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A re-emergence of print?


by Desi Tzoneva on 21 September 2009

2009 has been a turbulent year in economic terms. The global financial crisis stunted the growth of numerous businesses worldwide; unemployment levels soared globally; and many businesses let go of their search for profit and adopted the approach of simply trying to break even.

Although there has been much talk about ‘green shoots’ in the economy; the period from around October 2008 until now has been extremely difficult. What has come to our attention is that despite the difficult financial climate, the print industry in South Africa is seeing some interesting trends. Although ABC circulation figures indicate that circulation numbers are declining for print, and in some cases declining quite drastically, on average, two new print publications have been launched per month since the beginning of this year. This trend appears to defy the general economic cycle where predictions have expected to see a shift from print to online media. This hasn’t yet happened in South Africa.

We investigated possible reasons why magazines have continued to bring out new titles during the tough economic times. Our research reveals a number of tentative findings which include the following:

Firstly, the research indicates that it is vital to know your audience – in terms of being able to offer them the human voice and human ear. Fergus Sampson, who helped build the Daily Sun, a local newspaper that reaches nearly a sixth of the country’s population, says that a focus on core audience will always unlock a positive response to a publication in its readers.

Second, research from the UK indicates that overall magazine circulation in the UK increased by just over 3% this year. 2009 has been called the ‘Year of the Niche’, with hobby titles doing exceptionally well. In addition, ultra-niche or community publications have the ability to tap into a broader global trend that is: “seeing people retreat into their communities and homes, surrounding themselves with people with the same values and interests,” also known as ‘ultra-cocooning’.

Thirdly, it’s been said that some print publications are doing well due to the ‘lipstick effect’. This effect describes phenomena during difficult economic times where consumers choose to spend smaller amounts on luxury items, in order to spend less but still have that item – “it’s a luxury, but it’s affordable.” Magazines are sometimes referred to as luxury items, and people will continue seeking their small indulgences through purchasing their favourite publications. Media Bistro reports that luxury magazines have been thus far immune to the recession.

Another commentator has indicated that magazines give people something to do in a recession. For instance, they can provide tips and information about the credit crunch. In an article offering top tips on how to salvage your business during the times of a recession, an author indicated that one of the fundamentals is to focus on necessity-based products or services. If financial information in a magazine is a necessity, it will be consumed.

Fourth, titles that are seeing a decline in circulation are said to be those that target younger groups, who have less disposable income and are more likely to be affected by job cuts.

The last trend indicates that each traditional media venture has a tone which appeals to a demographic, and that sense of stability is comforting to readers.

We’re interested in finding out what you think of our findings, and if you would like to add any of your own. Please include your comments to this blog to keep the discussion alive!




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