Magazines seem to be the new Zagu these days. You know how with Filipinos, there’s always an trend when it comes to everything. There’s a food trend (Zagu and all the pearl shake clones), sport trend (Badminton, no offense, but it’s true). There's a gadget trend (my iPod this, my iPod that). And to my topic of discussion, even business trend, like the way Zagu brought people clamoring for a franchise.
These days, new magazines are popping up all over the place. Go to your nearest stand and you’ll find at least five gay titles, 50+ lifestyle magazines, and a handful that cater to a specific market. They’ve all taken advantage of the fact that tariffs for foreign magazines have made them too costly to be purchased, which therefore opens the door to local entrepreneurs.
Magazines, however, local or foreign, rely on two things: advertising and circulation. To get good circulation, you have to have large capital to pay for the printing. To have lots of advertisers (where the capital comes from), you’ll need high circulation to convince them of your validity.
In this month alone, I’ve already met four people who plan to start their own magazine. All of which are the editors-in-chief. None of which have any prior experience to anything remotely resembling a publication. Two of them actually live out the lifestyle on which their chosen publication wishes to inform readers about. The last seems like a sounding board for his own angst. But that’s another story. Three of them seem to think it’s a profitable business.
Not that I’m a pro at this. I’m the last person who’ll ever retire with a decent pension, doing the kind of work I do. I have, however, seen from the inside how magazines struggle for both circulation and advertisers. It’s not a pretty picture. My grandfather told my Dad that of all the businesses you can get into, publishing is the worst. This is from a man who’s been doing it his whole life. TV schedules and sensationalized journalism sell better.
Why then do so many people willingly jump into the fray, hoping a glossy collection of writings and pretty pictures will uplift them from a country drowning in recession, despite the fact that anything remotely requiring reading has failed so miserably in this country? Doesn’t it bother you that the only titles that succeed are franchises from other nations, borrowing on the strengths of foreigners? How many of you have thought about what will happen one year down the road?
2 comments:
Actually magazines are indeed a tough business: aside from the difficult start and overhead expenses, the return of investment usually takes several years rather than just one or two (as most businesses are).
Mr. Sunico even told us in class that the magazine competition is a battle of attrition: you succeed by simply staying there and outlasting your competitors.
I also think it has to do with magazine costs as well, and unfortunately, the only method to lower prices of magazines is to have a high circulation. And depending on your target market, you might be printing more than those who actually purchase them.
Currently, the two best-selling magazine titles are a) sex magazines like FHM, or b) the teen-girl market. I wonder though if in the near future, b) will be replaced by something else.
Unfortunately, people tend to judge the magazine by its circulation. If they don't see it on the stands, it's perceived as weak. Even less care to actually read the article. They judge it by layout and pictures. Depends more heavily on shock value.
But that's the way the business goes.
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