Future’s Digital Profit Nearly Tops Print Decline
It’s coming faster than we expected, that moment where digital magazine sales top those of their print counterpart. Future Publishing showed off their wares this week at PaidContent.org and it’s looking good. “£1.1 ($1.78) million in digital profit, nearly making up for a £1.2 ($1.94) million print decline.” When you think about the fact that tablets are only just beginning to hit the market, the future for Future, and everyone else, looks pretty amazing.
Future Publishing does have a leg-up since their reader base is already tech savvy. They’re the publishers of Mac Life, Xbox Magazine, T3, TechRadar and other music, movie and tech magazines. However, it’s Guitar World’s “Lick of the Day” app that is making a big splash for Future. This is a simple, but useful app that is the perfect add on for the magazine’s print subscribers. By driving them to their smartphones, Future is giving their audience a taste of the digital life and from there it’s an easy hop to the tablet and paying for a digital magazine subscription.
Though moving into the digital world wasn’t cheap, execs at Future believe it was the only choice.
“The U.S. market is changing even more rapidly. This, coupled with a nearly 25% print advertising decline (notwithstanding fewer issues), has accelerated our commitment to transitioning to digital.” Digital is 36 percent of U.S. ad revenue.
Right now, says PaidContent, Future is simply taking their existing magazines and making them available for tablets. Going forward, they’ll be creating magazines strictly for that environment and with that sales are expected to grow. That means more opportunities to advertise your products in an interactive environment that can include video, audio, targeted opportunities and more.
Remember how cool banner ads were when we first saw them? Well, the future of tablet advertising is going to make banner ads look like a guy on the corner with a sandwich board. I’m excited. Aren’t you?