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Tuesday, November 17, 2009

Media Week Has Become Media Weak

It wasn't long ago we were mourning the demise of Press Gazette only to see it jolted back to life by Mike Danson. Now Media Week is to close. There will be no saviour. Haymarket has always taken the view that if they can't make a title work then no one can.

Haymarket bought the title some five years ago and has struggled to make sense of it. Having loathed it as a competitor for some years, it never sat warmly alongside Campaign.

Media Week is dead, not because there are no media planners working in ad agencies (its principle audience) but rather because it has failed to find a new revenue model to replace sales job ads and media company flag waving.

Revolution is also closing in all but name, as it becomes an occasional supplement rather than a stand alone title - and Revolution is supposed to be about the sexy bit of media. It only proves that even in relatively good markets, business mags will continue to struggle.

This closure, and that of Contract Journal are just two examples of what will happen to you if you fail to come up with a new business model. Nobody seems to be listening. This blog and others have warned about all this for two or three years - but unless you change fast this is not the end, not even the beginning of the end. It may not even be the end of the beginning.

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