With digital technology making inroads to the publishing sector, the two-day World Magazine Congress had a separate session which dealt with successful business models for multi-platform publishing.
Paul Keenan, chief executive officer, Bauer Media, UK stressed that content that doesn't add value for the consumer is nearing its end. He said that the line between media, advertising and content is blurring, and that multiplatform consumers are the default, not the exception.
“Influence is the weapon of choice in our battle for attention. Both, media agencies and owners win when they enter into strategic relationships with clients,” he said. He also shared his mantras to develop a success business model: be dynamic, new and different people, put your skin in the game by taking the risk, protect your creative talent, and be digital in every single initiative as it is a fantastic way of interacting.
He also stated that although the advertising prices at mobile platforms are relatively low at present, it is important to optimise mobile presence as it is a promising future market.
Kalli Purie, chief operating officer, India Today started off her presentation saying, “We are in the business of storytelling. In 1970's to tell the stories in an effective way was through print. Today, it is done through presence in all digital mediums.”
She said that to churn out a successful business model for multi-platform publishing the stress should be to have more exclusive content as it give you the edge to be different, and to be the leader. She also stated that a robust mobile strategy is very critical component in the new digital era, adding that her company has over three million text-based subscription users and that the revenue from the group’s mobile services are double than those from internet.
Peter A Kreisky, chairman, Kreisky Media Consultancy, USA through his presentation titled - Blueprint for change – pointed out that in the last few years several new ecosystems have emerged and with them, new opportunities.
He said, “We are within the vortex of several dynamics. And the only things that remain constant are brands, content and relationships and community with audiences. Therefore, always ask - is your brand indispensible for the community you serve?”
He concluded his presentation by saying, “Transformation is challenging; but from disruption comes opportunity. What we need is an adaptive strategy for turbulent times. We made a mistake giving away our content for free on web, and now, we are trying to crawl back. Let’s not repeat it.”