FIPP 09: Conde Nast International chairman dismisses print 'naysayers'

Print magazines will withstand the economic downturn and the rise of online publishing, Conde Nast International's CEO has said.

While the idea of a magazine brand will become more important than the paper it is printed on, the future of print editions is golden, Jonathan Newhouse told delegates at the FIPP World Magazine Congress.

"To those who believe that paper and print will disappear, I've only one word to pronounce - nonsense," said Newhouse.

"Which is not to say that magazines will always sell in the same quantity or that the number of magazine brands will never change. Surely some of the reader attention that now goes to magazines will go to other entertainment venues."

[Full audio of Jonathan Newhouse's speech at this link]

New media does play an important part in magazines' future and a title without a website will be 'marginalised', he said.

According to Newhouse, users will turn to a magazine brand rather than a standalone website, because of the authority and relationship that brand has built.

Any international magazine that fails to develop a mobile offering is 'taking a risk,' he added.

Lightweight, electronic reading devices will also play an important part in the industry's future alongside hard copies, particularly as the cost of the technology drops, said Newhouse.

New technology and the internet will not only expand the reach of magazines, but also promise new revenue opportunities, he said.

"Advertising rates on the web, which is dominated by giant search engines tend to have lower cost per thousand (CPM) than magazine advertising (...) To some extent it is a buyer's market, not a seller's market today," said Newhouse.

"But as everyone knows, the one constant is change itself. The web will make money, lots of money, for magazine brands to come."

Publishers should also look to use their brand to generate new revenues from merchandising, events, or even restaurants - as CN's GQ and Vogue have done.

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