Now that you’re weighing careers in the media industry, you should be paying attention to the owners and actors as the digital revolution continues. To put it simply, it’s important to know who owns what — and where media companies are going.
As this piece in AdWeek reports, parent company Time Inc. is leaning toward selling a few well-known magazines as publishers shift their thinking — and investing — toward video production. Why? Well, partly because they expecting to find more growth in digital brands’re realizing that consumers will endure ads on video clips more than they’ll seek out ads on printed pages.
That said, we should note that Time owns a bunch of magazines and isn’t offering to sell some other favorites like People, Sports Illustrated, Fortune and Travel + Leisure.
Time Inc., of course, is always changing to adjust to markets. It acquired both Southern Living and Sunset magazines about a decade ago. Sunset is the West Coast version of this sort of lifestyle mag. Developed by family-run Lane Publishing, it was a must-have on many living-room tables as I was growing up in California. At issue: Will this genre last with its regional travel, food and home how-to-do-it articles?
You can follow industry news by bookmarking and reading sources like Adweek and Advertising Age, which cover media organizations as well as business that advertise with them. And, of course, you can find many more sites.