POLITICO’s parent, Allbritton Communications Company, has been busy over the past year–selling off TV holdings, acquiring Capital New York, launching POLITICO Magazine and naming a new CEO. And this week the company showed it’s not done yet; as it announced the launch of a monthly Capital New York magazine.
Capital New York’s magazine will be distributed to around 8,000 key political influencers in New York City and Albany, starting Jan. 27. The magazine will be free and revenue will rely on advertising. The business model and objectives are very similar to POLITICO’s and there’s good reason for that.
"When we thought about Cap’ New York and entering the market it was really about leveraging what we learned from POLITICO," says Roy Schwartz, CRO. I think one of the keys we’ve had in terms of success was having a print product. In DC we have a magazine and a newspaper, and there’s nothing like that in the New York market."
In addition to POLITICO Magazine, 2013 turned in a number of Web-to-print launches, including Pitchfork and Allrecipies. But Schwartz said that trend had nothing to do with POLITCO’s decision. "Nearly everything we do with Capital New York is based on the expertise we’ve developed from POLITICO," he says. "There’s a subscription product, there’s digital, mobile, social, there’s videos and events. The key to the success is to be able to offer clients a true cross-platform solution."
The importance of cross-platform publishing is often lost in debates about print’s fate, or the challenges of collecting "digital dimes," but Schwartz insists, "The best way to tell a story is across multiple platforms." He also says that Capital New York will be one of the only players in that regional market that is crossing all platforms.
Some of the advertisers in the soon-to-launch magazine are existing POLITCO clients, while others are new. Schwartz describes them as "sophisticated" and says they’re a mix of corporations, associations and coalitions that service the political community.
Like the website, The Capital New York magazine will focus primarily on politics and policy. According to Schwartz, media–its other focus–might be covered in the book, but only when it’s relevant.
Schwartz suggests that some of the Capital New York team have roots in print, so logistically he doesn’t expect a lot of growing pains moving forward.