In recent years publishers have often beenfaced with doomsday scenarios and forecasts of their industry’s future. But as we move into 2014 there is a growing sense that a change for the better is in the air. For one, MPA-The Association of Magazine Media says 2013 showed growth for magazine media across platforms and the latest PIB report shows ad losses moderating for consumer publishers.
2013 was actually a pretty good year. In the United Kingdom for example, The Digital Publishers Revenue Index Report (DPRI) revealed digital revenues were up 18% and the North American industry is seeing similar gains. The MPA-The Association of Magazine Media said today that final numbers for 2013 will show that it was an up year for consumer magazine publishers in the U.S. It’s definitely a positive sign on the direction of the industry.
The online publishing world has found its feet in many ways. When digital publishing first became main stream, many publishers used a model based on solely copying their product. Paywalls replicated the historic practice of buying a magazine at a brick-and-mortar news stand. The first forays into advertising within digital publications for the most part replicated the print advertising sales model. The results at first were less than stellar. But today, publishers are increasingly beginning to embrace digital media, taking advantage of the different formats available and making the most of new opportunities. With less and less use of old offline models in 2014, the industry is finding itself increasingly at ease with the digital landscape.
IDC (International Data Corporation) estimated that 190 million tablets would be sold in 2013. While there may have been a decline of print magazine and newspaper readership, more people than ever before pick up their tablets and read their favorite publications online. 2014 offers the opportunity for publishers to take advantage of the mobile boom, expand their audiences and earn more from dynamic advertising programs.
At the same time, online ad spending is increasing and the trend is likely to continue as publishers incorporate online advertising into their customary ad spend. More ad dollars means more revenue for media owners and looking ahead to 2014 the odds are in the publishing industry’s favor. With more brands fighting over premium ad placements, power is increasingly returning to the hands of publishers.
Here’s to 2014.