This summer, Folio: surveyed more than 100 magazine executives to get their opinion on revenue outlooks for 2019. The results have been released, and most publishers agree that revenue will go up for them in 2019.
“One might expect recent layoffs, consolidations, frequency reductions, and closures in magazine media would have the industry feeling gloomy about its future, but a new survey of Folio: readers show the opposite,” reads The Folio: report summary.
“Nearly seven in 10 Folio: readers surveyed in the Folio: 2018 Magazine Media Investment and Operations Survey said that they expected revenue to go up next year, with 22 percent saying that they anticipated seeing double-digit increases,” the report continues. “Just five percent of those surveyed thought revenue would decline next year.”
Source: Folio: 2018 Magazine Investments and Operations Survey
Print revenue is still the largest source of income for many of the respondents, and it’s being used to drive growth in other areas including events, digital advertising and marketing services. Even in light of the Facebook/Google duopoly, 55% of the publishers surveyed expected to see increased revenue from digital ad sales on their platform. This supports findings that consumers place their trust in magazine media brands, making this kind of direct ad revenue possible.
Source: Folio: 2018 Magazine Investments and Operations Survey
Clearly, the publishers who are expecting revenue to go up – and especially the 21% who are expecting double digital growth in 2019 – have keyed into new ways to make money in magazine media now. This includes jumping on board the peace train when it comes to print vs. digital. Indeed, they do work together and have been for years.
The real difference – I still believe – between publishers who are expecting growth and those who aren’t is faithful, unwavering attention to what their audience needs.