Newsweek Changes its Image, But can it Change the Future of Magazines?

Newsweek is joining a list of other publications that are trying to reinvent themselves as it undergoes a major design and image change that includes a look that is similar to The Economist magazine. Many publications are making similar efforts, whether they will be successful in remaining economically viable is doubtful.

I love print publications. Any time I discuss the subject of the decline of magazines or newspapers, I always feel compelled to throw that in. I'm not exactly sure why I do it. Maybe it is to explain that I don't have an agenda against print publications, but I think it is to point out that I find its demise as sad as anyone else (with the exception of those who make a living from such).

I'm now largely old fashioned, I own a Blackberry, while my most of my friends are "clicking along" with their IPhones and GPhones. Yet my old Blackberry (which I am up grading in a few months) is more than adequate to find all the information I need on what is going on in the news and more opinion columns than I will ever use. Furthermore, the content I find is usually up to the minute. Weekly magazines, like Newsweek, are typically outdated before the ink even dries. I find it very funny that publications like this have a date from a week out on its cover. I know, it isn't saying that it covers what is going to happen (it covers how long it is suppose to be on the stands), but the whole thing seems ridiculous.

The New York Times recently wrote about the changes and noted that "a major change in its identity, with a new design, a much smaller and, it hopes, more affluent readership, and some shifts in content." In my opinion, it will be in this latter area if Newsweek makes a difference.

The Times also reports “There’s a phrase in the culture, ‘we need to take note of,’ ‘we need to weigh in on,’ ” said Newsweek’s editor, Jon Meacham. “That’s going away. If we don’t have something original to say, we won’t. The drill of chasing the week’s news to add a couple of hard-fought new details is not sustainable.”' I like this. because we are so deluged with the exact same headlines and the exact same stories on a daily basis. Something has got to give. "Giving" us a unique perspective, something not being offered by other news publications, would be refreshing. I'm delighted to read about the commitment, but will be more exciting if they can translate that into a reality. Talk is cheap and there is plenty of that online, in print, on TV, etc.

Part of changing its editorial approach should mean a serious look at philosophy. Currently, Newsweek has a reputation of being among the most "radical" among mainstream news publications. Inviting writers from a different perspective certainly couldn't hurt.

It is funny, because as Newsweek visually strives to look like the Economist, it is also trying to be more like it in content. The Economist has long been one of the most current, creative, and serious contributors to original content. I actually think that, in spite of the fact it has struggled like other magazines, that it will remain relevant. I am not so confident about the future of Newsweek.

Kevin Price is Host of the Price of Business, the longest running show on AM 650 (M-F at 11 am) in Houston, Texas and on AOL Radio. Eric Bolling of Fox News and Fox Business says that Price’s Blog “is very influential and moves the blogosphere.” Steve Moore of the Wall Street Journal calls Price the “best business talk show host in the country.” Find out why and visit his blog at www.BizPlusBlog.com and his show site at www.PriceofBusiness.com. You can also find Price on Strategy Room at FoxNews.com.

Apple Faces a Very Small Business Problem

When a business owner gets ready to sell, one of the very first questions a business broker or marketing consultant will ask is "does the business have an image outside of the business owner?" So many businesses completely link themselves to the owner that, if the owner died or was forced to quit, the business would be seen as being in serious trouble.

This is a problem that is typically associated with small to medium business. It is the mattress store that is known by its energetic owner that will "save you money," or the carpet guy who is convinced that his company is the only one that really knows its trade. Big companies tend to have enough products, services, and prestige to stand on their own.

There have been big companies that have lived a little dangerously in this regard. Lee Iaccoca "single handily" saved Chrysler and there was huge concern about the company surviving without him. Ever since Orville Rickenbacker passed away there has been a void in the popcorn company. Old commercials of the now dead founder are designed to remind viewers that the company has not wandered far from its roots. The death of Wendy's founder, Dave Thomas has created a similar void for which the company has yet to recover. The company continues to appear to be interested in being bought by another country. But the situation with Steve Jobs of Apple is creating a situation that we simply have not seen before.

