A few years ago, when print publications began their struggle maintaining and growing their subscriber base, their media company would simple shutter them in order to stop the financial bleed. However, with the evolution of the digital platform, from online content to video to apps, publishers are finding new ways to keep their magazines alive today by re-structuring and re-focusing how their content is distributed.
Martha Stewart Living Omnimedia recently announced that it is doing such a restructure of its portfolio. While MSLO plans to let go of one of its media properties, Whole Living, it has created a strategic plan that will be implemented in 2013 to deliver its various lifestyle content across digital, mobile and video platforms while streamlining their approach to broadcast and print distribution. There is no longer the uncertainty of whether or not people are consuming online branded content and MSLO’s restructure will aid the network in assimilating to the progression of these platforms.
Some of the reorganization includes:
- Ending Everyday Food’s run as a stand-alone publication. However, it will be included in Martha Stewart Living as a supplement 5 times per year. Additionally, Everyday Food will continue to live online with branded content and a daily video newsletter, “Everyday Food with Sarah Carey,” via their You Tube channel.
- A partnership with The AOL On Network, as well as Hulu to deliver their video content.
- Selling Whole Living or merging its content into Martha Stewart Living.
- Partnering with FremantleMedia to create and distribute multi-platform digital video content.
- Aggregating content and expanding their reach with exceptional lifestyle bloggers across different niches through their “Martha’s Circle” network.
- Launching “Martha Stewart’s Cooking School” on PBS.
- Launching a made-for-the-web video series.
- Establishing an iPad storefront to sell Martha Stewart Living products.
The restructuring is forecasted to save up to $35M in expenses for MSLO if all actions prove effective. If successful, we’re confident we’ll see more of this from other print publications in 2013.