On Friday, Magazine Publishers of America announced that it is changing its name to MPA. The new tagline for the body is The Association of Magazine Media. The change reflects a shift of focus by the organisation away from print.
This is relevant to Australian newsagents as it is further evidence of a shift in focus by magazine publishers, albeit in the US this time, from print to other distribution channels.
Newsagents are lagging behind their suppliers in investing in new revenue streams. While some are innovating, the channel is not. Leadership is lacking on considering the future.
Mark the idea
of “new revenue streams” is a good one. However in the last 20 years phone recharge is the only major “new revenue stream” I can think of.Do you honestly believe some magic product or service will materialise for newsagents to dominate.
Peter, comparing the newsagency revenue mix of some stores today with those I have from five years ago, new revenue streams are: calendars (50+% margin), gifts (50% margin), ink (32+% margin) and some smaller categories.
The only way newsagents will find new products is if we work on this.