Is there still opportunity in print advertising?
This may come as a surprise to some people, and considered no big deal to others. Regardless of which camp you are in, we all should pay attention to the outcome of the media giant’s future as it will likely have implications on how the media operates and how marketers direct their resources.
If the transition is successful, then we may see a trove of other consumer outlets follow their lead. Other magazines have embraced digital-only formats – such as PC Magazine, Gourmet, and SmartMoney – but Newsweek is certainly the largest publication to do make the switch. Thus far, it has been tough to get consumers to subscribe to tablet-centric publications – see News Corp.’s Daily.
While these numbers are true, the other reality is that digital ad revenues are still a much smaller universe than print. PricewaterhouseCoopers projects that in 2016 the digital ad market for consumer magazines will reach $5.5 billion vs. $30.9 billion for print ad revenue.
It’s definitely costs more to print something than to deliver it digitally. But you have a much more captive audience with print than online. I say, before you throw the baby out with the bath water, let’s try to find some more crafty ways to deliver printed publications.
This may not be true in 5 or 10 years, but right now print is still a viable option.