The 10 Most Important Trends in the Magazine Media Industry · FIPP.com | @FIPPworld The 10 Most...
Transcript of The 10 Most Important Trends in the Magazine Media Industry · FIPP.com | @FIPPworld The 10 Most...
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The 10 Most Important Trends in the Magazine
Media Industry
Chris Llewellyn President & CEO FIPP@ Locarno 8.6.16
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Training
Insight
Events
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1 Drivers of transformation
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Embrace chaos
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Culture = the most important factor in change
Peter Kreisky (from interviews with 15 CEOs)
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Culture = the most important factor in change
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1. Disrupt strategically 2. Bring the audience inside 3. No silos, foster collaboration & empower teams 4. Communicated with purpose, effectively
Within this, 4 broad themes
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Disrupt strategically
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Bring the audience inside
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No silos, foster collaboration & empower teams
Break down walls, literally (move into high-energy work spaces)
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Communicate clear purpose, effectively
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2 Technology is a strategic media resource
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Now (Tech is a highlighted in presentation after presentation)
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16
Kadokawa’s content creation ecosystem
Communication
Media
Community Content
Manufacturer
specific
concepts
Stro
ng
co
mp
lem
en
tary
rela
tion
sh
ip
Analog platform including bookstore and kiosk
(People, things, money, information)
Emergence of a social community through co-ownership and sharing
Aims and complementary relationship resulted from the business merger of KADOKAWA and Dwango
Dwango’s content creation ecosystem (Nico Nico Douga)
Digital
communication
Digital media
Digital community Digital content
IT technology
user-generated
content (UGC)
specific
concepts
Digital platform including PC and Mobile device
(People, things, money, information)
Now KADOKAWA has become a publisher with 400 in-house IT engineers
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3 Follow the constantly changing consumer
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Ben Martin, comScore
Changing consumption
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3 broad themes
1. We are mobile 2. Rise of social platforms 3. Play is in a visual world
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We are mobile
“7.2 billion people on the planet; 6.1 billion have cell phones (4.5 billion have running water) … And the average mobile phone user checks their phone 100 x a day.” – Joe Ripp, Time Inc.
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And you have seconds to engage
Average Attention Span Has Dropped From 12 Seconds in 2000 to
8 SECONDS in 2013
(this is 1 second less than a goldfish)
- Joe Ripp, Time Inc.
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Rise of social platforms
Yulia Boyle, National Geographic
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4 Data capabilities and CRM opportunities
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Enhance your data capabilities
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CRM-driven monetisation
Lena Yang, Hearst China
E.g.
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5 Content matters
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A most exciting time
“This is perhaps the most exciting time ever to be in content” – Duncan Edwards, Hearst Magazines
International
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Take a look at National Geographic 730 million people per
month through all platforms
Yulia Boyle, National Geographic
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Drivers of great content UX
Yulia Boyle, National Geographic
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But the game has changed
In the past the role of an editor was like that of the cox, calling the shots. Today it’s very different. It’s more like spinning a number of plates. And sometimes,
some of those plates break…
- Olivier Royant, Paris Match
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6 Creative storytelling creates impact
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Creativity as a business asset
Rob Dembitz, Cannes Lions
“The value of creativity, now, is the highest it has ever been. When you’re more creative you get
more share of voice, you get more share of funnel and that follows through to more sales. These
companies (Cannes Lions winners) , they want to be ground breaking, they want to be shareable. It
creates competition internally, and we’ve found this is infectious. Winning is infectious.”
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7 Cross-border business has changed. Or has it?
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The changing cross-border model
Old model
• Brand-led
• Print-based
• Driven by licensor
New model
• ‘Easiest way in’
• Content & business model driven
• Digital first
• Driven by licensee
• Multiple revenue streams
John Cabell, Cue Ball LLC
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8 Verticals: exploit the full market opportunity
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Working the full ecosystem
Tom Bureau, Immediate Media Co
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Working the full ecosystem
£30 million
£10 billion
E.g.
