Changing the Model

A change to the print model has been a long time coming. Will it work?

I’ll come right out and say it: Print magazines should be premium, consumer-driven products.

In an age when ad sales are declining and we can get almost any information we need—whether for educational or leisure purposes—online for free, print must move to a consumer-driven model and provide an experience. It has to be destination-based, must-read, can’t-miss content packaged in premium-feeling paper, a larger trim size, and—last but not least—feature exceptional writing and photography.

But, the move to this premium model comes at a cost—usually frequency of production, which isn’t such a scary move with ad revenues dwindling in this channel, and allows the brand to move to a consumer-driven model, which is key to print’s survival.

That’s right: The audience will have to pay for what it gets instead of spending less than $1 an issue for an annual subscription.

We went through a change to this model at Horse&Rider just before I left in February 2019. After careful consideration, we moved from 12 annual issues to quarterly production. We increased the trim size, upgraded the paper (which automatically improves how photos print on the page), and increased the amount of content in each issue. The goal was to provide a premium product the audience was willing to pay for in a subscription model.

I read this article this morning, which details Meredith’s move to a premium, consumer-driven model for a few of its legacy titles—lowered frequency, higher quality, subscription-only. They’re even changing the group’s name from the Special Interest Media division (producing special-issue publications, or SIPs, which focus on a singular topic) to Meredith Premium Publications.

Moving to lowered frequency theoretically frees up the editorial talent (and monthly editorial budget) to work on new-media projects and revenue streams like podcasts, video platforms, digital subscription-based offerings, and digital editions of repurposed past content. It keeps the brand on track to grow digitally while still showing its commitment to premium print publications and the inherent value, branding, service, and integrity that come along with them.

It also allows advertisers to use each medium to advantage. They can use print as it makes sense for them—branding, for example—and more immediate digital means for new product launches, special offers, and other quick-turn needs.

I worked with a publisher who always told advertisers, “Print is the only content people still pay for.” That’s changing slowly with an uptick in digital subscription models, but it’s still true. If publishers can position themselves in a consumer-driven model for print, bringing advertisers along but not relying on them, and finding revenue streams digitally for advertisers, it’s a win-win for the brand and the audience.