BoSacks Speaks Out: I stumbled upon this article today while rummaging through some older files. On November1, 2010 I penned this for Publishing Executive Magazine.
It is simple but important generic advice for staging a successful career. It seems to me that it holds up pretty well eight years later and is worth re-sending. The more seasoned professional subscribers of this publication will already be practicing these skill-sets. But the readership of this newsletter is broad. Not only do we have most of the senior management in our industry, which means most likely your immediate supervisors are readers too, but also new hires as well.
The most important thing to remember is that knowledge is power and industry knowledge is employment power. If you can speak knowledgeably of the entire media process, you are a more desirable candidate for the job you have or, perhaps even more importantly, the job you want to have. Understanding what the other departments actually do is of vital importance. Inter-departmental communication and knowledge facilitates the teamwork of successful and efficient organizations.
You must network and join professional organizations and, if possible, go to trade shows as if your job depends upon it, because it does. If your company won't pay for it, pay for it yourself. Your current job is only a part of your career.
A good professional group has the collective intelligence of the entire industry. They are a tremendous resource. If you have a question or stumble upon an unfamiliar situation, someone in that group knows the answer. If you ever get that pink slip, they know where the new jobs are. Professional organizations are important on many levels, not the least of which is exposure with your contemporaries and possibly your next great boss.
Essentially, you have either a job or a career. Career people stay employed. You must always be working on your career. Stay alert and continue to educate yourself about our industry and good things will happen, because you will be ready to adapt and react with grace and style.
BoSacks: The Profit Prophet: 7 Tips for Advancing Your Career
AD SMACKDOWN: CATS VS DATA - By Bob Hoffman
There is a trend in the publishing media conferences that has been growing for the past few years, and when I tell you what it is, you'll say, of course.
It's a conversation I've seen growing around the world in publishing conferences. I've heard it in Berlin at The Digital Innovator's Summit and at MagNet: Canada's Magazine Conference. I've heard it in London and Oxford, Mississippi. It was repeated in NYC at the AMMC-MPA annual event and now playing out at MPA-IMAG last Wednesday and Thursday in Boston, Massachusetts. I'll eventually tell you what this "new" revelation is, but not just yet. I want to build up to the simple epiphany.
It is usually reasonable to start at the beginning when explaining damn near anything. So, I figure I'll start with Linda Thomas Brooks, President and CEO of the MPA who opened the IMAG event. Since her arrival at the MPA, I have seen an era of advanced messaging for the magazine industry. Today was yet another step in the right direction and I suppose a tangent to the campaign: Magazine Media. Better. Believe it.
Linda's presentation at IMAG was titled Credibility By The Numbers. It was an insightful look at the making of a magazine and the carefully researched and rendered articles within.
Linda shared data on several articles from several magazines. I'll just tell you about the article that ran in Parent's Magazine called "I think there's something wrong with my child". It took two years of research with 7 moms, 1 fact checker, 2 photo editors, 1 photographer, 1 production Manager, 8 print editors, 4 digital editors, 2 copy editors, 4 psychiatrists/psychologists, and 2 lawyers. You get the point.
Magazines have credibility with the public partly due to the amount of time, research, personnel, money and energy invested in them to make them credible. No, not all magazines can afford to perform to the level of excellence of Parent's Magazine. But I will submit that most print magazines do try to the best of their ability and monetary war-chest to give their readers words and ideas not only worth reading but also worth trusting. With all the Sturm und Drang of the internet, print has over its 600-year history created longtime trust in our products. Just being in print adds the aforementioned credibility, even to some titles that don't deserve it.
As many surveys tell us, it is true that traditional media is more trusted than online media. But let's be honest the advertising agencies of the world don't seem interested in our credibility and are still deeply attracted to the digital placement of advertising dollars. And that brings me back to the trends I've seen in the publishing media conferences, literally everywhere on the planet. It's as simple as this: "Let's have the readers pay for our content." I told you you'd say "of course."
Yes, that is what we should have been doing all along. Advertising revenue should be the gravy on the meat adding just a little something extra to the dish and not the unreliable and indigestible thing it has become. Everywhere I go the conversation is about two things: giving the readers the information that they want, when they what it and, through various means and programs, having them pay for it.
Again, totally obvious, but to our industry only in hindsight. The industry has now made that turn and is doing exceeding well in many areas. All this was in evidence at IMAG and is being discussed everywhere.
This focus on alternative revenue and the creative ways publishers are achieving it is very uplifting to an industry that was struggling for quite some time.
Sure, we will still get print advertising revenue and lots of it, but it is fast becoming just one of many revenue streams and the not the sole addictive Goliath it once was.
