services for the Time Inc magazines, [they] would be better off and more profitable." Magazines like InStyle will be made to thrive under the transition because of Meredith's willingness to aggressively invest in the titles.

Publishing Needs a new symbol for the digital age

The opening line of Francois Joseph de Kermadec's article for Tools of Change for Publishing is a good one.

"Books are no longer the tangible, brick-shaped presence they were: they must, instead, be stretched and poured into and onto any device fit for reading, from the laptop to the Kindle to the phone."

With the innovations in technology and how people are reading and receiving content, books are no longer the ultimate symbol of publishing and the physical expression of the text. De Kermadec is mourning the loss of symbolism as it is presented by the publishing industry and is addressing the obviously (but never articulated) need for a new product to represent it that confirms its movement into a new age. 

Also contemplating the avenues of new mediums is Stuart Elliott at the New York Times by asking, "Are These Ads Worth the Paper They're Not Printed On?" He too has noticed a change in the way people are receiving their content from outlets that used to be reliable as well as safe. Nowadays advertising mediums are videos that promote the merits of paper and print. Some might think it's a bit confusing while others believe it lends a shred of credibility to the industry.

The Cost of living with magazines has gone up...

 "...But Has the Cost of Living Without Them Become an Option for Some?"

In a very interesting article from Mr. Magazine, the author lists the magazines purchased from Wal-Mart in a single trip, a purchase that cost over $140. There are eighteen magazines in total and they are listed here with reasons why they were bought. Besides possibly being the sole savior of the single issue magazine, the author is simply offering up a fun look at what we spend money on when it comes to magazine titles and how we spend our money. For example an issue of Recycled Style (a magazine about recycling innovations) is over $12.

In the 1970s, Bob Sacks founded his own weekly newspaper in New York. Today, his firm Precision Media Group publishes a daily e-newsletter that delivers timely industry news to over 16,500+ subscribers and is the longest running e-newsletter in the world. You can subscribe to his newsletter here.

In the 1970s, Bob Sacks founded his own weekly newspaper in New York. Today, his firm Precision Media Group publishes a daily e-newsletter that delivers timely industry news to over 16,500+ subscribers and is the longest running e-newsletter in the world. You can subscribe to his newsletter here.

Don't miss Bob's keynote at the MagNet 2013 conference.