Need partner for magazine business

[Risky]

I'm looking to work with someone, prefferably who has knowledge in the magazine business, to this business up. It has no competition but I don't have enough money to continue plus this area is large and complicated so I could do with some help.
PM me if interested

[marcyliu]

what kind of magazine is it? is it subscription? national? i've owned and ran a community newspaper and managed the advertising sales for a regional magazine. unless it's a vertical publication, a printed magazine is probably not the best place to put your resources. print is on the decline and you're gonna have to have something of great value to attract advertising revenue.

[Risky]

Hi marcyliu
I'm glad you replied to my thread. I believe this will be a success as it has hardly any competition. I would eventually like to make it national but start of regionally first. I'm interested as to why you said print is on the decline, is that because it's more popular to do it on the web?

[phanio]

Everything has competition - either direct or indirect. Know that print is dead - thus, your magazine must be online. I worked with a business in the past that did a hybrid print / online news magazine. He might be able to help you out a bit (search for "San Angelo Live"). Then contact Joe Hyde through his site.

[Risky]

Everything has competition - either direct or indirect. Know that print is dead - thus, your magazine must be online. I worked with a business in the past that did a hybrid print / online news magazine. He might be able to help you out a bit (search for "San Angelo Live"). Then contact Joe Hyde through his site.

How do Online magazines generate revenue?

[phanio]

How do Online magazines generate revenue?

The same way you would with a print mag - advertising. Know that subscriptions really don't work - you would never get enough to cover your costs. Online, though you could also sell products (either directly or affiliate). Print mags tend to be stuck with print advertising. But, online revenue generation is really as open as your imagination. If you want, you could try the Wall Street Journal style - where they use a pay wall. Thus, they put a few articles out that are open to all and with the rest - those articles with really beef to them - they put out a free sentence or two as a teaser (and to help with SEO) - but, to read the entire article you have to advance through the pay wall. But, know this: This method rarely works. The WSJ just has really strong content and people are willing to pay - they have sent decades building their base and reputation.
I suggest you find a way to offer you mag free with advertising to build a base of followers (readers) - then attempt other things to generate more revenue. If you find one method that works - stick with it and keep improving. If something does not work - scrap it and try something else.
As stated, before, call Joe Hyde - he has tons of experience and insight into this. I am just a lowly finance guy and magazines are really out of my realm.

[BizGuy]

Risky,

First off, welcome to YoungEntrepreneur!
I have a lot to say when it comes to the printed magazine business (being involved in the industry for over 7 years) as well as the online industry (magazines and internet companies).
There are a lot of magazines today that are thriving and growing in the current economic climate! Most of these magazines have carved out a specific niche and they stick to it. Statistics prove that subscriptions to magazines are growing! The demand for print magazines is still here but you need to 'stand out' from the rest and in my opinion combine your print magazine with an online version as well. The other option is to start with an online version like: Self Made Magazine – Young Entrepreneur – Small Business & Entrepreneur Community and build up your readership and following and wait for them to ask you for a print copy (this is exactly what is happening with Self Made Magazine!).

Here's an eye opening video about Print Magazine Facts:

YouTube - The Twenty Tweetable Truths About Magazines

You'll want to watch this video which tells a very differen't story as to what you are hearing about 'print being dead', in fact its GROWING!
YouTube - "Magazines, The Power of Print"

This is a short video that brings up some very solid points about Print Magazines:

YouTube - The Power of Print

Like with any business venture, you are going to want to do your due diligence and market research very thoroughly!
If you have any specific questions, I'll be happy to assist!

[phanio]

What to read more about the end of print - check out this story from the WSJ: Online Ads Pull Ahead of Newspapers - WSJ.com

Plus, you can use this to see how they use their pay wall.