38th FIPP World Magazine Congress: Day 2 at a glance
In the session, of e- publishing discussing on the fact that how tablets are re-inventing the future of magazines media, Neil Morgan, MD Mcpheters and company, UK says, "Penetration of tablets is expected to triple over the next two years with 7% of sales. The number of publications related to ipads is expanding rapidly." Apple dominates the app market yet another reason for consumers to prefer the Ipad but Android is growing rapidly."
The majority of magazine apps are minimally enhanced PDF replicas. Links are far by the most common form of enhancement. In North America and in Europe publishers are more likely to charge consumers for content. Links are the most common form of ad enhancements. All form of enhancement is more likely to be used for editorial than ads. A great app provides a significantly enhanced experience. Apps are well designed, has features that makes it easy to navigate app. It has rich media content like social media.
According to him, it is still very early for tablet adaptation, app development, quality, publisher entry into market place and subscription availability.
Peo Strindlund, VP sales, Europe and Asia, Mag+ Sweden, says, "it will be a big challenge for the users in the market and for the entrants in the market place." Today digital advertising is 25.8 billion USD and print advertising 22.3 Billion.
Speaking what are the current trends of e-publishing, he says, "The technology is a evolution and consumption is a revolution." The state of the tablet market, as per the research in 2010 an estimated 10.3 Billion users. And I pad remains the overwhelming choice."
Tablets demos are shifting as when ipad was launched the main target audience was a well educated guy in of the age 22 23 tears living in a well settled city but now 45% metropolis spend time on their tablets."
35% more time spend on page, 64% more time spend on advertisements, and 21% increased visibility. There should be certain trends when it comes to e- publishing since it is a multi platform (tablets and smart phones), make sure that the readers are fully engaged with your product and there should be new business models as well. Also look and keep a track of the usage of your application hence understanding the consumer behavior. There should gross engagement over social media.
He conclusively giving a message to the consumers said, "Plan your work and work your plan also learn by doing. Also there should be Packaging, pricing, bundling, visibility, rating and ranking."
Well the second session started with the discussion on the social media phenomenon and how magazines brands can benefit. Today social media is undoubtedly is growing at a very fast speed and has become a multi edged sword which can both build up and destroy a brand. It has become a platform where in day by day more and more users are steeping in. the session also highlighted the fact that how magazines can take advantage of the instant and extraordinary conversations on social media.
A speaker from Meredith said, "Grow your own fan boys and sow the seed which means create content that becomes news. Also grow powerful social ideas."
Smart phones and tablets are performing up to the mark in the Korean market. Well established magazines like Kaya media, Joongang M&B are operating and using tablets and smart phones as their new technologies. He says, "Within 5 years we are expecting good support from the government in terms of publishing qualitative content."
Session on Paid Content & Paywalls, threw light on the fact that high quality content comes at a price, yet many publishers hesitate to introduce charges on their websites and also explained the experiences of publishers who have paid content models, also what's working and what's not.
The last and concluding session was on Magazines: the medium of the future which showcased the fact that despite the drive to digital media, research worldwide consistently demonstrates that magazines are the medium consumers trust the most and are inspired by. The magazine industry is populated by creative people bursting with creative ideas that engage, inform, entertain, and instruct. In this session, leading magazine editors explain how their magazines have built deep relationships with their audiences.
Susan Kaufman, Editor, People Style Watch, USA, shared her experience. The magazine was launched as per public interest with a belief that great style is for everyone. They love to delight and surprise their readers. As per a research conducted on Millennial's connection to print, 59% people trust fashion magazines than fashion bloggers. Also 81% think that magazines are more relaxing. She says, "We think people love magazines more than there IPads and tablets."
Nicholas Coleridge, Vice President, Conde Nast International, UK, said, "Readership of magazines are increasing day by day. We have come up with application based magazines for IPads and tablet users." According to him print still lies in the heart of our endeavors and still remains the preferred platform.
After extensive discussions and interactions through day one, WMC 2011 surely pushed its way up, to keep up to the expectations. | By Aanchal Kohli [aanchal(at)adgully.com]