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The Not-So-Glossy Future of Business Magazines in India, from Print to Digital

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The Not-So-Glossy Future of Business Magazines in India, from Print to Digital

In this modern era, the print magazine is no longer the centre point of the wheel, but it remains a vital point of engagement with audiences and ad vehicles that brings resilient revenue.

For years, print has been considered like, ‘king’. But as technology seeped into every corner of daily routines, readers changed their behaviour when it came to consuming content. Present-day, the internet has become the new distributor for journalism, bravery, commitment, cash and creativity to ride and embrace this new technology, to plug it into the heart of running print brands.

The interest of people in digital magazines has exploded recently. Earlier, digital was seen as a threat but we are not watching that more publishers have realized the opportunities and are now willing to try the digital route to reach the audience on a wider range. When it comes to financial terms, print revenues are declining but, still, print magazines are still extremely popular.

Evolving consumer tastes, fragmented media consumption, and tighter competition for audience time make it tough to keep customers loyal to a title. All because of smart phones and tablets, the reading style of consumers has changed in the last few years.

Today, people just don’t read one title, they read many. Several people snack-read and they dip in and out of different titles. There are a lot of people whose passion is reading and they explore content and title across the platform in pursuit to nurture their reading passion. Raising a number of business magazines and institutional magazines is the perfect example of it.

Digital and print media both are on equal footing and regularly complement each other. Publishers are providing people digital and print bundles; they are striving to give customers the best of both worlds. They are perfect when a person wishes to read the novels piled up on his bedside tables as e-books while away from home. In addition, digital magazines are essential to preserve rare printed materials. Antique, fragile and obscure books can be digitized and shared with readers, without any risk of damaging the precious originals.

Today, the publishing industry is embracing digital advancement and this is great news for readers. Because now publications can be bought and downloaded without any hassle. One side the shift from print into digital magazine has brought revolutionary changes in the character of people. Now people prefer to read the business magazine online and it has become a new orientation for their lifestyle. Here, technology plays an important role to support the publishers in developing their content through data and fascinate readers who want to come back.

But the industry is still learning to understand the modern reader and their reading behaviour. Many publishers are getting it tough to create an effective online presence and attract customers directly. Their website may be overlooked by users who mainly buy business magazines in India from online retail giants. Another major hurdle for the publisher is marketing. The traditional marketing approach is not effective anymore.

One of the vital impacts of modern technologies is that the boundaries in geography and time have disappeared now. The marginal cost of producing an additional unit is zero and the uniqueness of books, magazines, and newspapers has greater importance than before.

A number of publishers are going the same problems- restricted budgets; even the best business magazines in India are going the issue with reduced resources and in the main, sliding sales.  The writing and content part is the same. The difference is the distribution of this content and the way the audience can access it has changed considerably.  In many parts, the publishing industry failed to understand just how important emerging technology and global competition could be to their age-old business model.

In the recent past, technology had brought a dramatic effect in the publishing industry. It is important for several reasons. First of all, digital technology holds no boundaries in geography and time.

As the demand for traditional prints decreased, it resulted in a lower market equilibrium price. Although, a lot of people disagree that e-books or online newspapers can be substitutes for a print business magazines. One the contrary, people who like to read books in their leisure time will not replace the print magazine for an e-magazine. Same concept applies for the online business magazine.

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