Over the last week, I’ve talked to four business-to-business media executives, including two CEOs. I asked each of them the same question, “How easy or difficult would it be to add $1 million in revenue to a magazine brand over a year’s time?” Almost as if rehearsed, they all said the same thing: “Like pulling teeth…”
Driving revenues (beyond low single-digit percentages) is extremely difficult for publishers in today’s environment. Marketers continue to spend more and more time, resources, and budgets on their own content efforts. This is becoming crystal clear to publishers. Even with eMedia growing substantially, it’s challenging for media companies to add large chunks of revenue through eMedia products and services alone.
I believe publishers have accepted custom media, custom publishing, content marketing (whatever term you like) as one of the best, if not the best way, to grow revenues over the next three to five years. Successful ones will get on board…before it’s too late.