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The challenge of a magazine start-up
The magazine start-up business is booming again. After
riding out Internet predictions of its demise, an ad sales recession,
and grim statistics on longevity, entrepreneurs are launching new titles.
Vying for readers’ precious free time and space on crowded display
racks, 440 new magazines were listed by the Magazine Publisher’s
Association for 2003.
Pulitzer Prize-winning journalist Anita Sharpe launched the national magazine
Worthwhile in October 2004. Tagged a career lifestyles magazine,
Worthwhile’s message calls for people to do more than just
earn a paycheck. “Since your career consumes half your life, it should
be fulfilling with passion and purpose,” says Sharpe. She recently
told an audience of Goizueta students and others at a Net Impact gathering
at the school that starting a magazine is like having a baby, “there’s
never a good time to do it.”
Her rundown on daunting tasks includes: be willing to look foolish, love
the process or don’t do it, be honest about finances, and keep the
faith.
Bart Stephens ’04MBA, was in
on the 2004 start-up of Cottage Living by Southern Progress (a
division of Time Warner). It is the first new title from the company since
1997. As circulation department marketing manager, he is charged with
selling readers the magazine through newsstands, direct marketing, and
cross promotions. He attributes the uptic in new magazines to the ever-changing
interests of readers. “Weak titles get weeded out as new or underserved
niches are identified and developed,” says Stephens.
It is not enough to have a creative editorial concept, though. According
to Stephens, research, test marketing, and a solid team are essential.
“This is a demanding business that takes specific experience,”
Stephens says. Brett Garfinkel ’94BBA
agrees and has gathered a group of people with deep experience in the
magazine business to help him in the upcoming launch of the men’s
magazine “JAQK.” The upscale magazine is slated to revolve
around risk and reward.
Philanthropist and businessman Michael Morris
’93MBA thought a magazine about travel might be a wonderful
way to help allay the public’s fear of leaving home after the tragedy
of 9/11. Along with a stellar team, he launched travelgirl in June
2003. Of the industry, Morris says, “If anybody thinks that the magazine
industry is dying, I would suggest that nothing will replace a quiet afternoon
in the sun with a cup of coffee in one hand and a magazine in the other.
People get information from the Internet, but people get comfort and enjoyment
from a magazine.”
—Francine Kaplan