You are currently browsing the tag archive for the ‘Advertising’ tag.
It’s a media company, not new TV show
I was at class by 9:30 today, without coffee since my little pot decided to be on the fritz, so it was a huge tease when Seth Familian came on screen, with his video projected straight from San Fransisco with a clear image of his steaming mug.
Familian is listed in our program as “CEO, 8020 Publishing”, but apparently as of very recently (last night, perhps?) he resigned from the position due to different thoughts on the business. So that made me realize a) I can’t believe he is out of bed at all and not ridiculously hung-over after quitting and b) 9:30 NYC time is 6:30am SF time, so Seth, I applaud you.
I also applaud the new revenue models Familian was generous enough to share with us this morning. With experience at Zinio (another company I admire) and an MBA from Berkeley, he’s definitely an authority on media.
JPG Magazine, “Your World in Pictures,” is the title for which Familian was responsible. Living in both the digital and print realms, JPG is submitted hi-res pictures from a global community. jpgmag.com boasts more than 200,000 active members, with 20-25 page views/returning users while the magazine has more than 35,000 submissions/issue.
Quick look at the concept: Photographers submit hi-res pictures falling within certain categories, which are then voted on by the other members on jpgmag.com, with the winning images appearing in the print magazine.
Where does the name “8020” come from? That’s the split in content: 80% of work done by users, with only 20% being editorial contributions.
The 8020 concept is new by itself, but combined with the 3 Key Strategy Mechanisms Familian presented, it’s ingenious:
- Theme-Based Content
- Community Driven Curation
- Diversified Monetization
1. Theme-based content may be the cornerstone to success. It gives users the parameters for what to submit, so compares like things to one another.
2. Community Driven Curation gives power to the users and drives growth. This involves social layers on top of content interactions – not only can users vote on their favorite image, but can contact each other and see what others have “favorited”, establishing common ground. Also compliments and constructive criticism are exchanged, resulting in what Familian says is an extremely friendly space.
3. Diversified Monetization is the ah-ah moment; the light bulb in the head. Obviously, we all know content is not free. But, in this case, with UGC it mostly is. Not only that, but Familian found ways to stabilize the cash flow using on-demand options and price differentiation.
While print on demand still isn’t as cheap as the mass print runs, it is risk neutral. So instead of just offering digital “issues” of the prints that didn’t make it into the print magazine, Familian has worked with POD agencies to offer it in book form. By selling the book it generates profit, and the users/photographers featured end up being JPG’s marketing agent by WOM saying that their image can be found, published.
Whatever venture Seth Familian finds himself in next I have no doubt it will be a success. He seems to be the rare person with a firm grasp on media’s potential as well as the business and finance facets of a company.
I am so far from a photographer with hi-res images, though I plan on joining the jpgmag.com community just to interact with other talented people and communicate in the universal language of pictures! I encourage you all to try it.
So I used to have quite the girl crush on Chelsea Handler (hilarious, clever and oh-so inappropriate), but now my tastes have matured and moved to these two emulating-worthy women: MaryAnn Bekkedahl, EVP/Group Publisher, Rodale and Jill Seelig, VP/Publisher, O, The Oprah Magazine.
Coming from a background in the creative/content-generating side of advertising, I admit to having had a somewhat snooty view on advertising sales. After listening to these two women present, my views may have shifted to more of a “wow, I would love to be her in 10-15 years”.
MaryAnn Bekkedahl first got my attention when discussing the seven “media franchises” she’s in charge of, aka magazines (Men’s Health, Women’s Health, Prevention…). But, in this age, they are much more than just magazines and have evolved into brand empires. I have understanding and respect for brands more so than sales (sales people always have an agenda), but seeing how they’re so intricately connected had me at the edge of my seat.
“The Role of the Publisher” as Bekkedahl depicted really has control and responsibility for the brand/magazine. The Publishing team is composed of the Publisher, with the Research, Marketing, Sales, Business Management/Production and PR teams reporting up. I could do that- I want to do that; be the business side of publishing.
In fact, the Sales force is what really appealed to me among those divisions. Dad always told me I should be in sales since I can convince people to buy things (he’s the perfect example, you should have seen my white convertible!), but I held such a negative stereotype I couldn’t move past. Bekkedahl shot that stereotype out of the water as I found myself drawn to her earnestness and humor, thinking maybe I could do advertising sales after all…
Jill Seelig was the last speaker at the end of yet another long digital day, and I was seeing all sorts of pleasant images in my head instead of the screen (manicure, massage, wine… you get the picture). She really got my attention (and adoration) by opening up her “Multi-platform Marketing to the Advertiser- the 360 Strategy” with the line:
Print is not dead; it is here to stay.
Seelig went on to support this statement with stats stating that magazines are the #1 medium of engagement, and there is an interdependency between print and digital. Magazines contribute to the effectiveness of advertising when added to the media mix; and she should know, since she launched “O” as part of the Oprah Winfrey media empire.
Moving up through the ranks of ad sales in Self and Vanity Fair, Seelig helped instigate “O”‘s immediate success in 2000. She presented a case study of Intel’s partnership with “O” and showed the magazine’s ability to make a (boring) technical brand be more human and emotional to her female readers. She seems to be living the “O” tagline: “Live Your Best Life.”
Also, as a side-note, all the high profile people we’ve heard from have been very attractive and in good shape – is the magazine industry shallow; do they not have time to eat, hence the toned-ness; or do these people just happen to age well?! None look old enough to hold their titles and have the experience they share!