The role of magazines in the new media age

Folio: The Magazine for Magazine Management, June 1, 1997

Following the publication of our new media study, "A Research Report on the Role of Magazines in the New Media Age," in May 1996, it became clear that the best way to support the continuing dialogue on new media issues in the magazine community would be to do it principally on the Web, the one venue that relieves us of the burden of physically producing bodies and voices at a set location and time.

More than 200 media professionals have joined the new media panel we launched in 1996. We have been rewarded by spirited exchange on the most vexing and promising new media developments through the Cowles Web site, MediaCentral.

But now we have decided to use that easy-to-transport, easy-to-scroll traditional medium, print, to report on our progress.

The issues do not define themselves neatly. In one sense, everything about the Internet seems anecdotal. Almost everything is experimental and evolving. You can feel the Internet/online energy, the momentum building. It is certain the Internet will hold a powerful place in one form or another as a new medium, a new channel, a new force in communications.

We believe the excerpts we have chosen for this printed summary of our "dialogue to date" reflect the intellectual intensity and deep consideration being given to new media by all industry professionals. We hope the categorization of issues and the boldface banners on comments will guide you comfortably through the points of view of contributors.

Space limitations govern our selections here, but in the infinite space of the Internet we are able to record, store, amend, update and retrieve individual contributions. To add your own views, in disagreement, agreement or amendment to those expressed here or to request a copy of the 1996 report, e-mail: Medillstudy@cowlesbiz.com or post your comments directly on the Cowles/Medill Research pages of Mediacentral.com.

We wish particularly to acknowledge the continuing support of our research effort by the Magazine Publishers of America, The American Business Press, and the International Federation of the Periodical Press (FIPP).

Co-Directors

Hershel B. Sarbin Sr. Adviser Cowles Business Media

Donald E. Schultz, Professor Integrated Marketing Medill School of Journalism Northwestern University

General Editor

Barbara Love Cowles Business Media

Coordinator

Dianne Murphy Cowles/Medill Research Report

BEYOND PRINT: WILL MAGAZINES ADAPT?

Magazines will have to move beyond their roots in print

The Web is increasingly becoming its own graphically interesting medium. The ongoing introduction of new technologies continues to push this envelope. The Web is not print and it is not broadcast; it is its own unique form of expression. Companies that are "Web-centric," in particular start-ups that exist only or primarily on the Web, are likely to be adept at evolving with the technology. Magazines that want to compete successfully in the online environment will be those that move swiftly and deftly beyond their roots in print and develop innovative, visually exciting products.

--Bruce Judson, Time Inc. New Media

Special challenges face business-to-business publishers

Vertical communities are beginning to form online around specific industries and professions. Trade publishers have a vital stake in this process: Their magazines and directories will generate $8 billion in revenue this year serving the same vertical markets in print. But these trade publishers face significant cultural, technical and business-model barriers to bringing their readers and advertisers online. Forrester Research concludes:

* A new breed of vertical community builders will emerge to serve individual segments. Their sole product will be the active online community they attract and cultivate.

* Start-up ventures, like c/net and Market, are best positioned to cash in on this opportunity.

* Trade publishers must either commit to an open-ended, long-term investment in building a vertical community online or license their brands and customer databases to newcomers who are willing to try.

--William Doyle, Forrester Research, Inc.

WILL ADVERTISERS AND SERVICE PROVIDERS BECOME OUR COMPETITORS?

Content will still be the primary draw online

Advertisers will draw an audience as they tell their own story--for those who want to seek them out. But, the content providers will be the dominant force in drawing an audience. People aren't going to go out of their way to be sold to day in and day out. You don't get on the freeway to look at billboards--you get on the freeway to go somewhere. You don't tune in a television program to look at commercials you tune in to watch a program (content). You generally seek out more information after your interest has been stimulated by some prior awareness of a product or brand. So l think content will still be the primary draw online.

Over time, advertisers will be direct marketing via the Internet as they (and we) do with direct mail now. But it will be expensive (as it is now) to collect, organize, manage and update prospect lists. There are psychological barriers to overcome. We don't like intrusiveness on our monitors any more than we like it on the phone during dinner. I feel that advertisers will always love to ride on content, because it is cheaper to ride along than it is to deliver the audience.