Today, marketingprofs.com posted another survey on the adoption of e-readers and ipads. This report suggests that almost 60% will adopt an e-reader of sorts within the next three years. The latest CMO Council report out last week, Leveraging Loyalty to Transform Publishing had also polled 1000 magazine subscribers and only 24% of respondents were planning on adopting ipads and e readers.
If you believe in all the hype – you might assume that the magazine industry is dead. That’s why it is ironic that Media Week’s Hotlist for 2009 looked at the top 10 publications and circulation is up an average 5.9%. According to Mediamark Research & Insights (MRI), in the time it took Facebook to become ubiquitous, magazines have gained one million new young readers. Other MRI audience statistics indicate that:
• Magazine readership has risen 4.3% over the past five years
• During the 12-year life of Google, magazine readership increased 11%
The silent killer here is not a paying subscriber, is the lack of advertising. According to the latest Publishers Information Bureau report, total magazine rate card-reported ad revenue for Q1 2010 is down by another 3.9%. The CMO Council’s 2010 State of Marketing Report, reports the marketing outlook for print advertising is grim, as marketers indicate they will continue to cut the print budget in order to invest in digital marketing channels like social media, search and online advertising.
Yet, Leveraging Loyalty indicated the 52% stated they would go online for more information if the advertising in your printed subscription magazines was customized. 59% stated they would not respond to personalized advertising on an electronic device/reader. The shift in the spend is not consumer driven but marketer driven.
What do you think?
