We’ve moved from “print is dead” to “print is in an inexorable decline.” And now it’s time to put that fallacy to bed as well.
According to Tony Silber writing in Folio, a new survey shows magazine brands are bullish on growth for the coming year. In fact, Silber writes, print remains central to their growth and revenue strategies for 2018.
“Asked whether they anticipate their revenue will grow next year, and if so, by how much, nearly 40 percent of respondents said yes, they do, and by double digits,” Silber notes. “Another 30 percent said they expect to grow in the single digits.”
That’s seven out of 10 publishers saying they’ll grow this year, in spite of the turmoil and disruption as they grapple with a more digitally-attuned audience.
“You can spin this remarkable finding in a number of ways, but the upshot is that respondents in this particular survey expect to see growth,” Silber continues. “The survey was conducted in August and September, with respondents covering a wide range of media sectors, including B2B, association, and mass and niche consumer.”
Where is this growth expected to come from? Events and advertising, for the most part (yes, including print advertising, which almost half expect to see rise):
As Silber points out, the survey results were from a largely print-centric audience; they self-reported that print accounts for almost half (nearly 50%) of their total revenue. Digital sat at 20%, events at 15% and marketing at 12%. Print remains the driver behind most of these brands, and even as digital and events are expected to grow, they are by no means expected to eclipse print’s importance.
Print remains the driver behind most of these brands, and even as digital and events are expected to grow, they are by no means expected to eclipse print’s importance.
This bodes well for the industry. From where I sit, it means that magazine publishers are truly aware of consumer preference for print, and continue to look to that as a mainstay of their (growing) businesses. In fact, 15% are planning to launch spin-off print brands as part of their strategic investments:
For publishers, print remains a solid base from which to grow. And 2018 is going to be a good year to be in print.