A few days ago we wrote about Monocle, the ultra-niche magazine that refuses to engage in social media marketing. Today we offer a closer look at the business theory behind the title.
Bloomberg TV recently interviewed Monocle’s editor-in-chief Tyler Brule about the challenge of making print profitable. You can watch the entire interview here, but we’ve pulled out a few key quotes that resonate with us.
On the future of print magazines: “I really can’t see you, on your summer holiday, stretched out on your lounger and trying to get the sunlight angled just right so you can read off your tablet.”
On which channel is most profitable for them between web, print and digital radio: “Month in and month out, where is the profitability for our business? It’s on paper.”
On their ad revenue: “The last few months our ad growth has been about 50% over last quarter of last year. We’re on the path for an extraordinary 2013.”
On engaging with readers who spent a good deal of time online: “I hear them say things like this: I’m in front of a table all day, or I’ve got three trading screens open at work. Come Sunday or Saturday afternoon I don’t want to be on a backlit screen.”
Take a listen. It’s great to hear a magazine owning their niche and understanding how to make a living in print.