Seeing the Rack Half Full

The industry is changing; there’s no disputing it. Some say times are tough for the magazine business in the midst of economic unrest; others are still optimistic. Will online versions replace print? Will people begin to see such entertainment as unnecessary luxury and forgo their favorite magazines? What is in store for the world of magazines in the years to come? I’ve decided to take a closer look at what some of the more hopeful professionals are saying.

There has been a lot of talk about Hearst closing the doors on “Cosmogirl.” Conde Nast’ “Men’s Vogue” was recently relinquished and absorbed by “Vogue”.  And there is no doubt that jobs are being sacrificed across the board. But according to one article published in the New Yorker: during a much more difficult economic crisis (namely the Great Depression), some magazines managed to emerge triumphantly and set the tone for a changing industry.

James Surowiecki’s feature, Let the Bad Times Roll, discusses “Fortune’s” success despite its emergence during such hard times. And although this may be an extenuating example, it illustrates a point that optimistic journalists continue to take comfort in; that the magazine industry has always found ways to reform to the times and pull through.

At a recent meeting of the Custom Publishing Council titled, “The Increasing Relevance of Magazines”, president of McPheters and Company, Rebecca McPheters told Samir Husni of Mr.Magazine.com that:

“I believe that magazines are more relevant than they have ever been before. Why? Because magazine readership is growing…magazines give you an opportunity to engage with content that you are tremendously interested in.”

And according to Husni’s statistics, 74 new magazines were launched in October of this year. Although down from 93 in 2007, the number is still high and it shows that people are still motivated to publish magazines.

In another interview he spoke with David Carey, Group President at Conde Nast, who said this when asked whether he thought optimistically about the industry:

“I would think that every industry in the history of the world has gone through what we are going through right now… I think the population of half-full thinkers shrinks right now, but God forbids, it never goes to zero…Out of these periods of time new ways of doing business emerges…new thinkers, new readers…I would say, yes, very much so half-full. I might have fewer brethren who see (it) that way, but I still very much do.”

It’s reassuring to hear people like Carey, who know the industry in and out, speak positively about the business. As with any consumer industry, I think it is important to see the light in dark times. Consumer reaction to existing markets is largely based on how businesses present themselves. Shoppers will avoid a product that is surrounded by negative publicity. The magazine industry is no exception. Because we seek to publicly discuss everything going on around us, we don’t hesitate to write unenthusiastically about ourselves. But in doing so, we only weaken our own industry by letting on to the public that as journalists- we are even losing faith. And if we don’t see the glass half full, the magazine reader won’t either.

As for the fear that digital media has and/or will take over the industry, I for one believe that although it is crucial to incorporate interactive websites and to utilize the internet, people will continue to appreciate the anticipation of receiving their printed version. There is still something to be said for the accessibility and convenience of the actual magazine. I think many people who have loyally subscribed to the same publication for years will agree that reading the same content from a computer screen just isn’t the same. According to the Magazine Publishers of America Magazine Handbook:

“Despite the abundance of online content, few consumers see the internet replacing the print versions of magazines in the next five years, according to new research from MediaVest.”

As a longtime magazine consumer, a student of magazines and as someone who aspires to enter the industry in the near future, I have confidence in the resilience of not only the American economy, but in the magazine industries’ ability to pull through these hard times, make necessary changes to ensure survival and to continue to be a sought after product for news and entertainment alike.