For all chapters • Major technological innovations and their significance. How does innovation alter the industries and society? • Relationship between the industry and the government. What specific actions does the government take to help and/or regulate the industry? • Relationship between the industry, its messages and products, and social values. What are some of the ethical concerns? • Relationship between the industry and the audience. How does the industry react to audience concerns? How does the audience react to media? • How does the business environment influence the industry. • Use industry-specific terminology.
Main questions - magazines • How does the evolution of magazines exemplify the changing conception of the audience? • How does the evolution of magazines reflect changing technologies, and changing governmental priorities? • What are the main concerns that people have about magazines and their content?
Magazines and audiences • The audience: • Originally, group of people who receive(d) mass media messages (undifferentiated). • Mass media audiences only possible after technology creates means to mass disseminate content. • Mass media audience(s) are dispersed.
Criticisms • Is everyone part of the audience? • Is the audience homogeneous? • Audience, or audience(s) • Does the audience change over time?
Audience segmentation • When mass audiences are divided into smaller segments. • Consequence of competition. • Highly competitive markets = more segmentation.
Criteria for segmentation • Media use (television, radio, magazine) • Social characteristics • Age, gender, ethnicity, occupation, income, place of residence. • Needs • Information, entertainment, general interest, hobbies, etc.
Magazine industries today • Consumer, trade and public relations magazines dominate. • Issues: • Integrating digital technology • Images, distortion of reality. • Hyper-commercialism. • Environmental concerns (AdAge, 10/14/2008)
Top Magazines by gross revenue, 2007 Source: AdAge
Top Magazines by gross ad revenue, 2007 Source: AdAge
Top Magazines by Ad Pages Source: AdAge
Technology • Revenues from digital/internet/wireless are increasing. • Median revenue share (2007) = 9.75% • MRS (2006) = 5% • Digital gains make up for print losses. • New strategies: • Expansion of reader-generated content (Business@work; Your Old House)