The Seattle Times reports that "for months, Apple's shares have gyrated on rumors and bogus reports that Steve Jobs was in ill health. Recently, Apple said Jobs suffered from a treatable hormone imbalance. But optimism didn't last. Jobs began a leave of absence Wednesday saying his health issues were 'more complex' than thought. Shares opened sharply lower Thursday, and closed down 2.3 percent. On Friday, the stock declined 1.3 percent, finishing the week at $82.33."

Steve Jobs is a cultural and business icon of amazing proportions. We have seen very few like him before and I doubt we will see very more after. This leader has taken many products from idea to best seller and he has had his finger prints on those products. His linkage to the company is so profound that his ill health, could lead to a serious sickness for his company.

The challange for Apple is to determine a way to transfer some of the founder's prestige to the company itself and that seems to be no small challenge.

Kevin Price is a syndicated columnist whose articles frequently appear at ChicagoSunTimes.com, Reuters.com, USAToday.com, and other national media. Kevin Price is Host of the Price of Business (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at PriceofBusiness.com. Visit the archive of past shows here.

The Screen People Will Watch in the Future is in Your Pocket

The "first screen" we have known and loved for decades has been the television. In recent years our passions have turned to our laptop and PC screen, but the screen of the future is going to have us squinting. At least those my age.

At a recent convention in San Francisco reported in CNET, Marketers discussed the various vehicles they are using to reach today's teens. The overwhelming vehicle choice is the mobile device. What does the future hold for mobile communications? "Mobile phones in the United States will surpass the popularity of desktops for teens. Only an estimated 20 percent of teens currently own a smartphone such as the iPhone, but mobile phone and content companies are counting on the idea that smartphone adoption will spread fast among teens in middle America and other areas."

In the future, there will be more and more ads being sent to mobile devices. This is because they can target the audicence better by interest, age, gender, and geography. Furthermore, text ads get noticed in a way web ads and (in particular) email spam never enjoys.

One definite piece of good news for fans of traditional media is that these devices will actually bolster the health of television, not undermine it. Devices will be able to use more video (20 percent of all young people already have smart telephones such as the iPhone, as stated above) and ads that would normally be on TV will also show up on the small screen.

The future of media looks very interesting and very small.

According to recent surveys on marketing, most advertising attracts sellers (others who want you to buy more ads) and not buyers. Do you want to know why? Email info@HoustonBusinessShow.com and put "marketing audio" in the subject line and we will get it to you.

Kevin Price is Host of the Houston Business Show (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at HoustonBusinessShow.com. Visit the archive of past shows here.

Richard Sonnier Predicts Demise of Text Messaging

On today's Houston Business Show (Monday at 1 PM on CNN 650 or 24/7, archived at HoustonBusinessReview.com) I interviewed Business Show Advisor Richard Sonnier of Nimble Services, who did an update on some of the latest changes in technology. I love this kind of programming because it helps me understand what are real changes and not mere fads, what I need to implement immediately or can wait until later, and what are the best approaches to incorporating technological changes.

On this week's show he discussed the new Apple IPhone which is expected to change the way individuals communicate with others and the way phones such as this is profoundly impacting text messaging (SMS). Text messaging was a hot form of communication just a couple of years ago and now, according to Sonnier, it is facing serious decline. Why? Because as people move to pda equipment they will increasingly use email, which doesn't cost anything extra since they likely already will have the web on their devices. Furthermore they can check out that information on their computers as well as their phones. When you can have major forms of communication be dismissed in months, the world of business is a really scary place. Companies must be holding on for dear life as they try to keep up the demands of an ever changing population.

Richard Sonnier has been an Advisor to the Houston Business Show for three years and his information has made a difference in the way many in our audience and I conduct business.