The haptic experience between print and digital is mainly a different feel, a different sensation and, perhaps above all else, a different expectation. Print doesn't offer distractions other than the words and thinking on the page, while the digital experience does.
I could quibble over a long list of essentially minor points in Baird Davis' "Modest Plan", but the fact is the underlying message - something must be done about the newsstand - is undeniable.
Two questions hang over the future:
Can and will publishers make aggressive steps to create a manageable distribution channel? And; If yes to that, can the apparently inexorable decline in sales be halted so that a manageable channel can survive?
As I have said on many occasions, there is little history that indicates publishers are willing to embark on a cooperative effort to revamp the channel, but perhaps staring into the abyss may rattle their long-demonstrated reluctance.
As for sales, magazine retail dollar volume was $5 billion in 2007 and is likely to be little more than $1 billion by the end of 2018. For years, everyone was asked the question, "Where is the bottom?" For years, the response has been, "Who knows?" Which translates as zero, and which leads to the question, "Why would anyone commit to an effort to restructure, if the market will, like the old soldier, just fade away?
Clearly, if publishers are going to recreate the channel, they must also commit to improving the sales environment. It's a two-part project.
I will once again express my skepticism about the likelihood of publishers undertaking the challenge. However, if such an ambitious task were to be initiated, I offer my modest suggestions about what elements it might have to contain.
Baird's suggestion of establishing a newsstand public utility is right on. Players on each side - publishers and wholesalers - would have to put some ego aside, but when the alternative is the abyss, that shouldn't be too difficult. Perhaps publishers, at least some of the largest, might be able to partner in some fashion with the two remaining wholesalers . If such a utility could be established, it might operate on a modification of the a so-called "pay-for-service" model that was part of the industry discussion back ten or fifteen years ago, and it would be available to all publishers willing to pay for the offered services. CLICK HERE FOR THE FULL ARTICLE
The original intent of the recent newsstand articles that John Harrington and I did, at Bosacks' insistent urging, was to inspire a vigorous discussion about the often misunderstood process of selling magazines at retail. In that regard we hit a nerve - the response has been hefty and spirited. Thank you to everyone that joined the discussion.
Now that the discussion has begun in earnest I want to offer some more grist to the dialogue mill. In this note I'll present a rough-hewn plan for protecting the embattled newsstand channel. It combines ideas gained from recent reader feedback with those based on my own experience as a circulator and long time newsstand observer.
Publishers Troubling "Blind Eye" Approach
There have been many attempts at newsstand channel reform and continuous warnings, twice a year from me, of the dangers that lay ahead for the channel. All of this to no avail. The reform efforts never came to fruition and the warnings have fallen on the deaf ears of publishers.
What appears to have happened is publishers adopted a fait accompli attitude toward the newsstand; seemingly content to live with decreasing sales and higher newsstand service costs. This doesn't mean, however, that publishers weren't acutely aware of the adverse economic effects of - declining sales, reduced efficiency, increased processing costs and less service from national distributors and wholesalers. They knew there was a problem, but, as always, they seemed perplexed about what to do.
In retrospect it's become obvious that publishers seriously underestimated the effect of the dynamic changes occurring to the channel infrastructure. In 2009 major wholesaler Anderson News dropped out of the business. In 2014 mega-wholesaler Source Interlink followed suit saying the business wasn't profitable and hadn't been for a long time. These two wholesalers at one time represented nearly 50% of the magazine retail distribution volume. A total meltdown was averted in 2014 when The News Group (TNG), with support from Hudson News*, scooped up the Source Interlink leavings. In doing so they "won" the long brutal wholesaling war of attrition.
*It should be noted that Hudson News remains in the magazine wholesaling business, but in a non-competitive manner with TNG.
The result - TNG emerges at the top of the newsstand wholesaling heap, controlling 75% to 80% of the magazine wholesaling volume. Click here for the complete article
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After Harvard Business Review kicked off 2017 by reducing its print frequency to bimonthly—eliminating 40 percent of the issues offered in a $99 annual subscription—it was a combination of smart positioning, creative new digital benefits, and a heavier investment in the six print issues that remained, which allowed the magazine to end the year with 10-percent more subscribers than it began with....
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What is the BoSacks FREE newsletter all about?
It is purely a very "personal" and slanted collection of news gathered daily over the Internet, which to me seems relevant and useful about the publishing industry. I do this as a labor of love and to keep myself as up to date as is possible with the ever changing and advancing "Information Distribution Industry" formerly known as "Publishing".
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The price for this service is nothing. It is Free. It is just as easy for me to copy three or four of my industry friends as it is to carbon copy the current list of 16,500 publishing professionals.