Hi Peter,
I think the observations you make a very valid and likely explain much of the current situation with magazines. However, just to pick up on a few points:
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Most of those on here seem to have run their own businesses so it should make sense that even if you start with the best intentions and a good business model, as soon as you become successful the whispering parasites start on you and tell you that by making a few changes you can double turnover, triple profits and all that crap. Suddenly, as the founder you find you are "retiring" and that the baby you watched grow is turning into a monster.
This is very true, but I guess it depends how focussed you are on retaining control of your baby and the values you believe in. I run my own business, so can relate to what you mention, but some things in life are far more important than 'the bottom line', or selling 'one's soul to the devil', as it were.
In the past I've often thought of expanding my business to increase profit, become more well-known or whatever, but doing so would have meant that I wouldn't have been able to offer my customers the attention to detail or personal touch I do now, and so the niche aspect of the products and services I offer would have been diluted.
This is precisely what's happened with some magazines by 'selling out' to commercialism and losing focus on the very goals that they set out to achieve at their inception. Or perhaps through just running out of ideas?
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Most, if not all, publications start as someones good idea but then over time are taken over by one or other of the large publishers and that's it.
Indeed, and Hi-Fi+ are a valid case in point. I remember how much of a breath of fresh air the first few editions were; in fact they even included restaurant reviews! They were also chock-full of genuinely useful and insightful articles. Now they are but a pale imitation of their former selves...
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It's not the magazines advertising themselves, like you suggest above. It's selling space on your restaurant menus and wall for adverts. People might still come eat the food, but passing trade (ala McDonalds) is more likely than regular diners.
I agree, but not if you do it right and build up an excellent reputation for first-class food and service, where people will travel for miles to frequent your establishment. This is precisely what I would strive for if I opened a restaurant; indeed my wife and I have thought about doing exactly that when we retire.
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And that's the point I think. Once the circulation is up, and hence the brand name of your mag is well known then new readers will just buy a copy when they want to buy hifi and so the ads are as important as the editorial. There are now so many consumers that this single purchase model work on an ongoing basis. No loyalty, no subscriptions.
Yep, that's what happens when you (perhaps unintentionally or indirectly) abandon the intended target customer as a result of losing focus on your goals and 'going for gold', and end up in return catering for a much less discerning audience! ;)
It goes back to what's considered as most important - absolute profitability (the 'bottom line') or a genuine, extremely focussed, desire to produce a product (magazine) long-term that's different and of value to a dedicated audience. My view is that the latter, done well, could be both profitable and also of great value to the hard-core enthusiasts populating this and many other specialist audio forums.
Marco.
