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Publishing market plunges?

I recently read this article (here) on how Time Inc. is laying off staff as they also struggle with the effects of the recession. The editor/blogger at APE is to my honest opinion right on the dot with his 5 easy steps to make the transition from traditional print media to the new media. According to Ad Age Digital, top tier magazines that find a way to survive will walk away with the huge returns once the recession ends and they’re also confident that advertisers that are leaving now will never come back again.

You should actually read APE’s complete article and form your own opinion on his 5 easy steps to make the transition to the new media economy.

Basically it comes down to:

  • invest in online new media and make mistakes, but learn during the process;
  • fire your old staff who’s not into change and put the young guns in charge;
  • add staff and spend 1/2 day on traditional print & 1/2 day on new media;
  • invest in contributors to build up loyalty;
  • invest in photography as it is the key.

Of course that last part is like music to the ears of any (editorial) photographer, but only a few will be lucky enough to find themselves in such a situation when still in recession times. 

Or do we all need to start co-investing in publications? Lowering our fees while keeping the quality of our work increasing?
Why? Why not?!

I leave that question to answer yourself.

The funny thing is, even publications as Playboy weren’t able to flee from the recession as also their profits taking a plunge (here). Even worse, Playboy is eliminating 80 positions and closing all of the company’s DVD business. (here)

After Web 2.0 and Photography 2.0, I think the time has come for Publishing 2.0. I’m keen on getting the first people to send me their thoughts on this.

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Mike Van Cleven

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