IDG’s Clear Vision for the Future
In this day and age of Print vs. Digital futures that publishers seem honor bound to argue about, as if the future isn’t as clear as the computer screen you are reading this on, I feel I must give credit where credit is due. In this case I am referring to IDG. I think these guys are very near the future of publishing, have a clear vision and a working step-by-step agenda to get themselves there … posthaste.
Here is a link that covers IDG very nicely and a few pulled quotes from the article:
“… IDG has axed print editions of around half a dozen of its most popular magazines and Pat McGovern, the company’s founder and now chairman, says he believes virtually all B2B publishing will move online in the next 10-12 years.
… InfoWorld was distributing 180,000 copies in the U.S. every week when it decided to ditch print, retaining online and events. “Many said without print people wouldn’t be reminded every week of our brand and 40% of our revenue would disappear overnight,” he recalls.
One year later, McGovern, who still privately owns IDG, says InfoWorld’s online revenues had trebled, the magazine’s overall revenues were up 10 percent, and without the costs of print, paper and postage, profit margins went from -3 percent to 37 percent.”
IDG is moving very fast globally and why not? I really like the fact that it has a different publishing strategy for each country it is doing business in. Some countries get more of a printed solution and some more of a digital solution. IDG is not the only company moving like this, but it is wondrous at its successful implementation. I applaud any company that can see a hint of the future and make aggressive steps to get there in the same decade. What about your company? What is your plan for the next five to 10 years? If you don’t have a plan, you will be where you are, which will be further behind any and all of your competitors who are moving on.