Magazine Publishers of America
NINA LINKPresident & CEOMagazine Publishers of America
Magazine Innovation Summit Opening RemarksOct. 14, 2009
Welcome to the annual fall conference of the consumer magazine industry. I’m so pleased that everyone took the time to attend this first-ever Innovation Summit. There are many reasons why we’ve gathered here… to exchange ideas…to seek solutions…to be inspired …to socialize, gossip and, of course, kvetch…but ultimately to come together as a community focused on the future of our industry. And that’s what we’ll be doing over the next two days.
This conference will be unlike other annual magazine fall conferences. That’s apparent by just looking outside this ballroom.
No palm trees…No desert landscapes…No celebrity chefs.
Nope. This year, we’re all business.
Luckily, we just happen to be in the magazine capital of the world. It’s the second time in the past decade we’ve held our annual conference in New York. Eight years ago – October 2001 – we convened here. The national mood was dark in the wake of 9/11. The Internet bubble burst. Digital technologies were transforming the media landscape. We were coming off a tough year. And our confidence was shaken.
But our industry bounced back. How? Through the strength of our brands to create powerful bonds with their audience and to provide incredible value to advertisers.
The rebound lasted long and propelled us to new heights. But the last 12 to 18 months sobered everyone in the business world. Certainly, after a challenging year, it may seem like we’re floating in a sea of bad news, and if your head is above water, you’re among the lucky. But the bad news you read about in the press…whether it’s about magazines, network TV, newspapers, radio, or the internet… doesn’t tell the complete story…not by a long shot. Every business…every medium…every agency and every advertiser…is re-evaluating their business model in light of two powerful and combustible forces – the prolonged and deep economic downturn, and the disruption brought about by technology.
The story that we need to promote…the more balanced story…talks about the tremendous assets that magazines bring to consumers and advertisers. Our content has never been stronger or more relevant, which is one reason readership remains steady. 75% of teenagers read magazines. Magazines are buzz generators. We’ve got dozens of myth-busting facts about magazines. That’s why we created the video – “Twenty Tweetable Truths about Magazines” – that you just saw. Because we feel our positive messages need to be said repeatedly – by all of us. The messages need to go viral, which is why they’re posted on YouTube. And each message needs to be said simply, which is why each one is a Tweetable 140 characters or less.
Innovation is the theme of this conference and the key to our future. Technology changes everything. By harnessing its power we can transform the way we create content…distribute our products…develop new revenue streams…personalize and customize our magazines...position our brands…and delight our audience and advertisers. Innovation does not mean abandoning our core values in pursuit of any new and shiny digital object that comes along. Innovation offers the ability to do business smarter and faster, and to find new ways of bringing our graphic and journalistic sensibilities to new platforms and new audiences.
For the last year, MPA, working with a Board task force, identified and engaged in conversations with dozens of technology companies to help the industry prepare for and navigate the digital transition. Our exploration of new technologies, emerging digital platforms and transformative business models has introduced us to many of the companies and speakers you will hear from today and tomorrow. Every session will address the technological, operational and creative changes sweeping the business world and the magazine industry.
One last thing, we try to keep our conference costs low and value high, and we couldn’t achieve that without the support of our sponsors. So, before we begin, let me thank the following sponsors who helped make this event a reality: Zinio, Worldcolor, hy.pr, ABC, Demand Media, BurellesLuce, PalmCoast Data, ProtecMedia:In4Magazine, Outbrain, Getty Images, New Page, Pluck and PixelMags.
We’ll take a short 15 minute break at 11 this morning. Lunch at 1 features John Byrne’s interview with Reed Hastings of Netflix, an innovative business that is similar to the magazine industry in so many ways. At the five o’clock conclusion of the Summit, please join me and your colleagues for a cocktail hour in the foyer right outside these doors.
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