Magazines have to be on the medium where consumers thrive: Peter Kreisky

21 Feb,2013

Peter Kreisky, founder of Kreisky Media was one of the international speakers at the Indian Magazine Congress 2013 who shared his observations on the changing market dynamics surrounding the domain of print.

 

On the sidelines of the event, Kreisky told MxMIndia on how digital would be the way forward for the magazine industry and the importance that a growing market like India holds for the print landscape around the world. Excerpts:

 

As one moves across multiple markets where print plays a dominant role, what is the kind of change you see in the way the business is now run?

Markets across the Europe, Asia, South America etc are in different stages of development, literacy and penetration of print and digital media. One of the things that’s universal across these markets is the advent of very sophisticated mobile screen-based devices. It’s something that the younger generation is relying on almost exclusively for their news, information and entertainment. And if that is where they are then the magazine media has to move there to tap them or else they won’t be able to capture eyeballs or ad dollars.

 

Are magazines taking to the digital medium in a manner befitting the business? What’s the trend being observed there? 

The trend is a universal trend which is far more choices for consumers to spend time on the medium and more choices for advertisers to spend their money around. This is a trend that’s ongoing in most markets but the impact is far more dramatic in the mature markets than the developing markets because the investments in developed markets are less and you have less to lose.

 

With pricing and infrastructural bottlenecks, do you think the jump by magazine players in India on to the digital medium is still in a nascent phase?

Every country is at a different stage where pricing of their digital product is concerned. One of the things we saw in India is that in the telecom industry the number of subscribers has leapfrogged by a huge number. Most people did not have landlines until recently but they have bypassed that need and now have mobiles in their possession. Also, in the area of education there is quite some effort being made in making the syllabus available online for illiterate children in remote and rural areas in countries like Ethiopia, Somalia etc. That again is something that’s leapfrogging a generation where they are resorting to using the tablets and not a PC.

 

How are advertisers reacting to the shift from traditional to digital medium where magazines are concerned?

The advertisers were very reluctant initially to advertise on the web but now they are aware of the scale and proof that consumers are actually looking at their ads and acting on them – facilitated by Google, Yahoo etc. Even ads on mobile has picked up in a big way in markets like the US, Europe etc. This is seeing a drastic change as advertisers have started seeing worth in the digital offering as well. It is also the task of ad agencies to create work that is appreciated and works effectively for the brands as well.

 

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