In 2008, the Rocky Mountain News, a Denver fixture for 150 years shut down. Up until then, the Rocky Mountain News was the largest newspaper to fail in the industry’s decline. For newspapers to survive in the modern world they will need to get creative. The print industry however, lives on through magazines, and books. Even though you can now get E-books online most people still prefer printed books. Also, people aren’t giving up on magazines because they say magazines have survived crises in the past.
The magazine industry was in decline before the 1950’s when television network’s offered advertisers larger audiences at less cost. The idea that fueled this transition was called CPM. This acronym stands for cost per thousand (with the roman numeral M meaning thousand). In 1970 a full-page advertisement in Life magazine cost $65,000, which translated to a $7.75 CPM. The television networks’ CPM was $3.60 so it’s not hard to see why advertisers switched. Furthermore, magazine companies focused on titles aimed at narrow audience segments that advertisers with products aimed at specific demographics needed to reach. Fragmenting the audience in this way is a process called demassification, which was soon adopted by the radio industry as well.
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