Weekly print publication New York magazine leapt into digital early and now it is reaping the rewards – profits and revenue are at their highest levels since 2003 and it’s growing! It’s also a great example of how localised content can be of national and even global interest online, 80% of NYmag.com traffic is not from New York. But then again, who isn’t interested in what’s happening in New York! It might be a touch harder for a city mag from Adelaide to attract that kind of online traction.
Originally posted on paidContent:
New York magazine has always puzzled me. In an era of death spirals for traditional city news magazines, it not only avoided financial ruin but become a top-shelf reporting powerhouse that sometimes rivals the New Yorker. What did it do to flourish while others teetered?
This week, Advertising Age has a good account of how New York became a profitable online success story. The article explains how an early embrace of digital is helping New York outstrip others:
Consumer magazines draw only about five percent to fifteen percent of their ad sales from their digital operations, analysts and insiders say. New York‘s digital properties, by contrast, account for forty percent of the company’s total ad sales.
The publication is pouring these new revenues back into reporting and has created a virtuous cycle in which high-quality journalism attracts high-quality ads. As Ad Age explains, New York’s high profile reporting has…
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