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The Economist grows reader revenues by 50%, magazine market underinvested by more than £220 million, and more…
Mind the (ad spend) gap
As digital advertising has matured, brands have abandoned magazine ads in favour of the more detailed metrics and hyper targeting that online offers. As a result, magazines have gone from taking 5% of ad spend in 2015 to just 3% today.
But multiple studies have shown that magazine media actually offers a lot of value in terms of attention and effectiveness, and that ad underinvestment in the magazine market could be a staggering £220 million.
This week, we round up the key takeaways from a new study by Magnetic on how agencies and advertisers can optimise spend across campaigns by including magazines as part of the mix.
The goal is not to convince brands to splash out additional tens of thousands of pounds on mag ads. Instead, it’s about making a strong case for marginal gains that can be achieved through rebalancing the media mix. Small changes? Big difference.
What’s new this week
A relentless focus on providing value to customers has not just boosted reader revenue, they learned that their subscribers actually thought The Economist was charging them too little.
| Events are an increasingly important revenue source for publishers: FIPP report According to the report, 78% of millennials choose to spend money on a desirable experience rather than a material product. |
| Closing the ad spend gap: Why magazines are a missed opportunity for advertisers Magazines have gone from taking 5% of ad spend in 2015 to just 3% today, but multiple studies have shown that they still offer a lot of value in terms of attention and effectiveness. |
| How publishers can effectively manage technology and transformation: Insights from Aller Media How Aller Media is taking advantage of willingness to subscribe in Norway, and their collaboration with other publishers for a single sign-on project. |
| UK digital advertising spend increases 13% to £7.3bn The analysis shows that Display (video) and Search were the biggest drivers of growth between January and June 2019 – up 27% and 13% respectively. |
| How AI can benefit resource-challenged newsrooms: WAN-IFRA report From creating news stories automatically to optimizing content delivery, an increasing number of newsrooms are making use of AI to automate and augment their newsroom processes. |
| Writing your welcome email: A guide with examples Only 48.4% of newsletters send a welcome email. This is a huge missed opportunity! |
| The publisher’s guide to repurposing content, from podcasts A podcast provides quality, engaging and informative content that is wasted as just an audio file. So start recycling. |
| Micropayments in publishing: where are we at? What’s all this about with micropayments? And, does the fact that few are trying it suggest that the approach is at best flawed, at worst unworkable? |
| Low-friction models gaining traction to supplement magazine subscription strategies Consumers will pay for subscriptions to very few things that they really value, and magazine media offers exactly that type of trusted, authoritative content. |
| 10 startups helping simplify the world of media Powered by initiatives like AI and blockchain, these companies have sought to answer some of the key issues that have dogged media and publishing companies for the past decade. |
| “Most of Google’s public statements are false or misleading”: Field report on what actually works The survey aggregated marketers’ perceptions of the ranking elements used by Google’s search engine, and asked questions around the level of trust in Google’s public statements. |
| How to innovate in a fast-changing publishing world In the fast-changing publishing world, every business is looking to innovate. But getting it wrong can cost money and leave you trailing behind the competition. |
| World Media Awards 2020: Open for entry Entry for the World Media Awards 2020, celebrating the collaboration between brands, agencies and media partners to create effective international content campaigns, is now open. |
