To wrap up 2023, Mediaweek is looking at the biggest trends, events, platforms, and brands of the year.
Welcome to Mediaweek’s A to Z of 2023 … and beyond.
By Taz Papoulis, head of media strategy and investment, at Murmur Group
The evolution and revolution of magazine publishing in 2024
I’ve been in the media game so long that I was selling full page ads in the Yellow Pages to plumbers, before Yellow Pages online even existed.
Fast track almost 20 years and I have seen many publications come and go, some of which I launched including Time Out Sydney Magazine, The Good Pub Guide by Fairfax and many niche publications.
I have also seen the demise of many publications, some of which have shrunk like The Yellow Page or Sydney Morning Herald broadsheet; some of which have completely disappeared and others that have transitioned online such as The Gadget Guy, GQ, Australian Playboy and Rugby League Weekly.
You will see the big press players old and new be completely staunch about print and tell you it keeps the lights on – that’s faith but it’s not quite true.
Media reps are pushed hard with print budgets and often value bundle print and digital to keep a publication’s circulation going. But the reality is the majority of the population gets the exact same information from online, TV and radio.
How many times have you seen the same pieces of content replicated to digital, print, TV and radio – heck, most of the time radio hosts are speaking about a front-page news article.
Granted it may be in the papers first but those media rights carry across online.
Magazines and niche publications are a completely different ball game. When it comes to art, architecture, prestige motor cars, health and wellbeing, even FMCG specials, there is not only a nostalgic element (being able to keep, collect or go back to that important piece of content one day); but an aesthetic element or “feel” to the publication. Be it an ALDI weekly specials catalogue or the best of Grand Designs Home we like to visually see the magazine in our hands, touch the page, wet our finger and turn a corner over.
The problem is print as a whole is in decline and will be for many years; conversely niche publications are steady and many are in growth.
Have you seen just how many business and fishing magazines are at your local newsagent? I still have my last BRW!
Editors and publishers replicate content across web portals from blogs to socials, Reddit threads and EDMs – this reduces the reason to buy print versions due to ease of access. Another prime example? E-magazines and e-catalogues.
This has also happened in the book world with silicon-valley launching apps such as Blinkist (which I highly recommend) which allows you to listen to the highlights of a 300-page business book in 30min and obviously e-books and podcasts. Perfect for the time-poor worker of today.
Granted, the majority of people read a book for the journey in their leisure time but for those looking for the one to two key nuggets or take-outs, the shortest way to that point is preferable.
Industry wide do I see print in decline? 100% it is and it’s proven in publicly available financials for the big players. Category and type wise – it varies. As an example, Better Homes & Gardens, Australian Woman’s Weekly and The Daily Telegraph are still going strong albeit with fluctuations and this comes down to who their audience is.
Older demographics prefer print and with Australia’s aging population and slower birth rates in play, I would argue that print will continue to be key for specific markets for a while.
But fast forward 30 to 40 years when Boomers are almost non-existent, I can’t see a huge demand for print and can probably guarantee 80% plus of all print that is in production now will no longer exist (the physical item not necessarily the brand).
As always when it comes to the question “should I place an advertisement in this particular print vertical”, it comes down to ensuring you have an Audience first approach.
After all, brands need to be where their customers are – always.
See also: Mediaweek’s A to Z of 2023: L is for Lachlan Murdoch
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Top Image: Taz Papoulis