In the last six months we’ve witnessed many magazine CMR firsts—the first ever report for Popular Science, the first epicurean CMR for Fine Cooking, and now, the first weekly magazine CMR for The Economist.
As we continue to watch the steady demise of physical print media at the unapologetic hand of the internet, mobile media is proving to be a source of intense growth and opportunity for publishers. Not all print media is created equal however since magazine subscribership remains resilient while newspaper circulation continues down its dark downward spiral. Without finding ways to quickly increase circulation magazine publishers face an uphill battle of lower advertising revenue coupled with rising talent, production, and material costs. It is now clear that mobile (not Web 3.0, if that is even a reality anymore) is the knight in shining armor breathing new life into an otherwise stagnant medium.
Smart phone and tablets power one of the fastest growth spurts magazine publishers have seen in recent memory. Publications like The Economist and Popular Science Magazine who actively embrace mobile with beautiful and user friendly apps are reaping the rewards with massive mobile subscription growth. They’re extending reach and providing immense value to consumers who want instant news, articles, and scientific research on the go. In return readers are shelling out real dollars for single issues and subscriptions instead of relying solely on free content from social media.
Reports like ABC’s Consolidated Media Report bring a whole new level of insight to publishers and their advertisers. Making sense of the flood of data generated by mobile and integrating it into cross platform media buys is the only way to access and take advantage of a consumer’s media usage pie. The keys to the future exist within data and those that can generate and make decisions off of it will be the most successful. These insights are becoming increasingly more important as advertisers continue to push ROI campaigns goals and are being held even more accountable for their marketing spends. It’s a pleasure to finally welcome print into the age of measurement and accountability.