Will Social Media Save Print Media?

Posted by Sheila Shayon on May 13, 2010 12:25 PM

With all the hand-wringing over the fate of magazine brands, Facebook wants to help magazines survive -- and its users stay more informed.

Starting in August, Facebook will promote magazine brands' content and subscriptions through its news feed thanks to a landmark partnership with mega-magazine publisher Time Inc. that aims to reach new readers through social media networks – in this case, Facebook “friends.”

Facebook users can share magazine links with their friends, and those links provide an option to subscribe, all while staying within the social network.

The idea, suggested by the Magazine Publishers of America, is something of a no-brainer as Facebook claims over 450 million users.

With one million new users signing up daily, the potential for subscription sales and to boost magazines' brand recognition is substantial.

The business model is also noteworthy. Time Inc.’s Synapse is handling the magazine subscription piece for Facebookers, while Alvenda is enabling the e-commerce transactions for Time Inc. and Facebook.

Facebook won't take a cut of revenues, passing them back to Synapse, Alvenda and the magazine publishers. Their in-kind revenue is laying claim to one more sea change as the lead brand in the tsunami of digital media meets the social networking consumer – at POS.

Alix Hart, Syapse's VP of marketing, commented in an Ad Age article, "Consumers don't want to leave where they are on the web, wherever they are. Facebook is a place where we think that over the coming year there are going to be more and more opportunities to present magazine offers in a really relevant way to consumers, as they're starting to share magazine content in a much deeper way than ever before."

Selling print subscriptions online is not new. Last year, Time Inc., News Corp., Conde Nast, Hearst and Meredith created a digital storefront to sell subscriptions and custom editions for e-readers and computers.

Can social media save print media? Let us know what you think by posting a comment.

More about: Social Media, Facebook, Time Inc., Magazine Publishers of America

Ralph Leon says:

I don't think social media can save print, but maybe prolong its life. The thing is with inventions like the tablet pc's print is going to slowly evolve into a more digitally interactive medium. Print's battle is just like snail mail versus email. Both are going to lose in the long run unfortunately.

May 13, 2010 06:47 PM #

Handoko Said says:

i think print (paper-based) media model will definitely become obsolete in the near future.

as soon as digital interactive media matures (like Ralph mentioned in the earlier post), it will change how people would want to get their news dosage and print (paper-based) media will no longer have its place.
and i don't see how social media can save print media from this.

the thing is probably instead of writing off print media, probably the very definition of print media will be change with the introduction of this technology.

which is why most print media companies should move toward subscription business, a business model that will be much more viable in the future, especially if it really does offer interactive information.

so social media will not save print media, timely response to embrace that print media (paper-based) will be obsolete and prepare a new business model before it is, will.

May 14, 2010 06:04 AM #

Ishan Ghosh says:

Social Media is only providing a distribution channel. Print has to reinvent itself to survive. Video didn't kill the Radio star. The radio star, reinvented, itself into talk stars rather than music stars - so leveraging the strength of the medium. Similarly today, the YouTubes and MySpaces are launching new stars like Justin Beiber and Lily Allen.
In Canada, a case study example of a brand that reinvented itself to survive the 'e-onslaught' was Canada Post. Today, Canada Post does not deliver mail, they are a marketing channel.
Print needs to do that by finding a niche that leverages the strength and uniqueness of the medium to survive.
As far as Social media providing a crutch? Hardly, this is just another ploy in its bag of tricks to try another app.

May 14, 2010 10:24 AM #

Christian says:

Save? Maybe. Help, yes.

I do think this social media relationship should give a boost to subscriptions. IF publications can win at convincing readers its worth paying money to "join the club". Magazines and newspapers need to step away from "news" since it is available faster and free-er online. If publications can start to be a "club" worth the "cover charge" then maybe there will be a long-term life for print.

May 14, 2010 10:30 AM #