Magazine publishers have spent years and invested millions, in promoting their brands and building up a loyal network of subscribers. Now, thanks to them, magazines have become an essential part of our lifestyle. From fashion tips and fitness techniques to agony aunts and exciting recipes, we live and breathe what we read, both online and offline.
Hearst Corporation is well aware of this. Following the successful launch of Cosmopolitan FASHION, Hearst have launched Cosmopolitans’s #FashFest, the ultimate consumer fashion experience, which puts the consumer firmly in the front row. As well as boosting their brand, there is definitely an obvious kick-back for their readers. Shelly Vella, Fashion & Style Director, Cosmopolitan said, “This is the perfect way for them [readers] to shop the season, stay on top of key trends and learn how to wear them in their own way. #FashFest is going to deliver something truly different to young women in the UK and will be as unique, and as accessible, as only Cosmopolitan knows how.”
So, what else is next for magazine publishers?
Marketing an app doesn’t require the same skills set as distributing magazines and securing print subscriptions. For this reason, many publishers were sceptical about digital publishing at first, but we now see most of the top magazine brands in the app stores. There are numerous success stories, and simultaneously a number of struggles. As a result, looking into new revenue streams has become a compulsory step for many, and a way to boost profits in uncertain times.
Hearst has also recently launched CosmoBody, its first premium subscription video on-demand service, which fits into their all-new digital products and video channels. Neeraj Khemlani, head of Hearst Digital Studios and co-president of Hearst Entertainment & Syndication, “It’s our first channel and we look forward to developing more brands-both inside Hearst and with outside partners-into new over-the-top video networks that can be accessed by subscribers on any platform or device, at any time, anywhere in the world.”
Another publisher growing their global offering is Conde Nast, who have just implemented a bespoke multi-media publishing service – offering hand-finished books, glossy magazines and digital projects created privately for the international client by the publishers of Vogue, Vanity Fair and Condé Nast Traveller. “Condé Nast is synonymous with engaging, visually arresting and innovative content. Our tailored high-end publishing service will cater for those with an enviable lifestyle who wish to own a ravishing publication or production, which will speak volumes about their lives. Condé Nast Portrait will attract those looking to make a significant investment in a unique personal creation,” commented Natalia Kuznetsova-Rice, Director of Condé Nast Portrait.
The future is indeed uncertain. Significant technological changes can be released overnight. This gives consumers so many options that often they don’t know what they want until they see it, and even then it’s somewhat unpredictable what will take off, and indeed how long a craze will last. Magazine publishers need to get smarter, be more entrepreneurial and think outside the box. And they are. Calculated risks can deliver great rewards and there’s only more innovation to follow.