Mark Glaser of PBS's MediaShift offers real insight on the recent demise of Time Warner's magazine, Business 2.0, which in 2001 was expected to combine print profits with online mojo. Now, Time Warner has pulled the plug. The magazine's editor calls the problem a lack of advertisers, rather than a loss of readers. If he had to do it again, Josh Quittner, says:
I would create a social network that was for entrepreneurs, to help them find each other and find talent they need,” he said. “And I would have a staff to write articles that would be given away for free and used to bring people into the social network. Then we could show a degree of engagement that would appeal to advertisers while delivering to users the kind of information they’re begging for. I don’t think online-only is the way to go….We all make these connections to different kinds of media, and we find something that connects with us, we want to hold it, we want to touch it, we want to carry it around like a flag.
In the same piece, Glazer quotes BuzzMachine’s Jeff Jarvis, who amplifies the point:
"Business 2.0 should not have been a product but a community; it could have been the magazine that shows how that’s done. It even had a community on Facebook eager to save it. But, sadly, this magazine was made by a 1.0 company that just didn’t understand how to think like a place instead of a thing.
Here's the thing that grabs me: Newspapers had/have/cover actual communities with engaged, actual readers. Yet too many papers, in a mistaken hunt for younger readers (presumably a more spendy demographic) are ignoring the readers they already have. The assumption is that newspaper readers are old coots stuck on print and that the real advertising money is online with the youngsters.
A glance at any family's den/kitchen tells you, however, that increasingly everyone is online for one reason or another. Many older folks may still prefer to read their news on paper. But they also avidly surf the Web chasing specific interests, whether it's recipes, Civil War memorabilia, or travel info. Research by the Nielsen/Net Ratings firm bears this out: "The number of Internet users who are older than 55 is roughly the same as those who are aged 18 to 34," according to a recent piece in The New York Times.
The coots and the kids are not separate worlds that never cross paths.
(Via
PBS MediaShift)
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