Pressure on consumer titles sees NME shut down after 66 years as sales of top 100 magazines drop by more than half in the UK and Ireland since 2000. If an icon like the NME is dead, then what about specialist B2B print titles, and what should we as B2B marketers do about this?
Private equity firm Epris announced its deal to buy Time Inc at the end of last month, and according to the Audit Bureau of Circulations sales of the top 100 actively purchased print titles in the UK have fallen by almost half (42%) between 2010 and 2017.
James Wildman, the UK chief executive of Hearst claims to sell nearly 5m magazines a month, showing print is not exactly dead - the publisher boasts 20 million unique UK users per month to its digital offerings, with more than double this number on social media, reports The Guardian media correspondent Mark Sweeney.
The rise of Buzzfeed, Vice and UniLad which all provide news with a social-first approach indicates the advent of the hybrid news outlet - combining the best of both worlds between new and traditional mediums.
LADbible’s website seems almost redundant, since the publication posts and promotes its stories first and foremost social media. This approach invites engagement from its audience furthering not only the resonance of content - stories become frequently viral due to their shareable nature, ensuring wide spread consumption.
Wildman continues “It is true to say that some of the 1 million millennial women every week that look at Cosmopolitan on Snapchat don’t know we also have a magazine of the same name.”
News outlets, whether consumer or B2B-focused, however popular, will continually face the challenge of flexibility and adapting to new media – voice and AI assistants are likely to begin dominating the way we consume news. In the next six months, you may be asking Alexa or Siri for the latest news article on Bitcoin, which will be dispensed in theory by the outlet which has the strongest partnership with the service - The Times for instance - or which has paid the most for the top ranking.
One of the chief purposes of PR is to generate third party endorsements via shared, owned, earned media – and too many businesses are missing opportunities to engage across these new channels. Where is your audience getting its information? It is crucial to identify the key publications or media outlets that your audiences are looking at to know where to push news stories out, and connect with the decision-makers who could influence the future success of your business.