Why Digital Editions?

Replies to This Discussion

Permalink Reply by OlegR on September 10, 2008 at 9:35pm

Fred, no comment. right on. this is what we've have been crying out to the publishing world for years now...

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Permalink Reply by Marcus on September 11, 2008 at 3:16pm

Hi Fred,

Good question... As a vendor in the space, I'm admittedly biased. However, here's what we've seen:

1) Readers react with a digital magazine different than they behave on a website. They have much higher engagement times and click-through at a much higher rate. These readers aren't seeking bits and bytes of information, but are seeking a brand experience with your publication. This is how a digital magazine is different from a website.

2) As printing costs go upward and publishers seek to break into new markets, digital magazines offer them a method to do this at a much lower cost.

3) Many publishers lack the resources to have a fully featured robust website. A proper digital edition gives them all of the features without the time and dollar commitment.

4) The medium's been proven for many publishers and they have strong readership. Readership leads to additional revenue for about 34% of our customers at this point.

5) Your point about mobile is quite timely, because you're right: more people want content in that format - and in many other formats. But we're entering an era where a digital publisher can take your PDF and republish it in any format you want: html, digital magazine, RSS feed or mobile. As a publisher you could do this yourself - or you could partner with a digital magazine that will do it for you, using the same PDF you send to your printer. It's just a matter of where you wish to dedicate your time and resources.

Hope this helps - most of what I've just written is summarized from publisher-lead webinars which can be found on our website.

Best,
Marcus

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Permalink Reply by Marcus on September 18, 2008 at 9:55am

Greyson-

Just to clarify - when I say "resources," I'm referring mainly to manpower, and when I say "many publishers," I'm referring to the smaller niche publishers (of which there are thousands).

My opinion is that in a perfect world, every publisher (and 99% of all businesses) would have a great website. But in a perfect world, I'd also eat all of the chocolate I want and not gain an ounce. :)

I've come to learn that digital editions and websites solve different problems in a different way and smart publishers use both for that very reason. In a pinch, a digital magazine can replace web content (sacrificing obvious qualities) just as a website can replace a digital edition (ditto).

M

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Permalink Reply by Ian Hunter on September 18, 2008 at 8:11pm

Hi Greyson

Have been following this discussion with some interest, could turn out to be one of the longer ones held within this group.
Always find it worthwhile checking member’s page before making any comments.
Noticed that a few of your company’s clients use digital editions within their websites, I assume they consulted you as to the value of having their publications available in digital format and that primarily you recognise them as a useful supplement.
Much of your first paragraph refers to; revenue streams, business model and concrete strategies, this does not exist for the vast majority of Newspaper and Magazine publishers at present, falling ad spend, falling circulation, rising overheads, there is no business model. It has taking a while, but the reality is that the publishing sector is now just beginning to recognise that some radical changes will have to be made just to survive
Digital publishing will be at the forefront of this necessary change, done properly digital publishing can and will offer not only a satisfactory web experience for their readers but also offer advertisers opportunities, unavailable not just to traditional publishing but opportunity's that outperform current web site advertising techniques and concepts.

Digital publishing is still in its early stages of development, what you are seeing and what is on offer at present, is a long way from what is about to come.

Companies have been investing in their websites for years now with absolutely no idea if they will make money from them; so it is good to know that there are website vendors in existence that can now not only guarantee a significant revenue stream from a website but also that it can be paid for in full before being launched.

Ian
Just Fly Fishing

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Permalink Reply by OlegR on September 19, 2008 at 9:34am

Unfortunately not every online-technology vendor can guarantee revenue streams. If they did they would be offering money-back guarantees.

But you are absolutely right - we are going to see totally different web in the next 3-4 years where context, not design or look or feel will play major role.

Digital editions cannot provide context. They are all about nostalgic look and feel.

Yes they are extremely easy to deploy and yes - they do resemble magazines. But limited functionality is contrary to the web's endless possibilities.

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Permalink Reply by Ian Hunter on September 18, 2008 at 8:25pm

Hi Marcus

Putting up a good defence here.

Hate to put a spanner in the works, but can you go into more detail as to what NXT consider to be a Proper Digital Edition

Maybe send me a link to an example.

Ian

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Permalink Reply by Marcus on September 18, 2008 at 10:48pm

Ian-

I think a "Proper Digital Edition" depends a lot on the goals of the publisher.

We produce Interference Technology for ITEM Publications. Their goal is to make money with their digital edition and they make a few hundred thousand dollars a year according to the FOLIO webinar on digital magazines (and their entire revenue is only a few million a year.).

CADALYST has a lot of international readers and have converted 35% of total readership to digital, so they've hit their goal. Those readers like the digital magazine because they get it much sooner and more reliably than they get print.

Reed wanted to do a new product launch, but knew to do so in print could be costly. Instead, they launched a cool digital-only magazine called Housing Giants. Some tasteful flash and the fonts are optimized for screen reading, but it enabled them to achieve their goal of launching for less and satisfying readers.

Hearst, meanwhile, created a very cool custom publication for a single sponsor who wanted to do something "different." You can see it at ProjectAnalog.com. The advertiser loves the metrics, which show readers staying inside the book for a long time.

We've done many books that look super cool and many books that aren't optimized but are used by publishers because they fulfill a goal they have.

More and more, the technology is becoming only one piece of the puzzle. Helping a publisher crystallize their goals and seeing if the digital edition can help achieve them is really what a "Proper Digital Edition" is about.

M

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Permalink Reply by Ian Hunter on September 19, 2008 at 3:58pm

Greyson, tell Marcus, I am out of here for now.
The world may be getting smaller but the time difference has not changed.

Ian

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Permalink Reply by Marcus on September 19, 2008 at 6:32pm

Greyson-

VERY cool, and I think ITEM is a prime example of a smart company that comes up with a strategy that works for their readers and their advertisers and then stays committed to it. It makes a HUGE difference.

M

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Permalink Reply by Ian Hunter on September 21, 2008 at 7:30pm

Hi Marcus

Thanks for the reply.
That is what concerns me, just what are the goals of the majority of existing publishers that have began using Digital Vendors to replicate their publications online.

Had a bit of trouble viewing a couple of your samples Marcus, so went to the Nxtstand to find a few that best helps our case within this discussion.

The following are pretty good, but there is plenty room for improvement.

Physicians Travel and Meeting Guide
Project Lighting
Trump Rewards Catalogue
Morgan Kauffman Catalogue (viewed as single page)

Yes your right, the technology is only one piece of the jigsaw and always improving, but I am not sure if the vendors are doing enough to ‘help publishers’ make best use of their technology in creating a Proper Digital Edition.

The publishers that will and are bringing momentum to this cause are those that are publishing purely for digital. Wouldn’t you agree?

Ian

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Permalink Reply by Les Csonge on September 12, 2008 at 5:03am

Hi Fred (all)

I see the answer much simpler -

Because they (the Publishers) MAKE MONEY from them and companies SAVE MONEY
by using them as an alternative to the Print - simple as that.

Our company (vendor) contiinue to see month on month year on year growth -

If they (Digital Editions) did not "work" - this would not be happening ;-)

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Permalink Reply by John Matyskiel on September 17, 2008 at 3:29pm

See the responses below. Lots of benefits for publishers. Not so much for readers.

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