Backlight at the end of the tunnel
Two things happened to me today that made me think about how times are changing.
Early this morning I bumped into my friend, Anders, who had just flown into London from New York. He's spent his professional life ricocheting across the globe taking photographs that fill the pages of the world's great magazines. Magazines have been good to him. They've cemented his reputation and helped establish him as a leading light in the world of advertising. In recent years when we've met, although his career continues to flourish, he's been pessimistic about the future of his profession; speaking of declining budgets and wondering what will be left for him as the internet continues to wreak havoc on the print world. He's Scandinavian, which may go some way in explaining the Bergman-esque bleakness, but undeniably Anders also has a point.
This morning, however, despite a sleepless transatlantic night, his mood was different. He'd spent the flight with his new iPad. He enthused about how the device makes magazines seem fresh and exciting again. He loves the tactile quality of ‘flicking’ through pages, the light-box brightness that makes photographs look vibrant and colour-packed. Display advertising works in a way it hasn’t yet on websites. And the App Store makes payment a snap. Suddenly he can see a future that’s digital and teeming with possibility.
Later on, I popped into WH Smith to buy two bottles of water and a packet of crisps. When I went to pay, the cashier suggested I take advantage of a special promotion and also pick up a copy of the Daily Telegraph. She told me the water would actually be cheaper if I took the paper. This wasn't simply a free copy but a newspaper with negative value. I've published newsstand titles myself, so I can understand sampling exercises and the need to bolster circulation. But what sort of damage does it do to a brand to apportion it with a negative value?
Ipads and other gadgets in the future may offer opportunities for traditional media to find new revenues but that will take time, and the road will be uncertain. In the meantime companies that have spent decades, if not centuries, establishing their value and reputation must be careful not to throw them away in desperation.
I binned the unread Telegraph in the flashy new recycling pods in the office. I'm looking forward to getting home tonight to download the magazines that Anders recommended.
