Top 4 Takeaways from the AMMC 2018
At the 2018 American Magazine Media Conference, industry leaders highlighted the ongoing growth of print media with over 700 new magazines launched in 2017, emphasized the critical role of magazines in truth-seeking and fact-checking as stressed by Ronan Farrow, and shared strategies for legacy brands to thrive by being empathetic, staying true to their brand promises, and celebrating their core audiences.
MediaRadar attended the 2018 American Magazine Media Conference (AMMC) on February 6th, 2018, in downtown Manhattan. The event brought together magazine media and business professionals to discuss the state of the industry, featuring speakers from Meredith Corp., Amazon Fashion, GTB, The Association of Magazine Media, Hearst Magazines, Essence, Active Interest Media, Allure, New York Magazine, ESPN Magazine, FOX Networks Group, WPP, and notable individuals like Gayle King and Ronan Farrow.
State of the Industry
Despite some lingering concerns in the industry, the event's atmosphere was hopeful and optimistic. Even with new advertising mediums emerging frequently, print publishers still have opportunities to lead and innovate. The event highlighted several positive takeaways.
The Industry is Still Growing
Steve Lacy, Chairman at Meredith, shared that over 700 new magazines were launched in 2017. Additionally, total magazine audiences increased every month in 2017 compared to the previous year. These statistics indicate ongoing growth in print and continued value in the medium.
Ronan’s Review
Ronan Farrow, contributor to The New Yorker, emphasized that “Magazines are not dead,” a sentiment echoed throughout the event. In a discussion with Gayle King about “How magazine media fights for the truth,” Farrow highlighted the importance of print in seeking truth in media. He advised media companies: “Don’t skimp on fact-checking, and don’t skimp on the legal review.” The event underscored the role of magazine media professionals in leading the charge for truth.
“Cracking the Code”
Kim Brink of GTB discussed what enables legacy brands to endure, attributing it to understanding their brand promises. Brink outlined three ways for legacy brands to “crack the code”:
- 1.Be empathetic to the customer
- 2.Stay true to your brand promise
- 3.Celebrate your base
These actions help print media companies build lasting relationships with readers and advertisers, allowing legacy brands to remain strong in a changing media landscape. Acting more human toward customers and business partners is key for print publishers to stay relevant.
The Future of Magazine Media
The overall outlook for magazine media is one of excitement. Eli Lippman, Director of Audience Development at American Media, Inc., advocated for comprehensive measurement: “Measure everything. Which headlines work best. Which covers and celebrities sell the most.” Data-driven improvement is essential, and print content can be analyzed for effectiveness just like digital content.
Pam Wasserstein, CEO of New York Media, encouraged publishers to leverage data to communicate with advertisers and audiences. Building trust with advertisers and readers was another strong theme. Julie Alvin, Senior Digital Director at Meredith, noted, “You can sell trust and brand affinity with print. Print ads have more impact than digital ads. About 30% of readers purchase a product after seeing an ad in an issue.”
Overall, there is excitement about magazine media’s opportunity to lead on the issues of truth and trust.
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