Magazine publishers need to shift to multi-platform players

The concept of a publishing company has to change, according to Gill Hudson, editor in chief, Reader’s Digest.

Speaking at this morning’s MediaTel Group Future of Consumer Magazines seminar, Hudson used the struggles of her own publication to point out that magazines need to be focused on monetising the whole brand, rather than just the title.

She talked of the relationships magazines have with their audience, which spans from readers, to website users, to app purchasers, to people who attend related events with their friends and so on.

Hudson praised ITV’s shift to become a multi-platform player and asked why publishers can’t follow in the same footsteps – after all, they carry similar content and both believe in developing a full consumer experience.

“We’re not just a magazine,” she said, explaining that Reader’s Digest only accounts for 20% of turnover.

Dennis is one company that is forward-looking, calling itself a ‘multi-platform content provider’ – “putting the brand at the heart of everything it does”. Hudson supports this contemporary approach, adding that “just being a publisher isn’t a good long-term strategy”.

Meanwhile, Peter Phippen, deputy chairman at the Immediate Media Company (ex BBC Magazines), said magazines have an opportunity to “do what they always did but much better now” – explaining that digital enables publishers to create a much better all-round user experience.

He said the focus needs to remain on readers – what their interests and passions are – in order to build long-lasting relationships, which ultimately lead to brand loyalty and growth.