Time Inc more than many of its counterparts is throwing any and everything against the proverbial wall to see what sticks. This approach is an attempt by the iconic magazine publisher to save itself from the ever descending print related revenue. Time Inc is now in talks with digital media companies about partnering up to produce new print magazines around the content of those companies. Sound familiar? Well of course it does. Hearst Magazines pioneered this strategy and other companies like Meredith and Conde Nast have all jumped on it with some success. Hearst has paved the way by launching successful magazines around popular personalities and brands. Now Time Inc is looking to get in on the fun, albeit late by buddying up with digital media companies to bring the content of those companies to print. Though this follows the Hearst blue print of launching new print products around personalities and brands, Time Inc is hoping to convince pure play digital companies to launch print editions.
Sure there are digital media companies out there that launched print editions based on their content but not many. Time inc will need to do some serious convincing to get these companies to see the value in launching a print product as it is trying to stop the bleeding caused by print for its own business. According to CEO Rich Battista, Time inc is engaged in conversations with several pure play digital companies and exploring creating print magazines for their brands. Of course this news of Time Inc seeking to launch new print products comes after the company announced that it was cutting back on the number of issues produced for some of its own print magazines like Fortune, Entertainment Weekly its flagship Time magazine and others. Confused? Well don’t be because even though print and circulation related revenue continues to decline at the company, it still accounts for 70% of its total revenue which means whether or not Time Inc likes it or not, they are a print media company. There is no information on which pure play digital media companies Time Inc is talking to, but we can’t wait to see what comes of this effort, if anything at all.
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