Business magazines makeover

Business magazines are losing their hold in the competitive publishing sector. Currently, there are over ten English business magazines, publishing weekly and fortnightly magazines- and that’s a lot in today’s virtual world.

On one hand, the increasing costs caused Businessworld, the only weekly Business magazine in India, to becoming a fortnightly. On the other hand, three new magazines have been launched in the past five years; Outlook Business, Forbes India and Fortune India. From the readership point of view, business magazines hold a steady one percent share since the past five years. But this, compared to the TRP’s gained by business channels in TV and hits received by business magazines and websites online are nothing.

In the new age, the only way to survive is to digitize. After all, as per the News Media 2012, USA’s top magazine The Atlantic’s digital revenue exceeds its earnings from print. Long form content, magazines and newspapers are read more online, through devices and apps. This should be the future of business magazines, a cost effective solution for an industry struggling with increasing costs.