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Media Intelligence : 2008 Intelligence
magazines Consolidation means more magazines Despite ongoing industry consolidation, Nick Chan, CEO Pacific Publications and MPA Chair says that there is still plenty of choice inmagazines. What does the ongoing consolidation within the industry mean for marketers? Despite the fact that there is consolidation of ownership, there are also two major factors. Online is a major medium that has evolved in the last decade and provides options for advertisers. Pay TV is a more recent phenomenon and has opened up more opportunity for advertisers. If media people are being inundated with the same types of things that I am being inundated with, then their biggest challenge is deciding what are real marketing opportunities and what will help them achieve their sales and marketing objectives. That is the biggest concern because there is a plethora of opportunity out there at the moment. more magazines are going to come out thanks to consolidation. There are major changes but there certainly is a perception that there are fewer players in the media sense and therefore less choice but I certainly feel that it is a very competitive market. ?I think that it is likely that more magazines are going to come out thanks What does this mean for independent magazine publishers? Certainly they could get lost in the juggling for attention by the big publishers, especially in front of advertisers but I think one of their qualities is agility and agility more often than not means innovation. They are much more focused on niche markets which means they have a greater understanding and execution, so I think if they focus on their particular qualities and strengths, they should continue to do well. to consolidation.? – Nick Chan, CEO Pacifi c Publications/MPAChair How are media agencies keeping up with all the changes taking place, especially with digital and the move to cross-platform integration? I think they are welcoming it. Unfortunately I think in a lot of cases it [cross-platform off erings] is becoming cliché rather than real value and understanding why they want to do something and if they should be doing it. Where it is done and executed really well, there are some fantastic results coming through. We have done some stuff as a group with Toyota, and some other activities with the Lauder group that haveworked really well. Is the magazine industry shrinking? No. I just think it means that there are fewer players in the marketplace. I think that it is likely that 42 MEDIA Trends + Strategy What is the biggest issue for magazines going forward? Consumers have a lot of “media” thrown at them, and to rise out of the pack and be more relevant and engaging continues to be the biggest challenge, because as a paid medium we have the extra burden to carry, but that means that we have to be that much more special to occupy peoples’consumer time. In the case of advertisers it is exactly the same thing. We need to make sure people clearly understand what magazines have to off er which is a targeted engaged audience. In terms of brand building, it is a fantastic medium. It provides a medium, as shown by research from the MPA, where the advertising is actually non- intrusive, in fact welcome and therefore taken in by the consumer. I think it is one of those mediums that is still delivering consistently year in year out. What media buyers should be thinking about is how they can use magazines better than they have.