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Forbes and Burda have found their ways to survive as media

07 March 2014 / 19:03:57  GRReporter
3311 reads

Anastasia Balezdrova

In today's world the need for more and varied information is continuously growing. Although they are still holding the lead, traditional media are no longer able to meet the requirements of those who want to have the latest information, 24 hours a day, presented by all the means of new technologies. The media Publishing Conference 2014, which was organized by Boussias Communications in Athens, discussed the ways in which online media could increase their audience and revenue.

An example of a medium that has been able to create such content and to increase the number of its readers and advertisers is the prestigious Forbes magazine. Its online edition employs 1,300 people who work on 8,000 publications per month and 100,000 per year. They have a particular incentive to do their job the best possible, namely the fact that the pay they receive depends on the number of readings of their articles. "The higher the number of users who like their posts, the greater the amount of their monthly payment," states managing director of the magazine, Charles Yardley.

Forbes secures revenue from advertisements in a very original way as well. A few months ago, it introduced an innovative online platform, BrandVoice, which allows advertisers to publish their texts using the same tools to access the media contents as those used by the journalists. Thus, they have a direct contact with readers.

"All our articles are connected with social media. Readers may explore the profile of each of the authors and be aware of the number of readings of each article. In Forbes we fully support the principle of "transparency everywhere," Yardley added.

Burda is one of the oldest and most popular fashion magazines. "Even in the years after World War II women were buying it because, despite the poverty, they wanted to dress beautifully," said young Business Development Manager of the magazine Olaf Holzhäuser.

A few years ago, however, the need to update the content of the magazine and create its online version became apparent due to the declining sales. "We decided to add to the content a variety of new categories in which people are interested today, including trips, pets, gardening, cooking and more. It is the users who define how to develop the content and use technologies," he said.

Despite the new topics, Burda nevertheless remains a fashion magazine with typical patterns of fashionable women's clothing, which readers still seek today. The magazine has been able to update its printed version and to transfer its content online. This allows its readers to subscribe to the updates of the website, watch videos, order tailoring materials, obtain information on different fabrics and on how to work with them, and to download or order books with patterns.

At the same time, Burda organizes events and trips, such as last year's 7-day sewing vacation in France, which was sold out in just one day. They are part of the new sources of funding introduced after 2010, which bring better results each year.

The conference also discussed various ways in which publishers could reach their target audience.

Tags: MediaOnline mediaFundingAdvertisersNew technologies
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