Though many newspaper companies are cutting costs to stay afloat in the economic downturn, they have not yet reinvented their business model to respond to consumers’ increased digital consumption, according to a recent report from PricewaterhouseCoopers (PwC) in cooperation with the World Association of Newspapers (WAN). The report, “Moving into Multiple Business Models: Outlook for Newspaper Publishing in the Digital Age,” finds that, despite the current state of turmoil in the global newspaper business, a future remains for newspapers that can gain access to the capital needed to fund the transition to digital business models.
Magazines are experimenting with digitally interactive ad and editorial pages and finding promising results. Target sold thousands of necklaces through a Woman’s Day editorial that provided readers who photographed the page with a link to a mobile Web page where they could purchase the item. More than 2,300 GQ readers who snapped pictures of a Maserati ad were able to download a ring tone featuring the sound of the car’s engine. “The melding of magazine and mobile will morph,” one magazine marketer said.