BoSacks: The Profit Prophet
Call to Action: The formula construction of a magazine’s distribution will become a central battle for relevance. If publishers do not take an aggressive stance, outside forces will steer a solution away from the interests of the magazine industry.
Key Trend #4: E-paper is rapidly developing flexible, color displays.
Although the Amazon Kindle is not ready for prime time, it is a prime example of where we are headed. Our Media-Ideas researchers predict that by 2020, e-paper’s worldwide market will be worth more than $20 billion. We further predict that by 2020, the annual global production of e-paper displays will be 500 million units with a unit price of $50. Imagine a piece of paper that is a screen, plasticized at first, but becoming more and more like the pulp we have all grown to love.
Call to Action: If digital magazines have not made sense to you, your readers and advertisers, they will with full-color e-paper. Publishers must be acting on their digital magazine implementation plans today or risk irrelevance.
Key Trend #5: The corporate structure of traditional publishers cannot keep pace with technological changes, causing a misalignment between internal organization and business needs.
In every corner of the publishing organization, employees need a larger skill set—one infused with technology—such as writing a blog, shooting and editing video, and repurposing content. Today’s IT departments are ill-equipped to act upon consumer-imposed requirements. It must fall on the business unit to provide the necessary guidance and forward planning.
Call to Action: Type A publishers need to assign business-technology “visioneers” within each unit of the organization who report directly to a C-level executive.
Call to Action: Visioneers are responsible for planning necessary technology and functionality over five years. Both the business units and the visioneers must be partially compensated on each other’s success.