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9 A word about print
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According to global research
40.1 39.2
18.15 19.5
2.7 7.6 7.9 6.4
16.9 13.7
7.0 6.8 6.9 6.3 0.6 0.5
2013 2016
0
10
20
30
40
50
TV Desktop Internet Mobile Internet
Magazines Newspapers Outdoor
Global share (%) of ad spend, by medium
Zenith Optimedia
2013 – 2016: Magazines: 1.5 per cent decline
Magazines are losing ground
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Evidence to support a different reality
Drawn from 150+
studies around the
world Presented, analysed discussed
at FIPP IF&A
RF&A = FIPP’s annual Research Forum and Awards
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FIPP.com | @FIPPworld Source: The Rules of Attraction Study 2015 wave 2 Proportion of respondents who associate different media with each word of phrase
61% Gives me
ideas
Internet 57% TV 25%
Newspapers 16%
Newspapers 40% TV 28%
Radio 24%
TV 48% Newspapers 50%
Radio 26%
41% Useful
39% Educational
CONSUMERS TURN TO MAGAZINE MEDIA FOR IDEAS
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FIPP.com | @FIPPworld Source: Moments that Matter 2015
LEISURE INFORMATION REWARD SHARING CONNECTING
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SALES
Magazines had highest ROI in a 2012 UK Study
Source: Mindshare/Ohal, Magonomics, UK, 2012
ROI index by medium, aggregated from 77 FMCG campaigns
167
150
137
103
99
97
60
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SALES
And in 2014 a Dutch Study showed magazines had the best ROI’s
Source: GfK Meta study, Magazines.nl, The Netherlands, 2014
130
120 110
90
60
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A few final thoughts
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10 Follow the money
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We need to change the conversation
Business Week - Debate
Nymag.com
Economist
Guardian
Fewer of these headlines More of these headlines
Digiday
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How engagement with ‘readers’ has changed
Time Inc. (UK) … now connecting with consumers in more places than ever
250 million
# of interactions across 60 brands per
year
8 - 10
# of interactions per second
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Change the conversation
Duncan Edwards, Hearst
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FIPP.com | @FIPPworld
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Director of Insight – Group M Head of Research – IPG Head of Intelligence – Havas Research Director – Starcom
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“Quality independent audits are still essential.”
“Still need standard measurement tools to trade on – even if it’s apples and pears.”
“Circulation is still important but is no longer used as a single source.”
Definitions are always a dispute - we want to see more collaboration
“We want reliability and consistency.”
The pre-occupation is a cross-platform solution that demonstrates reach & frequency from a single source.
What they said
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In the UK, the Publishers Audience Measurement Company, a JIC that replaces NRS, is in fieldwork with a launch Due in August 2017 The Netherlands, Switzerland and France are trialling projects too. Spain has adopted Magazines 360° - others are in the pipeline
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Ad operations have to change
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FIPP.com | @FIPPworld
Ad blocking: A battle is on
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FIPP.com | @FIPPworld
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Paid content: micro-payments
Blendle: • 500,000 signed up users • Average price/article = €0.20 • Average refund request = 10% • 1 in 5 top up accounts to read more • Some 5,000 new users/month sign up
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Paid content: Quality matters
“Clickbait gets widely read on the Blendle platform, but it is
the type of content where people ask for refunds.
What works best are beautiful journalistic pieces, that are well
researched. Vivid, good journalism.”
Alexander Klöpping, Blendle
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FOR YOUR DIARY…….
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FIPP.com | @FIPPworld
FIPP New York Media Tour is a three day event visiting some of the most influential media companies in and around New York
Learn first-hand how:
• innovative companies operate
• the latest technologies are going to impact your business
• thought leaders and senior management that are shaping tomorrow’s media trends.
Programme details available early summer
12-14 October 2016 12-14 October
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FIPP.com | @FIPPworld
• PAMCo: transforming industry metrics - Newsworks
![Page 63: The 10 Most Important Trends in the Magazine Media Industry · FIPP.com | @FIPPworld The 10 Most Important Trends in the Magazine Media Industry Chris Llewellyn President & CEO FIPP@](https://reader036.fdocuments.us/reader036/viewer/2022070916/5fb64c4cbd06a52f6626f8ff/html5/thumbnails/63.jpg)
FIPP.com | @FIPPworld
• PAMCo: transforming industry metrics - Newsworks
9th-11th October , 2017
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FIPP.com | @FIPPworld
The 10 Most Important Trends in the Magazine Media Industry
Chris Llewellyn President & CEO FIPP@ Locarno 8.6.16
FIPP.com www.facebook.com/FIPPMagazines www.instagram.com/FIPPworld LinkedIn: FIPP group
Thank you!
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FIPP.com | @FIPPworld
• PAMCo: transforming industry metrics - Newsworks