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Sign of the times?

August 21, 2008

I read many blogs about the Real Estate Industry every day to stay on top on market conditions, trends & technology.

Today’s Inman News Post struck a different note with me perhaps it was one of those ahhhaahhh moments.

Home magazine shuts down

Parent company cites difficult economic environment

“Home magazine, which shares an owner with other magazine brands such as Elle, Car and Driver, Road and Track and Woman’s Day, will cease publication after its October issue.

Jack Kliger, president and CEO for the magazine’s parent company, Hachette Filipacchi Media U.S. (HFM U.S.), reported that the “current economic environment is difficult, and the mid-market home sector has been particularly hard hit. When the middle market recovers, we will consider future publication of HOME” as a single-subject guidebook available at newsstands. …” read full article here

A Wall Street Journal article titled Home Magazine a Victim of Housing Woes was cited. It states “that Home suffered a 47 percent decline in ad pages during the second quarter, according to the Publishers Information Bureau.”

Yesterday at lunch with a newspaper reporter friend we discussed (along with solving all the worlds problems) the recent rapid decline in the number of Real Estate display ads in the local papers. (NO! I do not think all the REALTORS in the area just woke up & discovered print media does not work!) We talked about the effect it is having on being able to staff papers with enough reporters to cover the local issues. We discussed publishers slow response to the Internet as a serious news outlet. We even discussed the demise of print newspapers.

My friend, Ted Mackel from Simi Valley, CA and I chatted about this issue on Twitter

aka RealtorTed

A few of Ted’s observations:
In general I think print media is going to be under pressure to survive, to many other options for people to spend their time.

SHIFT HAPPENS!

So why is today’s Inman News post one of those moments?

It caused me to seriously consider – could the current real estate market downturn hasten the change from print media to Internet? Then beyond that is the Internet really ready for that shift, are we ready for that shift?

Please join in the conversation – what do you think?

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2 Comments leave one →
  1. August 22, 2008 1:23 am

    “…could the current real estate market downturn hasten the change from print media to Internet? Then beyond that is the Internet really ready for that shift, are we ready for that shift?…”

    A magazine that happens to cater to a niche that suffers losses is not always a reflection of the times, Poor management , Poor performance in revenue management and not be on the cutting edge are all factors.
    I has been years since I was active in the Real estate Marketing Arena, but I have stayed in close touch with local markets.

    Those Realtors who USE all the Tools available and listen to Sage Advice about the Principles of Marketing and are willing to VEST in their Businesses, have not “experienced” major revenue Drops.

    The Internet is just a bridge of communication, another method to Brand yourself as an expert. Learning to USE the system combined with your already Massive Off-line programs will always “carry one over the Hump’.

    Since the late 60’s I have seen few dips, but smart clients weathered the storm

  2. candylynn permalink*
    September 1, 2008 3:20 pm

    I just came across another newspaper having to reduce print edition and increase their use of the internet due to reduced print advertisement – The News & Record.

    “Effective Monday, the News & Record’s opinion pages will change to fit the new realities of the newspaper business….This was not an easy call, but a necessary one in a more and more challenging economic climate for newspapers and for the companies we depend on for advertising revenue. Less advertising means less space for printed content….”

    “We won’t even attempt to pretend that these changes will give you a bigger, better opinion section. They won’t. And you know that.

    But they will maintain many of the features you’ve come to depend on and to look forward to over the years.

    One consolation to the space squeeze on the printed page is the endless space the Internet provides.

    So, we’ll redouble our efforts to expand the content we offer online, from our blogs to the video interviews we’re conducting with candidates in the races for governor and U.S. Senate.

    We will debut a new editorial podcast in September.

    We will continue our video interview series, “Newsmaker.”

    for full article: http://www.news-record.com/content/2008/08/29/article/johnson_starting_sept_1_news_record_opinion_sections_will_see_significant

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