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The Future of the Magazine Business: Looming Uncertainty
Journalism & Communication
Pages 5 (1255 words)
With a flurry of social networking sites which are adding subscribers by the millions every month, the general impression is that everyone who matters has migrated to the internet and its myriad social platforms. Our attempt is aimed at shedding light on this topic through different perspectives on the magazine business…
While analyzing an industry, we look at both sides of the coin. On one side, we have the products and services of the industry, which in this case is the magazine and its content; on the other side, we have the customers, suppliers and competitors. Since customers are declining and competition is continually rising, margin pressures persist. Additionally, raw material cost pressures add to the burden. A fickle customer base which does not want to commit to a yearly subscription adds to the industry’s woes. A few decades back, a lot of magazine titles used to generate confirmed annual revenues from subscriptions. Nowadays, that is not the case. Whenever customers visit their neighboring retail outlet, they can exercise their freedom to pick up a different magazine every other week. Variety has started to kill margins in the business. Technology, a great enabler is often touted as the next big thing. It could be anything from television on your cell phone or tablet PCs that enable you to fit your business into your pocket; they assist in communication and aspire to do all your everyday tasks for you, e-readers that digitize hundreds of books and other such technology gadgets have unconsciously hit the magazine business. ...
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