Those who read the first quarter 2010 newsagency sales benchmark numbers I published here last month would not be surprised by the audit figures released for newspapers and magazines for the for the same period. The audit numbers confirm the accuracy of the benchmark data for magazines. The newspaper numbers in the audit are worse than I saw in the benchmark study. This could reflect greater volatility in channels outside newsagencies. It could also reflect the need for a bigger sample for newspaper sales analysis.
While the numbers are poor for magazines, declines in sales for most, the sales decline for Take 5 and That’s Life are particularly concerning since they underpin traffic on a Wednesday. I am pleased to see that Pacific Magazines is launching a revamped That’s Life next week. Both titles need innovation to drive sales. Given the sales of UK magazines in this space I see potential for new titles too.
The newspaper audit numbers are dreadful with only small upside for The Mercury, The Sunday Tasmanian and The Sunday Age. My personal view is that news is what sells newspapers. Too many newspapers have strayed from news.
Reasons for the decline aside, the newspaper numbers serve as an important reminder to newsagents that we need to evolve our model to rely less on newspaper traffic. It is vitally important that we build new traffic generators. It’s up to us, not suppliers, to build our relevance.
didn’t thats life only get revamped a few weeks ago ?
I am still a “virgin” to the industry (I am in the process of acquiring a newsagency) but Mark’s comment on to be less reliant on newspaper traffic also hold true for other product lines. I have two friends who always put extra emphasis on high lottery sales despite others have higher sales in other areas. However, I believe like any other investments, yes promote your products as hard as you can but don’t rely on one or two single stream of income. Always create opportunities to drive in traffic and drive in sales.
Robert, balance will be key to our success. Sadly, some suppliers to newsagents do not understand the importance of us balancing our businesses.