Entering the ‘Other’ World (Beyond Print)
Feit’s online venture plays directly into what might be the third highly priced question for magazine publishers—one which was posed by Time Out’s Tocci: “As a magazine publisher, I also wonder, ‘How can we reach college kids and the Generation Yers, and what are they willing to pay for in the future?’
“Do they expect everything to be free since they are used to going on the Internet and getting it that way?” she asks. “Nobody knows what their habits will be. Everyone is holding their breath to see what the generation coming up will pay for, and if there is enough of a model that will work to benefit them and us. It is kind of a gamble.”
EXPANDING AND BRANDING
A gamble, yes, but Tocci is willing to place at least a few bets to meet new demands and ensure readers turn to Time Out New York over other publications. She says webcasts and podcasts are on the to-do list, but her current solution to the fragmented market has been the creation of a more robust Web site and a television presence.
“Our full magazine is now online, and it is multicriteria searchable. Users can pick and choose the category and day they want to view listings,” she says. “There are a million things to do to make the site sticky, and we’ll be working on that this year. The site won’t replace our print version, but it adds to our menu.”
An on-demand TV station is on the menu as well. “We just launched that station, and we have a share of that revenue stream. Its intention is to expand our brand and drive subscriptions.” (See “Time Out New York Takes to the Tube” sidebar on page 40.)
Also spreading its wings across various channels is Fortune Small Business. “We’re doing events, conferences and blogs, and we’ve done some podcasts,” says Federle. “We don’t deliver to cell phones yet; that is something we are discussing. But it is all part of the buzz factor, and doesn’t really have an appreciable audience for our business.”