By Linda Ruth
This week’s Publishing Pandemic Roundtable, a weekly group of BoSacks, Joe Berger, Gemma Peckham, Samir Husni, Sherin Pierce, and me, welcomed Tom Keeler. and Andie Behling of Morgan Murphy Media.
Morgan Murphy, headquartered in Madison, WI, operates TV and radio stations, a print magazine, websites, apps, and a digital marketing agency across its seven locations.
What effect has Covid-19 had on your companies?
Tom: Prior to the pandemic, while TV was still our most substantial source of revenue, our print property, Madison Magazine, was growing. In fact we had such a successful first quarter profit that was more than we’ve profited on an annual basis for years. Then Covid-19 hit, and everything changed.
What accounted for the success of your first quarter?
Tom: Part of it has to do with the consolidation of our sales efforts. Each sales person represents all our properties to a given account. They sell TV, radio, print, digital. And we cross-promote all properties across platforms, so you’ll see our events mentioned in the magazine, hear about our upcoming issues on TV, and so on.
Some companies treat their separate business entities as competitive entrepreneurial companies. IDG is an example.
Tom: Early on, as we acquired companies, we acted more like individual competitive units. Now we collaborate across platforms, with an approach that we’re all part of the same family of companies, and we find that approach works well for us.
Getting back to Covid-19, how have you responded to the enforced changed?
Andie: The team had to be nimble and committed. They had to move fast. We created all new content for upcoming issues of Madison Magazine—no easy matter in a business that works 4 months out. For example, our Road Trip Issue’s content had to be completely changed. One of the new features was Tune In to Take Out.
We updated our subscription messaging: Stay Connected. We encouraged our audience to stay connected to the community, through us, despite being socially distanced. We only have two weeks of data so far, but it’s looking like a successful initiative.
BoSacks: Sounds like you’ve built a strong foundation with the multiple platforms, and you are rolling with it.
Tom: That’s right. We’re continuing to broaden our revenue streams. Digital remnant exchange, for example, has become a good source of revenue for us.
What changes are you implementing that you see continuing after the crisis?
Andie: We’re moving most of our work to digital. As a result, we’re cutting down paper use and moving toward zero waste. This is how innovation happens: You’re forced to do something, and create a new system, a better system. We’re not going to go back to the way we used to do things, we’re working digitally due to the times and it’s working.
BoSacks: Covid has placed us in a time machine; it’s accelerated everything. If you were failing, the failure is accelerated. If you were robust before Covid, you are finding new ways of moving into the future.
Andie: When a competitor went down due to the crisis, we said: Let’s open up our pages to anything they want to publish. They submitted a feature about a local needle exchange program; Madison worked with them to get it seen and read—it was a six-page spread in our June issue, crediting Isthmus.
Joe: That’s a good model for city and regional publications to follow. As retailers consolidate, with small local chains getting absorbed into larger national ones, we need to present as a city and regional community to retailers. We need to use our combined retail power, which is considerable, to place city and regionals at front end market by market across the country. People might no longer want celebrity weeklies, but they want magazines about their community. This is worth bringing up with CRMA.