I argued at the time
that the downturn looked very much like previous cycles and that there
was no reason to believe that this time was any different. As the
economy improved, the magazine business would too. (It did). So I’m
certainly more optimistic about magazines than most.
However, both circulations and ad revenues are falling again
and this time it is indeed different. The decline is has nothing to do
with cycles and everything to do with tablets, which are becoming
central to the new media value chain. Although the challenges are not insurmountable, every publisher must adapt to survive. Here’s what’s important.
1. Forget about Apps, Focus on HTML 5