A recent article in New York takes an in-depth look at Time Inc.’s response to the changing landscape of magazine publishing, along with a healthy dose of the classic drama that seems to grace the halls of any industry giant’s executive floor. Whether you find insight into the drama helpful or merely compelling, the story also offers a look at how the nation’s biggest magazine publisher is coping with the inevitable changes to the industry and what strategies they are pursuing to maintain leadership. With nearly 90 titles in their quiver—that include Time, Sports Illustrated, Fortune, InStyle and Real Simple—Time Inc. is worth watching, because how they weather the transformation from print to digital provides us with acute, timely insight to what publishers should or should not do to stay on top.
None of Time Inc.’s publications are currently losing money, but the company’s revenues have fallen by nearly 65%, since 2006. Needless to say, lay-offs and leadership changes clearly reflect this decline, but the current CEO Joe Ripp, and his chosen Chief Content Officer, Norman Pearlstine, are making haste to turn it around. Their first step is the first tactic to watch.
It’s likely that you are already pursuing some, if not all, of these tactics. But, it’s comforting to know that you are on the same page with legendary media companies and that you can look to them to inform how you might make your next move—because their moves tend to play out a bit faster and more publicly.
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