Traditional print publishers are having problems, we all know that. Seeing their traditional revenue streams shrink, and not replaced by the digital, has made many disappear or radically reduce their cost bases.
Left - Page from Carine Roitfeld's CRFashionBook by Bruce Weber
The future of publishers, and brands in general, is personality and while publishers have long had columnists and featured writers and contributors, it was all under the umbrella of a trusted masthead.
Hearst recently announced is will host Carine Roitfeld's CRFashionBook.com on its publishing platform, MediaOS, and oversee distribution and digital advertising. Business of Fashion reports that while all editorial content for both print and digital channels will continue to be produced by CR Fashion Book’s own editorial staff under editor-in-chief Roitfeld, Hearst will take on the task of monetising the title's digital and social media content and syndicate it across Hearst Magazines' digital portfolio.
Hearst has a similar agreement with Lenny, the newsletter launched by Lena Dunham and Jenni Konner in 2015: LennyLetter.com is hosted by MediaOS and Hearst has exclusive rights to monetise the content, which is also syndicated across its portfolio of sites.
Even if the content is produced by a team it is under the name of a personality. These personalities wouldn’t work for a traditional publisher or give as much of themselves if they did, so this is a good way for publishers to tap this market.
As a blogger, I could be called biased towards this type of publishing, but it’s the future. Anonymous posts without the confidence and voice of a single individual with experience and knowledge just don’t resonate. People want to know who they are listening to. Opinion formers with an opinion is the future and publishers are finally waking up to it.
To quote the supermarkets, the space race is over. Much like the frenetic expansion we saw in the food sector with supermarkets opening store after store in a saturated market, which didn’t increase sales and just cannibalised those they already had, the same could be said for social media.
We’ve seen a huge appetite for volume since its inception. Followers, subscribers, likes etc., brands and companies have spent lots of time, effort and money on growing their social following to as big as possible and, for many, continues to be the main focus of their attention. This isn’t sustainable.
Twitter has stalled in its growth of users at around the 300 million mark and Instagram, which just passed its 500 million users threshold, will no doubt start to slow or stall. There are only so many people in the world, after all.
This October, Condé Nast International’s chief digital officer, Wolfgang Blau, said, “You can’t win a race for reach,” at the Digiday Publishing Summit in Nice. He said that Vogue does not have to be gigantic to be very influential. For too long, too many were “drunk on reach” and forgot to focus instead on deeply understanding their readers.
This is a change in language and tactic from the one of the world's main digital publishers and a welcome one.
What is an 'acceptable' number of followers? Many people/brands look to others for this competitive and, sometimes not honest, number. It’s never enough.
The new age of social media will be healthy niches influencing people and rippling out into the wider population. Engagement will become key and producing content that is original, clever and contemporary will be the way to stand out. They'll be new ways to monitor engagement which don't require as much effort from the recipient.
What’s that inspirational quote about Jesus only having 12 followers? Okay, one did unfollow him! But, the space race is over and big isn’t always best.
This week's video includes reviews of grooming products with sun protection, dinner with Dominic West, bumping into Carolyn Massey at her new role at Next and the must-have glittery beard.