A lucky alliance between bloggers and a magazine
There is no denying that blogs have increased in popularity in recent years, with some of the most prolific bloggers garnering an audience that many printed magazines can only dream of.
However, while the top blogs can boast readership numbers beyond even the most successful magazines, they don't even come close to the success of magazines in terms of revenue. The September issue of the US edition of Vogue, for example, contained 584 ad pages bringing in $92 million of revenue for that one month alone. Show me a blogger who can make that much from their site in a single month.
It seems exaggerated to speculate that online magazines will lead to the demise of their printed counterparts anytime soon, but the immediacy with which bloggers can release information and new stories, and the relatively low overheads has led many print publishers to seek ways to benefit from the same advantages, while also being able to gain revenue from the large audiences.
One print magazine in particular has shown great initiative when it comes to harnessing the power of the online media space. And instead of taking on the bloggers in a head-to-head battle, US publication Lucky magazine has decided that if you can't beat them, join them!
Part of the Condé Nast publishing empire, Lucky magazine has formed a strategic alliance with 50 top fashion and beauty bloggers to create the Lucky Style Collective, a network of bloggers who will now be contributing to both the printed magazine and the website.
Lucky aims to extend its audience with the collaboration. It is hoped that those who follow the bloggers' sites will also follow them on the Lucky website or by reading the printed magazine.
The bloggers benefit from new advertising opportunites. Marketers are invited to buy ad space on both luckymag.com and the blogs that make up the Lucky Style Collective. The advertising department at Lucky magazine take on the responsibility for selling advertising space on the blogs, meaning that they benefit from all the advertising contacts that the magazine has. The revenue is then being shared 50/50 between the magazine and the bloggers.
The benefits also extend to the advertisers who are able to go to a brand they trust in order to get help to extend their reach into the blogosphere and reach new audiences.
Date Posted: 30 July 2011
Posted By: Stacey Sheppard