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MAGAZINES 24/7: PROFITING IN THE DIGITAL AGE
Wednesday, April 26, 2006Sheraton New York Hotel & TowersNew York City
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Moss: The 16-year-olds are setting the pace in media and all technology."
"The magazine as an object has a very unique place and wont go away for a long, long time. One of the great things about magazines is that its simple. The simplicity of a magazine as a profound, comforting experience is not to be forgotten.
Emerging Business Models
(l-r) Josh Quittner, Editor, Business 2.0, interviews Fred Wilson, Partner, Union Square Ventures
Wilson: In a digital world where it costs nothing to distribute content, content should be free. Content should be micro-chunked to include your brand and your advertising, then you let it moveYou can get paid several ways. You can have the audience pay you, or you can have someone pay you for your audience. The latter is a much better model for the digital world.
(l-r) Bruce Upbin, Senior Editor, Forbes (moderator); Todd Anderman, President, Dennis Digital; Scott Carlis, Executive Director of Marketing, GQ; Thomas Kouck, Director of Marketing and Development, Hachette Filipacchi Mdias; and Jeff Price, President, SI Digital
Kouck, on Choc: Were not launching a magazine, were launching a brand. A magazine, TV, website and cell phone content.
Price, on SI Digitals mobile push alerts: Avid fantasy sport fans spend 50 hours a week in that pursuit. The mobile platform fuels their involvement and delivers up-to-the-moment information.
Grossi: With the dawn of 3G technology, its no longer about recycling content. Its about the consumer discovering a game, creating something with it and sharing with friends. The consumer then becomes the conduit for the delivery of content.
The Aggregators
(l-r) Joe Hagan, Contributing Editor, New York (moderator); Ira Becker, SVP & General Manager, 1Up Network; Aaron Bromagem, VP & Online General Manager, PRIMEDIA Inc.; Dan Orum, Publisher, President & CEO, IDG Entertainment; and Vivek Shah, President, Digital Publishing, Time Inc. Business Finance Network
Orum: We need to be innovative, entertaining and create a one-stop-shop-source. People dont want to click on 35 sites. They want one site where they can get useful information.
Shah: The CNNMoney site far exceeds what [each title] could generate alone. Writers write to be readand weve given them this stage with these great actors attracting a broader, bigger audience.
Levin: Magazines are in the absolute, strongest position in natural or organic search. Google is super-sensitive to the rate that new content is released, and thats perfect for magazines.
Pandering to search today requires compromise. Search is very tuned in to aspects of a page. Once you set a headline, title tag and searchable URL a certain way, youre aesthetically and editorially free to do whatever you want to do to the page.
Video on Magazine Websites
Carr, referencing National Geographics online videos: We cant all do satellite uplinks of giraffes in South Africa, but whats compelling is what lovely stories weve been shown in short-form. Its important to remember that there are great storytellers among us. These storytellers are people your readers would kill to have a beer with.
Clickscales: Video will not signal the death of magazines.
Greenberg: Our mission is to be the leader in entertainment guidance. Our video is about guiding people onto other video.
Community: Think Locally, Act Profitably
Kornbluth: Markets are conversations, conversations are communities. The end of conversation is where your business ends. So how do you co-create with communities and make it part of your business?
Murray: Were hands-off. You have to allow freedom in your community. You have to resist the urge to control the conversation. Let the conversation go wherever it has to go, and people will bring others to your site.
Welch: Editors are my greatest source of inertia. Theyre the hardest to adapt to change.
Moss: When we launched we had no content. The draw to the community was the community itself.
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