FOLIO: Show Preview: Are You ‘Winning’ in Publishing Today?
Publisher Power Panel to dicuss new opportunuties, new definition of success.
You may be dominating your market, which is great, but if the market is moving somewhere else, you could find yourself dominating a space not worth having.
The upcoming 2011 Folio: Show–which takes place November 1-3 at the Marriott Marquis in New York City–will include a Publisher Power Panel featuring a cross section of consumer (Steve Kotok, president of The Week), b-to-b (Steve Palm, president and CEO of NewBay Media) and association (Glenn Cook, editor-in-chef, director of publications, National School Boards Association) executives defining and debating the idea of "winning" in the publishing industry today and where the opportunity truly lies.
The Week is one of the few "traditional" magazine brands to make the Inc. 5000 this year, boasting three-year revenue growth of 49 percent to $38.4 million in 2010–and it’s done it primarily on the strength of its print. "A few years ago we may have thought that ads were going to grow faster than subscriptions but our ability to grow subscription revenue and keep growing it has surprised us," says Kotok. "We’re going on the Kindle, the Nook and iPad in January and that’s all going to be circulation revenue. We have a good business–we’re not embarrassed of print."
For many smaller publishers, "Winning is surviving," as Cook says. "We have made a number of strides in diversifying how our content is distributed, and are gaining traction in terms of generating new revenue streams with limited upfront investment. However, given how the economy is affecting nonprofit associations such as ours, the pressure is on us more than ever to produce money."
"Winning" for NewBay Media remains largely tied to traditional quantitative objectives–advertising and circulation growth and digital traffic growth, according to Palm. "Often these results are tied to both the health of the vertical served as well as our team’s performance / effort," he adds. "We win when both the vertical and our team perform ahead of comparable metrics."
That said, NewBay is also seeing growing opportunities outside of these traditional metrics in the areas of e-commerce, lead generation and business / brand extension opportunities. "In these ‘new’ arenas, audience responsiveness, partnerships, entrepreneurship and tech competence are critical to ‘winning’," says Palm. "More than ever, ‘winning’ requires companies and individuals to adapt to the markets served–our depth in these markets and our understanding of the needs / wants of our readers and advertising partners gives us a unique perspective and opportunity to continue to win."